Owners FAQ
Got any questions? We’ve got the answers!
Common Questions
Our leasing team ensures the property is well-prepared for viewings, presenting it in its finest condition. We then promote your property, complete with photos and a comprehensive description, across extensive networks of rental and real estate platforms like MLS, Zillow.com, Trulia.com, Hotpads.com, Realtor.com, and various social media channels. This broad exposure spans around 40 different websites. In addition, a visible street sign is installed on the property to capture the attention of potential tenants passing by.
The rental value of your property is determined by considering factors such as its condition, location, and the prices of similar homes currently available for rent or recently rented. To provide you with accurate insights, we offer a FREE Rental Analysis for your property. Take the first step by accessing it HERE.
Roughly 81% of renters in Florida are pet owners. While it’s not mandatory to permit pets, opting to do so can significantly expand your potential tenant base and reduce vacancy periods. It’s worth noting that tenants with pets often establish longer tenures, and safeguards such as Renters Insurance and the Golden Pen Property Management’s Pet Guarantee are in place to shield landlords from potential pet-related damages. Choosing this route ensures that the condition of your property remains a non-issue of concern.
To ensure readiness for renting, ensure that all primary appliances are in operational condition. This includes functional fire alarms in each bedroom and primary living space. Any health and safety concerns must be promptly dealt with. Additionally, before tenants move in, prioritize professional cleaning for both carpets and the entire house. This meticulous preparation sets the stage for a seamless rental experience.
Certainly! We highly recommend an in-person meeting before finalizing the contract. This gives us the opportunity to assess your property, furnish you with a rental analysis, and address any inquiries you may have. This way, you can make a well-informed choice about entrusting us with your property management needs.
Politely let them know that you have enlisted a professional management company to oversee the property and that they should reach out to the management company for any concerns. If they claim to have attempted to contact the management company but received no response, it’s possible they are attempting to involve you. Tenants sometimes believe that communicating directly with the owner allows them to negotiate matters like maintenance or rental terms. Our role encompasses comprehensive property management, and there’s no need for you to get further involved beyond redirecting them back to us.
Indeed, Golden Pen operates as a comprehensive realty brokerage with a team of skilled and licensed Real Estate Agents. Alongside our Jacksonville Property Management services, our agents are readily available to scout potential investment properties on your behalf.
Certainly! As a complete realty brokerage with licensed Realtors, Golden Pen is well-equipped to support you in both buying and selling properties.
Accounting & Reports
Rent is expected by the 1st of each month, with a late deadline on the 4th. Once the rent is gathered, your account undergoes reconciliation to accurately reflect the received rent and any related expenses for that month. Subsequently, your monthly statement becomes accessible through your owner portal. Moreover, your payment and statement are dispatched on the 10th of every month (or on the subsequent business day if the 10th falls on a weekend or holiday).
Owners receive their rental payments on a monthly basis, scheduled for the 8th of each month, and as required. These payments are conveniently deposited directly into the owner’s designated account.
You will receive your monthly statement via email by the 8th of every month. Additionally, Golden Pen Property Management provides an online portal for owners, granting 24/7 access to your monthly statements.
Tenants have the option to either mail their rent payment or make an electronic payment through their tenant portal. When a payment is sent by mail, it typically takes 1-3 days to be received, followed by an additional 24-48 hours for bank clearance. If a tenant opts for electronic payment via ACH (Automated Clearing House), it may take around 3-5 business days for the payment to clear. These timelines are determined by the processing speed of financial institutions for timely payments, and Golden Pen is unable to expedite this process.
Tenant Screening
We employ a methodology that evaluates several factors, including credit score, rent-to-income ratio, debt-to-income ratio, eviction history, and criminal record. Moreover, we meticulously verify income and previous rental history. We emphasize that high-quality tenants play a pivotal role in ensuring a rental property’s profitability and minimizing potential landlord challenges. Consequently, conducting an in-depth assessment of a tenant’s financial situation is of utmost importance to us.
Golden Pen Property Management conducts thorough background and credit assessments for each prospective tenant to gauge their likelihood of adhering to lease terms and responsibly maintaining your rental property.
SCREENING GOALS
Making the right choice in tenant selection for your rental property is of utmost importance. Our process revolves around confirming four pivotal aspects:
Are their claimed identities accurate?
Is their history marked by timely bill payments?
Do they possess the financial capability to afford the rental rate of your property?
Will they serve as responsible occupants, ensuring property care?
The process concludes with one of the following determinations:
Approval of the applicant
Conditional approval of the applicant (potentially necessitating an increased deposit or a co-signer)
Denial of tenancy
Eviction
Our Eviction Guarantee, offers coverage to our Jacksonville Property Management clients in situations where eviction becomes necessary for any tenant we have placed.
Generally, an uncontested eviction process spans around 14-21 days, while a contested case may extend from 26 to 35 days. Once a lock-out date is confirmed, NestFinders can initiate the marketing of your property to potential new tenants.
Maintenance
In cases of repairs stemming from natural wear and tear, the homeowner usually assumes responsibility. Conversely, if the repair arises from tenant negligence, the tenant will incur charges, and subsequently, the homeowner will be refunded for the repair expenditures. We ensure transparency by supplying pre and post-repair photos, allowing our homeowners to validate the repairs done and ascertain the reasonableness and fairness of associated costs.
Tenants have the convenience of using our online portal to submit maintenance requests. Additionally, for any emergencies that arise around the clock, we provide a 24/7 hotline.
If your contact is both licensed and insured, they can complete a vendor packet and be included in our roster of vendors. Our policy permits only licensed and insured contractors to carry out work on properties under our management. This practice is in place to ensure both your safety and ours.
An emergency refers to a situation that significantly impacts the well-being or safety of a tenant. Examples of common emergencies include: mold growth, fire incidents, air conditioning failure in temperatures exceeding 85 degrees Fahrenheit, heating system failure in temperatures below 40 degrees Fahrenheit, non-functional toilet when there’s only one bathroom in the house, absence of hot water, sewage backup, ceiling leaks, water leakage, and violations of building codes.
Property Management
As Property Managers at Golden Pen Realty, we act as representatives for landlords and property owners. Our responsibilities encompass a wide range of tasks, including readying properties for rental, conducting inspections before, during, and after leases, marketing vacant homes, and placing tenants as needed. The scope of a property manager’s role is diverse, involving activities such as showcasing properties to potential renters, evaluating applicants, verifying income and rental track records, and managing lease agreements and renewals. Our involvement doesn’t cease once a tenant moves in. We handle ongoing maintenance, oversee completed tasks, manage payments for the property owner, document financial transactions, and provide regular financial reports. The demanding role of a property manager requires a meticulous and committed team of professionals to ensure both the property and its tenants receive optimal care on behalf of the property owner
At Golden Pen Property Management, we hold your time in utmost regard. What sets us apart is our dedication to providing you with the tools and resources and we’re committed to empowering you to pursue your aspirations while maintaining a successful rental portfolio.
Golden Pen Property Management is more than a choice – it’s a conscious decision to reclaim your time, streamline your investments, and empower your dreams. With us, you’re not just delegating tasks; you’re collaborating with a team dedicated to your success
No, as per legal regulations, the security deposit doesn’t belong to the owner. It serves as a deposit for the property and its funds will be securely held in our Corporate Trust account to ensure compliance.
A Golden Pen representative will conduct an assessment of the property’s readiness for renting. If the property does not meet the necessary standards for renting, we won’t proceed with leasing it. As soon as essential cleanup and repairs are finished, usually within 24-48 hours, we will resume marketing and promoting the property.
Marketing initiatives are displayed on the Multiple Listing System (MLS), universally used by Florida Realtors, and our own website. The MLS enjoys a wide reach with over 23,000 agents and 50,000 daily views, and it syndicates across 100+ websites. Similarly, we collaborate with local Realtors, insurance firms, relocation companies, and install a For Rent sign on the property’s yard.
Our online application system permits potential renters to submit applications and required documents round-the-clock. All expenses related to advertising are covered by the Tenant Placement fee. There are no additional charges for the property owner. Thanks to this streamlined system, our average days on the market range from 14 to 21 days, significantly lower than the industry standard.