Owner FAQs

Answers to your frequently asked questions

  • Am I required to make my property available to Section 8?

    It is not required but advised. With over a decade of experience in dealing with Section 8, we can help you navigate the difficult but often beneficial process of accepting Section 8 vouchers.
  • Are you licensed?

    We are a fully licensed Real Estate Brokerage. We also hold a Builder’s License and are also Certified Lead Renovators.
  • Can I reach you after hours?

    With established clients around the country and world, we recognize the challenges presented for investors by differing time zones. For this reason, several of our key staff members are regularly available for late night or early morning meetings, calls, video chats, and conference calls. In addition, our office is fully equipped with a state-of-the-art voice over IP system that allows tenants and owners to reach us by marking messages urgent after hours.
  • Can you put the money directly into my account?

    Yes. All clients are required to have an active U.S. based bank account. Money can be sent directly to those accounts via ACH payment. The process typically takes 3-4 days.
  • Do I get to see the lease or sign it?

    All official documents such as leases are uploaded to your Propertyware owner’s portal for your viewing and record keeping. There is no need for you to sign your leases, as we are empowered to do so on your behalf as your licensed property managers.
  • How do I know you won’t spend money on repairs without my approval?

    Pursuant to our management agreement with you, all repairs over $300 require prior owner approval. The only exceptions to this are repairs deemed to be of an emergency nature. Even then we will still make an effort to notify you beforehand or as soon as possible. We will also always provide you with a copy of the contractor’s invoice and pictures.
  • Do you sell real estate too?

    Yes, we are full service real estate brokers and engage in all aspects of the real estate industry. This includes the buying, selling, leasing, listing, and showing of property.
  • How and when do I get my checks?

    Owner draws are transferred to U.S. based bank accounts only via ACH payment. This takes place once a month, usually within the last four business days of the month.
  • How is rent collection handled?

    Rent collection is handled by electronic ACH payment, mail, or on site at our 4000 ft headquarters located in the heart of historic Rosedale Park. Due to the outbreak of COVID-19 we have implemented additional safety measures in how we collect rents in person. By making a secure drop box available 24 hours a day, we have helped maintain the safety of both our tenants and employees. As forms of payment, we accept certified funds, money orders, and cash. To minimize owner expenses, we do not accept credit or debit cards currently.
  • How long of a lease do you sign?

    Typically, leases are for 12-month periods. After that tenants are on a month to month basis. Unless instructed otherwise by owners, we generally make every effort to have tenants re-sign leases upon expiration.
  • How much security deposit do you charge the tenant?

    Security deposits are usually equal to one month’s rent. Michigan state law maximizes the amount landlords are legally able to charge at one and a half times a month’s rent.
  • How soon can you start managing my property?

    New management agreements will begin on the 1st of a month. We will usually try to have a minimum of 2-3 weeks before that to prepare for their implementation. This gives us time to notify tenants of the change and set up your owner portal in Propertyware. To ensure a smooth transition, we will require you to provide us with several documents such as existing leases, deeds, tax and government documents, articles of incorporation, and others. Doing so in an expedited manner will help reduce the time it takes for us to successfully assume management of your portfolio.
  • What type of properties do you manage?

    We manage a wide variety of properties in several different areas of Southeast Michigan. Our management portfolio includes single family homes, multi-family units, small apartment complexes, and commercial properties as well. No matter what your portfolio may include, we are confident we can tailor a plan to help you maximize it’s potential.
  • What type of reports do I get and how often?

    By utilizing Propertyware, a cloud-based property management solution, we provide you with the ability to see several robust reports 24/7. Via your personal owner portal, you can see reports dealing with accounts payables and receivables and even view actual contractor invoices. In addition, at tax time important documents like 1099’s are uploaded right to your portal as well.
  • Who holds the tenant security deposit?

    As full-service real estate brokers it is important that security deposits are held or refunded in broker’s escrow. Since technically the deposit remains the property of the tenant until forfeited, owners will not have access to those funds.