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OWNER FAQ'S

 

 

  1. What services does your company provide me through property management?

Gateway 2 Property Management provides ease of mind for an owner looking to become a landlord.  Renting a property does not need to be stressful to you. Allow us to handle everything from listing your home, tenant screening, marketing the property, completing the lease, coordinating move in, utility transfer with tenant, and just fully renting your home.  Once a tenant is moved in then we handle record keeping, property inspections, rent collections, maintenance, eviction coordination, and all customer service issues.

 

  1. What are your office hours?

Our office hours are Monday - Friday 9am -  5pm and we are available for emergencies on evenings and weekends.

 

  1. What will it cost me to have my home Property Managed?

Our Listing Fee is equivalent to one month's rent. This fee is to procure a suitable tenant. It includes all marketing, advertising and paying a Realtor compensation to the tenants realtor. Our Management Fee is 10% of the gross rent collected each month. Our monthly management fee is payable collected when you tenant makes a payment.

 

  1. Do you charge a monthly management fee when the home is vacant?

No. There is no charge if the property is vacant.

 

  1. How long does it take to process an application?

Processing time can vary but normally takes less than 3 business days.  Some special circumstances may require a little more time. (applicant is notified.) A faster turn-around time is possible when necessary.

 

  1. Do you check credit or anything else during the application process?

A complete background, rental, and employment history report of the applicant is pulled and is reviewed with the application.

 

  1. Do you accept or recommend accepting applicants with non perfect credit?

Credit is important to our application process, however, it is not the only thing we recommend looking at.  If an application is outside the box and requires special approval then it may also require an additional month as a deposit. If there are multiple applications on a property then the best qualified, strongest applicant will be selected.  You as the owner may be notified of the situation and can make the decision whether to accept the applicant.

 

  1. What is section 8?

A federally funded program that provides affordable, safe, decent and sanitary rental housing for low-and moderate-income families.  Rental payments are made directly Property Management Company (Owners) and are a combination of both a tenant's portion and/or the portion designated to be paid by the Public Housing Authority.

 

  1. Once an applicant is approved when do I sign the lease?

The lease is prepared and sent to the tenant or the tenant's agent within 2 business days of the application being approved and we request that it is returned within 3 calendar days with the Security Deposit and first month's rent. Once the lease is returned by the tenant, (tenant's agent) it will be forwarded to you (the owner) for ratification.

 

  1. How much is the security deposit?

Typically Security Deposit's are one month's rent but can be as high as two month's rent depending on the applicant's situation and approval.

 

  1. Do I have to allow pets? And if so, is there an additional deposit for the pet?

You do not have to accept pets. We do ask that you consider each situation on a case by case basis though. Please keep in mind that many tenants that are relocating do bring their pet along and by saying 'no pets' in the listing we are missing out on many potentially great candidates.

 

  1. If I accept a pet is there anything that the tenant will sign accepting responsibility for damage to the property?

If a pet is accepted then the tenant is required to sign a pet addendum which lists the owner as 100% responsible for any damage the pet may cause at the property.

 

  1. Do I have to purchase a home warranty?

The purchase of a home warranty is strongly recommended. Not having a home warranty can be more costly to the owner as every service call the tenant places will need to be paid for out of pocket. Please review the home warranty pamphlet on our website under the owner tab and you will see all the items that are covered. Please remember that with the home warranty the tenant will be responsible for paying the $60.00 service call fee. Warranty cost is approximately $585.00 per year.

 

  1. Is there a repair deductible / service call fee when using the warranty and if so, who pays it?

There is a repair deductible / service call fee on all of our properties and it is $75.00. The repair deductible / service call fee is written into the lease as the tenant's responsibility.

 

  1. Is there anyone I can call to discuss the home warranty or to ask additional questions?

Yes. Please feel free to contact First American Home Warranty 1 800 992 3400 . Please be sure to mention you are working with Gateway 2 Property Management.

 

  1. If a tenant pays their rent late, what is the late fee and will I get the late fee?

The late fee is 5% of your monthly rent and yes the late fee goes directly to you as soon as we receive it!!!!  (If you are on the ALP program then it does not)

 

  1. Do you accept rent payments online?

We do accept online payments. Tenants can pay with a check online with no additional fee. 

 

  1. Do I get a walkthrough of my home with the Property Manager and tenant prior to the tenant moving in?

A thorough walkthrough of the home will beperformed prior to the tenant moving into the home. The owner is invited and encouraged to attend, however, it is not mandatory. A checklist will be filled out and provided for the tenant to sign and will be posted on the portal. Pictures will be taken and provided on the portal as well. 

 

  1. When do I have to transfer utilities?

Tenants are responsible to have the utilities transferred before they take possession of the.  Proof of utility transfer must be submitted at the walkthrough along with first month's rent in order for keys to be handed over to the tenant. We recommend that you not cancel utilities but instead inform the utility company that they will be transferred. Please be sure to check to ensure that there were no mistakes on the utility providers end and that they were indeed transferred the day of the lease start date. It is your responsibility to ensure you are not being charged for utilities after the tenant moves in. If you have questions please inform us immediately.

 

  1. How long after move in does the tenant have to report issues that were found and can be made part of the move in inspection?

Tenant's are allowed 5 days from their move in date to report any new additional issues they find at the home. You will be responsible for repairing and/or paying the service call fee for items reported during these 5 days. This report must be submitted by the tenant within 5 days but it may be a little longer before you see it as we must review the report and may need additional information on the issue before we request for you to repair.

 

  1.  What if a tenant has to report a maintenance issue during the lease term?

Tenant's are instructed to report any non emergency maintenance issue on our website. If you receive a call from a tenant that has a maintenance issue that is not life threatening, please direct them to our website at www.gateway2pm.com. If they have an issue during off business hours they are asked to report it on the portal and text 571 641 0835. 

 

 

  1.  Where does the tenant do if they have an emergency on evenings or weekends?

If they have an emergency (such as fire, lack of Heat in extreme temperatures, burst water pipe, etc) they must place a request on the portal and text 571 641 0835.

 

  1. How often do you do inspections?

Inspections are done every 6 months with advanced notification and planning. You will be contacted by our inspections agent to set up a time that works for all parties involved.  You are encouraged to attend but are it is not mandatory. We will provide you with a summary and pictures.

 

  1. What are you looking for during inspections?

During an inspection the agent will walk the property to ensure all fixtures, and appliances are in working order and the house is in good condition.  The agent will take pictures and note the file. 

 

  1. When will I receive my rent payment? Your rent payment will be made as soon as it is settled into our account from the tenant.   

 

  1. What if the tenant stops making payments on the rent? If the rent is not received by the 5th of the month, than a courtesy reminder is sent. If tenant does not reply within 5 days then a 5 day pay or quit notice is filed.  If the tenant fails to comply then all necessary legal steps are taken to achieve an eviction. If evicted, the tenant owes the remainder of the lease and we can file a civil suit against them on your behalf. (All fees associated with collecting the rent and filing a suit including court costs, and lawyer fees are at the owner's expense.)
  2. How long before my lease expires should I notify you of my intentions to renew or not?

We are required by the lease to give the tenant a 60 day notice of your intention to renew your lease or not. We would like to know 75 days before your lease expires if you plan to continue to rent the property and whether you would like to renew the current tenant or if you would like to place the home on the market for rent or sale.

 

  1. Can you put my home back on the market prior to the tenant moving out?

Yes. The home can be put on the market 60 days prior to your lease expiration date. A lockbox and sign are installed on the property, pictures are taken and the home can be shown to potential tenants. If you wish to sell the home then the lease allows for 90 days before. 

 

  1. Can I sign a lease with a new tenant before the current tenants move out? Absolutely! As the long as the new lease start date is after the current tenant's lease expires.
  2. Will there be a walkout inspection done with the current tenants? Yes. All tenants will get a move out inspection prior to their security deposit being released. The walkthrough must be done within 72 hours of the tenants lease expiration date. Owners are encouraged to attend the walkthrough but are not required to. Any items that will be charged from the tenants deposit must be found at the walkthrough.
  3. Is there fees for re-renting my home?
    The fee is one month's rent. This fee is to procure a suitable tenant. It includes all marketing, advertising and paying a REALTOR compensation to the tenants realtor.
  4. Whom do I call with additional questions?

Feel free to send us a message on the portal or call Trancito Laureano (Property Manager at 703 652 5717) 

 

 

Gateway 2 Property Management

7521 Virginia Oaks Drive, Suite 100

Gainesville, VA 20155

703 652 5717

   
Call Us for a Free Minot Property Management Consultation
www.propertyware.com