Answers to Frequently Asked Property Owner Questions
Q. How quickly will you be able to get my property rented?
A. This is dependent on the time of year your property is available, as well as market trends, but on average in the Seattle area it generally takes between 1-3 weeks from the start of our marketing campaign to fill a vacancy.
Q. How will you screen my tenant?
A. We screen tenant’s credit, rent history, eviction history, and criminal background checks as permitted by law, as well as well as current job status and ability to pay. We require that tenant(s) make 3 times the rent amount to qualify for the property and meet a minimum credit score of 620.
Q. Can you please send me the tenants credit report?
A. We can’t share the tenants credit report, but we can discuss if the credit report meets criteria and job information with Owners.
Q. How soon will my new tenants be moving in?
A. Every situation is different, but we do try to work with tenants for a move in date to be no longer than 2 weeks from application.
Q. How do you handle repairs?
A. We have a minimum approved amount with Owners of $300. When we receive a workorder we’ll email to notify the Owner of the repair if it is under this amount, and if over this amount we’ll email with an estimate for Owner approval before scheduling the work - unless the work is an emergency repair. In the case of emergency repairs, we have the work completed within 24 hours and we’ll notify you immediately the work is underway, and provide you an estimate of the work and progress throughout the repair.
Q. Can I do my own repairs?
A. In many cases yes, Owners can do work on their home. In an emergency situation we may need to schedule with an outside vendor, but we will include you in the conversation and progress of the work.
Q. My property needs some work before a new tenant can move in. Can you help?
A. Yes, we can help! This can sometimes help get the property on the market sooner, as we have vendors and contractors standing by and ready to go.
Q. When do I get my rental proceeds?
A. We pay Owners on the 6th of each month, unless the 6th falls on a weekend. In that case, we’ll pay Owners the Monday following the 6th.
Q. What if my tenant doesn’t pay?
A. If a tenant doesn’t pay rent, we will work with a servicer to get the proper notice drafted and served to the tenant for payment, as required by law.