Frequently Asked Questions for Owners
Why choose Property Management?
Whether you have just inherited a property and don’t have experience in management or you are a busy individual and simply don't have the time, MVP Property Pros LLC can assist you with all your management needs. You might be relocating or perhaps retiring. Whether you are a first-time home buyer, property investor or an experienced apartment owner, you can benefit from our service. We have great success in making sure properties are leased to qualified residents and are properly maintained. Property management takes the stress out of owning rental property.
Why choose MVP Property Pros LLC?
We mean business with Professional Property Management. Our fees are competitive and reflect our expertise in the field and our commitment to excellent service. We have found that poor management can cost big and we are not doing our job if we do not keep your expenses low and your income high.
There is no better choice for your investment and peace of mind. Call 360-915-9123 to sign up with MVP today!
How do you advertise available properties?
MVP markets vacancies all ways that are proven effective. We begin marketing immediately and place ads on our website, Craigslist, North West Multiple Listing Service and many other online rental searches including Trulia, Hot Pads, Zillow, etc. We update these ads EVERY DAY until your vacancy is rented. Applicants are able to apply directly through our website.
How do you decide what rent to charge?
MVP Property Pros LLC will do a market survey of similar rental units in your area. We are also buying, selling and leasing units on a daily basis, and are very familiar with the market and changing rates. Based on this information and consultation with you, we will determine a rental rate.
Who collects rent?
Residents can securely pay rent through our tenant portal. Rent is due by the first of the month, with a 5-day grace period. When rent is received it is used to pay any maintenance / repair invoices, then disbursed electronically to the owners account.
Can I see applications and approve residents?
MVP screens and approves the residents, as our staff is trained in issues such as credit screening and fair housing. Our software has very strict parameters for determining credit worthiness.
In addition, we check all applicants’ rental history and verify employment. We are very careful in choosing residents, as we have to interact with them on a daily basis.
How do you handle security deposits?
When your resident vacates, we will provide all required accounting of the resident's security deposit within the time legally allotted. If there are damages they will be deducted from the security deposit. We are allowed by law to charge the resident's deposit for rent, damages above normal wear and tear, and cleaning. We want you to know that we consider this an important time in the management cycle, and we will protect your interests.
How often do you visit the property?
An interior and exterior inspection is scheduled when first entering contract to determine if there are any health or safety issues to be addressed. This includes such items as smoke detectors, water leaks, or trip hazards.
When filling a vacancy, the property will be shown as appointments and open houses are scheduled, sometimes on a daily basis. All interiors of units are inspected a minimum of twice a year.
What happens if there is an after hours emergency?
When you hire MVP, we become responsible for your property 24 hours a day. There is always someone available to quickly address emergencies. We also have access to vendors who can respond in an emergency, no matter what the hour.
How are maintenance expenses controlled? Can I approve all repair work?
MVP always attempts to improve your bottom line, and one way is to control expenses. MVP will get your approval and bids for all major repairs, however, if there is an emergency, or a routine repair is requested, then we will go ahead with the work and keep you informed. Our vendors are reasonable and reliable; otherwise MVP would not utilize their services. In addition, if it is discovered that a resident caused the damage, we charge the resident for reimbursement of the repair expense.
Can I use my own vendors?
MVP often continues to use an owner’s regularly scheduled vendor, such as the landscaper or pest treatment company. While we are happy to use your own vendors, one important benefit of our management services is our developed relationships with vendors who are reliable and reasonably prices.
When do I get my financial report & what does it include?
We send out a financial breakdown mid-month that includes any receipts or paid invoices that pertain to the property, an executive summary and rent roll. There is also an annual report issued with your 1099 form. You are never in the dark about your property!
How much do you charge for property management services?
Our Initial “Rent Up” fee for placing an approved tenant is the greater of $895.00 or 50% of the monthly rent rate (deducted from the tenant’s first month of rent).
If the property already has a tenant that we will be working with to apply our property management service, the set up fee is $400.
Our ongoing management rate is the greater of either 10% of the monthly rent collected or $150.