Property Owner FAQ

These are some of the questions commonly asked by rental property owners.

This is a good start, and if you have any additional questions, please contact us.  We are happy to help!

Do I pay anything up front or owe anything for advertising?
No there are no upfront costs. We pay all costs associated with the marketing of your property. It works the same way as listing your home for sale.
How long does it take to fill a property with qualified residents?
Our property management team in Lakewood Ranch is known for providing our owners with quick results and quality tenants. On average it takes from 1 to 30 days for the property to be rented. However, it depends on many factors such as seasonality, proper pricing, condition, and location. When we meet for the initial interview, your Property Manager-Realtor will be able to advise you on how to make your home more appealing to renters.
Do you offer leasing only service?
We have leasing only as well as full management services. For leasing only service we will advertise your property, facilitate showings, screen prospective residents, create and send the lease to be signed by the relative parties, collect a deposit and relative rental funds from the approved resident.  Once all the formalities are completed, we will make the proper introductions of parties for your management. If you decide you no longer want to manage the rental property, we will happily provide this necessary service.
Who holds the resident’s security deposit?
All deposits are held in our escrow account as required by law. We prepare a detailed statement for the residents upon move out and account for all/any charges.
What happens if my resident doesn’t pay rent?
Residents have a 3-day grace period to pay the rent. If rent is not paid by the 4th of each month, we initiate a call and a 3-day late fee notice. Late fees are passed onto the property owner.

 

When will I be paid?
Accounting days for owner draws-(payment to owners) are the first business day after the 5th and 20th of each month.
Do I get monthly accounting?
Yes, we have user-friendly owner portals and also send out monthly and yearly statements.
How will you advertise my Property?
Most renters look for housing online. We have a very strong online presence: our customized website, Zillow, Trulia and many others. We also receive inquiries and referrals from realtors seeking rental properties for their clients.
Is there a long-term contract?
Initial 1 year property management agreements are drafted for signature, however we believe that if a property management relationship is not working out, there’s no reason to stay in it. If either party of the property management agreement would like to end the partnership, the property management agreement can terminate any time with a 30-day written notice, for any reason.
What are the penalties to terminate the contract?
A nominal fee is assessed if there has been no income from the property to Suncoast Leasing and Management at the time of receipt of the written notice.
Do I get a say in who my resident is or other terms of the lease?
We perform a market analysis for your property and make recommendations on the price, deposits, length of the lease and other terms, for your leasing parameters. Each Annual rental applicant has a thorough background and other qualifying searches.  The results and our recommendations are presented to you, for your decision. All annual rental offers are presented for your decision.

 

Seasonal rentals are subject to your predetermined seasonal rental listing and management agreement.  We will notify you of the confirmation of reservation and the gross income for the short term-seasonal rental.

How do repairs work?
We have a wide variety of tested and trusted vendors. We do not up charge for maintenance or receive any kickbacks from our contractors

A resident can call, email or submit a repair request through their resident portal. We can receive emergency calls 24 hours a day. If the repair doesn’t exceed $500, we will authorize our contractor to proceed with the repair. Repairs over $500 will be presented for your approval.