FAQ's

How do I know if I'm getting a good tenant?

There are vital pieces of information that we gather in order to create a profile of all applicants for your property. Our recommendation to accept an applicant is based on the results from the following data.

·        Credit Check

·        Reference Check

·        Criminal Background Check

·        Employment / Income Verification

·        Rental / Mortgage History

 What happens if the tenant doesn't pay the rent?

We follow a strict procedure which begins by personally contacting the tenant in an effort to resolve the delinquency.  Eviction is always our last line of defense however, if further action is required, we will notify the tenant in writing of the breach of contract and the pending court proceedings. GRM will always advise you as to your options as well as the best course of action to immediately restore a positive cash flow.

Who collects the rent?

GRM collects all rental payments from tenants. Your residual funds are disbursed by the 15th of each month provided we have received payment from the tenant accordingly. You will be provided with a monthly accounting of what amount was collected, what (if any) items were debited and balance.  You will of course have 24/7 online access to view specific reports and accounting history.

What happens to the tenant's security deposit?

It is important to know that the Security Deposit ALWAYS belongs to the tenant until the termination of the lease which includes abandonment or eviction.  We follow the guidelines as set forth by the Landlord Tenant Act with regard to the amount collected, when and how funds are deposited and disbursed.  If you have chosen GRM to oversee management of the property then we will hold the tenant’s security deposit locally in a non-interest bearing bank account.

The Landlord Tenant Act states that the Landlord (either property owner or GRM) is responsible for itemizing all damages, physical and contractual, within 30 days of lease termination.  It is important to know that “normal wear and tear” is NOT considered “damage”.  Many owners choose GRM to manage their property for the sole reason of the responsibilities associated with the security deposit disbursement.

Who pays the recurring monthly bills?

If you desire, and at no extra charge for this service to you, GRM will make any or all recurring payments on your behalf for you such as your HOA fees, lawn maintenance contract, pest control contract, etc. Your account can be set up in whatever fashion best suits your needs. These funds will be paid from collected rents, and the net proceeds will be forwarded.

Am I informed of all repairs you make on my property?

Our standard management agreement includes emergency service consent as well as authorization of non-emergency repairs up to $200. For repairs estimated to exceed this threshold, no work is initiated without your express approval.

How do I know the repair people you hire will do quality work?

With few exceptions, the contractors we use are smaller, family owned firms. We prefer these companies to the larger ones because of their dedication to customer service and attention to detail. In addition, the volume of work we provide them assures us of priority response and very competitive prices.

What happens if there is an emergency?

All tenants go through orientation before they are handed the keys to your home and what to do in emergencies. Tenants are encouraged to take a proactive approach not only to emergencies but to routine maintenance items as well. Tenants are provided instructions how to handle issues in the event there is a problem that can't wait until the next business day.

How often will you inspect my home?

At the beginning of each new tenancy, a property condition report is completed which provides all parties a detailed summary of the condition of your home prior to occupancy. Based on the date the lease commences, we inspect your property twice a year until the lease ends. Either a member of our staff or a trusted vendor will inspect the property to check the status.  We complete a written report of the interior and exterior condition of the home at each 6 month interval and will also visit the property to address any questions the tenants may have about how things work and change filters. Reports are mailed or e-mailed to you as they are completed. 

If you would like to visit your property, please contact GRM.  Just as you have rights with regard to ownership; tenants have rights with regard to privacy.  A member of our staff will be happy to arrange a time for you to visit and accompany you to the home.

I want to sell my property - can you list it for me?

As always, we at GRM encourage you to keep your real estate investments, but in the event you've made the decision to sell, we can help with that as we obviously know the property better than anyone else!