Answers to Frequently Asked Property Owner Questions
What determines the rent for my property?
The leasing staff prepares a market rent survey on upcoming vacant apartments, condos and houses. The market survey includes units with similar layouts, appliances, and # of bedrooms which are compiled in your property’s immediate area. The current economy is taken into account for a fair rental price that will attract the best financially qualified applicant.
What is done to market my vacancies? Where do you advertise?
CMC Realty coordinates all property marketing. A professional stake or mounted sign is posted on the outside of each property with a vacancy. Every vacant unit is listed (on the website) and syndicated (Hotpads, Radpads, Trulia, Realtor.com, Zillow, Lovely etc.
What is involved in preparing a property for rent?
A walk through of the vacant unit is performed by the maintenance staff to determine what repairs or upgrades are needed to make the unit or house rent ready. The vendors are lined up to take care of the necessary work, with bids to owners if requested. Once the work is completed, the maintenance staff does a final inspection.
How are tenants selected?
The leasing agent at the corporate office interviews and processes the applications of all prospective tenants. A Prospect credit & background check is done on each applicant, which lists any credit problems, court records, evictions and liens and provides a debt summary. In order to rent from CMC Realty, tenants must have no evictions and proof of income 2.5 times the rent. Where pets are allowed, the leasing agent obtains a pet application and photo for each pet and pet deposit. Many dog breeds are excluded due to insurance guidelines.
How are repairs handled at my property?
CMC Realty orders out and supervises all the repairs at your property. Independent contractors and handymen are hired who give us the best price in the marketplace. Any discounts are passed to the property owner. Annual inspections are conducted to check for plumbing leaks, roof wear, peeling paint, mildew, and tenant damage. Tenant caused damage is billed back to the culpable tenant or taken out of their deposit, if they do not pay the bill back promptly.
Who are the vendors that maintain or repair my property?
CMC Realty has long standing business relationships with a variety of vendors that work locally. Many have been working with CMC Realty for over 15 years. They know the properties we manage and take extra care with their work. Licensed contractors are hired for all major plumbing, electrical, heating and roofing jobs. Various handymen and cleaning crews are used depending on the location of the property and scope of work needed.
What is your Management fee?
See Pricing under Management Fees
