Questions About the Company

What are your office hours?

Our office is open from 9:00am to 5:00pm, Monday – Friday. After hours and weekends are available by appointment.

Where are you located?

4110 S. Florida Ave Suite 100. Lakeland FL 33813 (1/2 mile south of Polk Parkway, Next to Dairy Queen)

Can I reach you after hours?

Yes. EXPERT Property Management has an on-duty agent for after hours inbound phone calls after 5 p.m. Mon - Fri and all day during weekends and holidays. In cases of emergency, a service request can be submitted on the website 24 hrs a day, and the property manager can be contacted directly at 863-838-7804.

Can I reach you via the internet?

Yes. You can reach us via email at Bellamy.Jake@gmail.com or through our website at MyRentalExperts.com

Are you licensed?

Yes. We are licensed under RE/MAX EXPERTS, a licensed entity in the State of Florida and Jake Bellamy is an active licensed broker.

Questions About The Service

Can you put the money directly into my account?

Yes. With the completed authorizations we can deposit funds directly into your account via REVOPAY.

Do I get to see the lease or sign it?

Yes. The official lease, once generated by the attorney, will be sent to you by email so you can review it and E-sign. A sample copy can be found on our website for you to review.

Do you pay all the bills?

We will make monthly bill payments for the property (paid for by the property owner) as long as we have the funds to do so. Pool, Lawn, HOA payments, Utilities, etc. can be set up to be paid through EXPERT Property management.

Do you sell real estate too?

Yes, EXPERT Property Management is a branch of RE/MAX EXPERTS, we primarily focus on Property Management. As a branch we have an excellent partnership with our sales agents and can refer you to one of our partner agents to make sure your property is taken care of in the best possible way. Whether you are looking to invest, buy or sell.

Do you work with Section 8?

No, we are not currently set up for Section 8. We do not believe the Section 8 program provides enough of an advantage, to outweigh the risk. We have found that a quality self-paying tenant with a security deposit in place, is much more likely to properly maintain the property and pay on time. See our “SECTION 8 FAQ Document” under Owner Documents.

How and when do I get my checks?

Reports and net rent proceeds are sent out no later than the 10th day of the month. Rent proceeds may be sent either by paper check or by direct deposit into an account designated by the owner through REVOPAY.

How do I terminate my current manager?

Please refer to your management agreement with your current manager. We would be happy to advise you on the legal requirements as outlined in FLORIDA STATUTES CHAPTER 83 PART II, “FLORIDA RESIDENTIAL LANDLORD AND TENANT ACT.” But, we cannot interfere with an active management agreement between you and another party.

How is rent collection handled?

There are multiple options for our tenants to make their rental payments. Payments can be made online with a checking account, in person or by mail to our office, having their accounts drafted through our online REVOPAY system. We do not go to the home to collect rent. Late payments are not tolerated as there is no excuse.

How long of a lease do you sign?

One to Two years. Depending on the Owner’s situation, HOA covenants, and the tenant, the lease term is negotiable. Our minimum lease period is one year and maximum is 2 years. Our attorney advises against a longer than 2 year lease because of its difficulty to enforce.

How much security deposit do you charge the tenant?

The minimum security deposit shall be equal to one month’s rent. Additional deposit may be required based on a tenant’s credit and pets.

How soon can you start managing my property?

If you are not currently involved with a licensed management firm we can start immediately. Please call our office and we can mail, fax, or email the entire package including the management agreement. If you have a manager currently, you will need to discontinue their services before we would be able to manage the property for you.

It doesn’t look like your rent price analysis will be enough to cover my expenses, what do we do?

We set the rent price, but the market dictates it. Our rental research is based on currently marketed rentals and previously leased property. We show you what the market is paying for your home. You can ask any price you want, but you need to keep in mind your average tenant doesn’t really care what you need, how much you paid for the property, or what your mortgage payment is. A tenant is looking for the best property, at the best price, and what meets their needs and budget. Like anything else, if a tenant can get the same thing cheaper around the corner, then that’s where they’ll go. Our goal is to get the most rent that the market will allow. We can list the property for a slightly higher rent than the market dictates, with an agreement to lower the price after specific time period until the property rents.

What is the term of the management agreement?

Management agreements are signed for a 6-month term and continue for the life of the tenant placed on the property.

What services do you provide?

We do everything required to maintain the property and provide you with the greatest return on your investment. We offer a Full-Service Management or Tenant Placement Only.

What type of properties do you manage?

We focus primarily on mid-level to high-end rental properties. We do not manage large complexes or “parks.” This range of properties provide the highest return on investment for owners and attract quality tenants.

What type of reports do I get and how often?

An Owner’s Statement is provided once a month. It includes a cash flow, receivable summary, and any invoices for expenses incurred in the given report month. Reports are sent out with check no later than the 10th day of the month following the month of rent.

Who holds the tenant security deposit?

EXPERT Property management shall collect security deposits in connection with the rental of the property in amounts equal to one month’s rent or greater. Funds are held in a non-interest bearing escrow account.

 

Questions About the Fees

What expenses will I incur up front?

Nothing. There is no charge for initial set up and listing of the property. We get paid when your home gets rented. We do charge a “cancellation fee” to cover our expenses for marketing, advertising and showing the property. Owner is responsible for any “make ready” repairs needed to make the home marketable; such as needed cleaning, painting, flooring and landscaping.

What do you charge when the property is vacant?

We do not charge a vacant property fee. The initial tenant placement fees are taken from the first month’s rent and monthly management rate is taken from each month after.

What does all this cost?

Our monthly management fee is 50% of the first month’s rent and 10% of the monthly rent for the life of the tenant. Non-Managed tenant placement is 100% of the first month’s rent.

Who pays for advertising?

All marketing and advertising is included in our fee. If the owner wishes to have additional signage or advertising created the owner shall be responsible for associated expenses.

Who pays for repairs?

As the owner of the property, you pay for maintenance and repairs, unless it is damage caused by tenant’s neglect or mistreatment, then the tenant is responsible for payment. Any repairs due to tenant negligence will be paid by tenant as additional rent or deducted from deposit balance at move out. Our vendors are trained in identifying tenant caused problems and note responsibility of tenant on work orders.

Questions About The Property

Do I have a choice in who lives in my property?

YES and NO. EXPERT Property Management will present the screened and qualified tenant(s) to the owner to make the final decision. We may decline a tenant due to not meeting our selection criteria and inform the owner that they have been declined. Tenants may be declined due to credit, pets and criminal history. Tenants who fall just short of our selection criteria are considered “borderline,” and may be accepted with owner’s approval and additional deposit.

EXPERT Property Management does not discriminate based on race, creed, color, religion, national origin, ancestry, sex, marital status, handicap, or familial status and shall be in accordance with all local and federal Fair Housing and Equal Opportunity housing laws and regulations.

How is maintenance handled?

Emergency repairs are responded to immediately. An emergency is considered to be only those circumstances where health and safety are threatened or damage is being or has been caused to the property. Such as Fire, Flood, Uncontrollable Water, Backed Up Sewer, or Electrical Problem Endangering Life. Should an issue occur after hours during weekdays or on weekends tenants are encouraged to call the on-duty property manager directly, so they can dispatch the appropriate vendor. Non-emergencies will be handled the next business day.

Non-emergency maintenance requests are submitted via phone call and website. Once the repair is requested, a work order form is created, a third party vendor is contacted and the vendor will contact the tenant directly to set up a time. Once the vendor arrives they will notify EXPERT Property Management of the needed repairs and severity. Minor repairs falling under $200 will be completed. For repairs expected to exceed $200, the vendor will contact us with a repair quote. The owner will be contacted to explain the needed repair and get verbal permission to move forward with the repair. For large repairs exceeding $1000, the owner may request multiple quotes from different vendors. Owners are asked to pay vendors directly for repairs exceeding monthly rent proceeds. Tenants are made aware at the time the lease is signed that should they be responsible for the damage they will be charged for the repair cost.

How long will it take to rent my property and what will it rent for?

Our properties rent on an average of 28 Days. The market dictates how long it will take to rent a particular property. Many factors influence demand, the biggest factor being price and time of year. The more exposure a property has at a competitive price, the sooner a property will rent.

How often do you inspect the property?

Interior evaluations are scheduled once a year. Drive-by inspections are performed routinely and can generate red flags for additional interior evaluations. In addition to our evaluations, move-in and move-out walk- throughs are completed in detail with copies provided for the file.

Should I rent furnished or unfurnished?

To attract a longer term tenant, unfurnished is preferable. Furnished rentals may attract a shorter term or transitional tenant more than an unfurnished property. Renting a property furnished may also present a higher risk of personal property items being lost, damaged or stolen. Furnished includes all necessities, dishes, pots pans, silver, bedroom and bathroom linens. A detailed inventory list of all personal property items left in the property is suggested should it be the decision of the owner to rent out a furnished property. EXPERT Property Management shall not be responsible for any lost, stolen or damaged personal property of the owner.

What do I need to do to my property before I can rent it?

We recommend that your unit be professionally cleaned throughout, including inside, under and around all appliances. Windows should be clean, carpets should be professionally cleaned and all personal property should be removed from the property, including attics and storage units. We also recommend neutral paint colors in a scrub-able finish that can be easily cleaned, touched up or repainted between tenants. The unit should also be odor free or at most lightly scented. The cleaner a property is and free from damages/defects the better it will show. Resulting in less vacancy and higher quality tenants.

What kind of insurance do I need?

A landlord/dwelling policy with minimum $100,000 liability coverage is recommended. We suggest you speak to your insurance agent about coverage for rental property. This will ensure the appropriate coverage is in place while the property is being rented. Your insurance company should have all this information. Tenants are encouraged to secure a renters policy to cover their personal items and personal liability.

Who does your repairs?

We use experienced independent third party vendors that are licensed and insured when required. We have a list of preferred vendors available. During repairs our preferred vendors visually inspect the property notifying us if the home is in poor condition so we can initiate further inspection. The vendors we use are skilled in their area of expertise. Depending upon the maintenance issue at hand and its level of urgency, a vendor is chosen and sent out to the property to address the issue. For minor repairs we have highly-skilled handy personnel who handle most repairs for less licensed contractors. Major repairs do require a licensed contractor.

Questions About The Tenants

Can I do my own repairs?

We would prefer that a licensed, insured and/or bonded vendor provide these services. Part of the reason EXPERT Property Management is in place is to coordinate the repairs and relieve the owner from having to do so.

Can you just get me a tenant and I’ll manage the property myself?

Yes. We offer a tenant placement only service for a fee of one month’s rent.

Do you guarantee tenancy?

No, unfortunately we cannot guarantee tenancy. No matter how well we may screen a tenant, they may look great on paper and not live in a property as expected. Every property owner is taking a risk in renting out their property. We do our best to screen a prospective tenant as thoroughly as possible and try to minimize that risk. We currently have an eviction rate of less than 1%. Should we have to evict a tenant within the term of their lease we will take the necessary action to minimize both financial and physical damages.

How do you screen prospective tenants?

Applications are processed based on screening criteria including income to rent ratio, credit score, employment verification, landlord references and criminal background. We require a credit score of 600+, no foreclosure or bankruptcy within 2 years, no evictions or collections associated to housing. EXPERT Property Management does not discriminate based on race, creed, color, religion, national origin, ancestry, sex, marital status, handicap, or familial status and shall be in accordance with all local and federal Fair Housing and Equal Opportunity housing laws and regulations.

What about utilities?

Tenant is responsible for utilities during lease period. Owner is responsible for utilities during vacancy. EXPERT Property Management has the ability to turn on utilities and bill owner for usage during vacancy.

What are your feelings about pets and smokers?

Pets are a personal preference. Properties with fenced yards are in high demand for pet owners. Additional deposit or pet fee will be collected based on pet size and weight. We do not rent to tenants with pets classified as angry breeds, due to increased liability and insurance parameters. We recommend NO SMOKING for all of our properties. A home with a smoker requires extensive painting and cleaning to remove odor after tenancy. Often times the criteria determined either widens or narrows the prospective tenant pool.

What happens when the tenants are late with the rent?

Rent is due on the first day of the month and by the 5th day considered late. Late fees are imposed on late payments. On the 5th tenants who have not paid receive a courtesy call reminding them of rent deadline. After the 6th of the month if we have not heard from the tenant and have not received payment arrangements, a three day notice for payment is served. If the tenant has not made payment, made payment arrangements or moved out within the three day period, then we contact the owner to discuss proceeding with the eviction process.

What if the tenant breaks the lease?

Tenants who break their lease or do not fulfill their obligations of the lease are responsible for all costs associated with the term of the lease. Per the lease, tenant may be responsible for payment of termination fees and any other miscellaneous charges associated with the breach of the contract. By the tenant breaking the lease early, they are defaulting on the lease term and therefore forfeiting their deposit.