Property Management’s Most Frequently Asked Questions are Answered

Naturally, homeowners have a lot of questions when it comes to deciding whether or not to use a property management company to manage their home. What does a property management company even do? How much does it cost? Luckily, Davidson Property Management (DPM) has the answers! Davidson Realty President Sherry Davidson recently sat down with one of our Property Managers, David Tiller, to get all your questions answered.

Property Management’s Most FAQ:

How does DPM earn their business and keep their business? To start, DPM lists a homeowner’s property on MLS (Multiple Listing Service), as well as a variety of other popular websites, including Realtor.com, Zillow, Trulia, FloridaRentalLeads.com, etc. to get maximum exposure for the home.

Before a tenant moves in, many photos are taken of the property’s current state, including appliances. Once a tenant is qualified and moved in, DPM conducts a midterm walk-through (around the 6 month time frame) to document and take photos of the home’s state. A report is sent to the owner, so the owner is always up to date on the home’s condition and status.

How does the owner get their rental money? DPM collects the monthly rent, which the tenant can conveniently pay online, drop off at our office or mail. It is then immediately deposited into the owner’s bank account.

What happens if the tenant’s payment is late? If the tenant is late on payment, DPM serves them with a three day notice. It is either hand delivered or posted on their door. That notice states that they have three business days from the time they are served to pay the full amount due or vacate the property.

How are repairs handled? DPM has a list of qualified and insured vendors to get the job done quickly and right. Our Property Managers take calls 24 hours a day/7 days a week. The turnaround on service calls are completed within 24 hours. The quicker the issue is handled the less damage done to the owner’s property!

What if I need a repair done and I can’t get you on your cell phone? In the off chance that you don’t reach your Property Manager on their cell phone, you can email repairs@davidsonpropertymanagement.com, which sends an email to all three property managers. That way someone will get to you right away!

What does it cost for DPM to manage your property? The cost for fully managed properties is one month’s rent placement fee and 12% of the rent monthly after that.

What’s the difference between DPM fully managing the property vs. doing tenant placement? Fully managed properties are full-service. Our team takes care of the marketing of your home, tenant placement, walk-throughs, repair calls, and all communication with the tenant. If needed, they serve late fees or deal with the eviction process. You can also hire DPM for one purpose only, which is to find a ready, willing and able tenant for your home. For one month’s rent fee, DPM will list and market your home, as well as run background and credit checks on potential tenants.

What happens when the tenant leaves? DPM conducts a move-out review to make sure the house is professionally cleaned and in the same state it was in when the tenant moved in. They make any necessary repairs.

If I were a tenant and going to move and I needed to get all the utilities in my name how would I go about knowing how to do that? During the application and lease process, the tenant will be in communication with the property manager. The Property Manager will provide the tenant will a full list of utility providers for the county they are in. The tenant is responsible for putting the utilities in their name, but DPM requires proof for the owner that that has been done.

If you have any questions about Davidson Property Management’s services, please give David Tiller a call at (904) 484-2170.