1. How many units does Red Apple, REALTORS® manage?
2. What kind of staff do you have working these properties?
One property manager; All REALTORS have the opportunity to show all rental properties.
3. What is the process for screening tenants?
We charge a $40 application fee to each adult wishing to rent a property. We use the AppFolio online background check system. Tenants can apply online. This process checks background, credit and criminal activity across the United States. We like to see a 600+ credit score, do not accept tenants who have any utility bills in collections and we follow up on past rental history. Owners will have the final say on tenant acceptance.
4. I have an eviction, will you rent to me?
No. We do not approve any applications with an eviction record, foreclosure, or any record of you walking out on a lease or owing another management company unpaid rent.
5. My boyfriend doesn’t really live with me, he only stays 2 nights a week. Do I still need to fill out an application for him?
YES. All adults living in the property are required to submit an application.
6. What fees do you charge your property owners?
We charge 10% per month. The only time the fee changes is at tenant change and that fee is 20%. That additional 10% pays the agent who shows the property and brings the next tenant.
7. Is there a charge to the property owner when the tenant doesn’t pay or when the home is vacant?
Red Apple charges property owners a 10% monthly management fee. No fees are charged if your property is vacant.
8. When is rent due for all your tenants?
Rent is ALWAYS due on the 1st with a grace period of midnight on the 3rd. Late fees begin on the 4th. We have a drop-slot on site for anyone not paying with bank draft or auto pay.
9. When do you charge late fees?
Late fees begin AT MIDNIGHT on the 3rd. Late fees are set according to the lease. Typically, all late fees are 5% of the rent as a base late fee and then half of that cost per day for each additional day. Late fees remain with the property management company.
10. How do you pay your property owners?
I promise to pay all property owners by the 5th (or closest to the 5th depending on how the month falls). All owners are paid by auto deposit.
11. Do you send out reports with your payments to property owners?
I only send info via email. By the 5th of every month, each property owner gets an Owner Statement showing all the activity on their property. Copies of all repair invoices are sent with this monthly form. These forms are online and always available through the Owner Portal through our website: www.RedAppleRealtors.net under the owner tab.
12. How do you monitor what is going on with my property?
I do quarterly and bi-annual inspections; Homes under $900 are seen quarterly, homes above $900 are seen twice per year. I also do occasional drive-bys to check on the yard and to make sure the outside of the house is neat and not surrounded by junk or trash.
13. How do you handle repairs?
I promise you, the property owner, that I will not do any repairs that cost over $250 without your approval and consent. I am a good judge of repairs that are necessary to a tenant’s safety and I will call the vendor of my choice to do the work. I will pay the vendor directly and will deduct that exact fee from your rent proceeds the following month.
14. Does your company or personnel in the company own any of the units Red Apple manages?
Yes. My husband and I own residential and commercial property. I encourage all REALTORS at Red Apple to invest in rental properties.
15. How long does it normally take to fill a vacancy for single family homes?
You never know! I no longer advertise rentals in the local paper. The MLS®, the Vacancy List on our website, and a sign in the yard is all it takes. Location, cleanliness, updates and price play a big part in rentability.
16. How long do tenants stay in your homes?
I have some tenants that have signed 2 year leases. I have some that are on a month-to-month lease and have been there for 4+ years. Their staying power depends on their situation. Only a few of our properties allow for a 6 month lease. One year leases are typically the minimum.
17. What do you do when someone doesn’t pay or doesn’t pay on time?
I charge late fees for untimely payment. I start calling on the 3rd. I send texts and emails. If rent is not received by the 5th and no arrangements have been made, I post a notice to evict. If the “promised” payments are not received, I turn the notice into an eviction by filing it with the Justice Court, Precinct 1 of Taylor County. I’ve had 4 evictions in the last 12 years.
18. If a property gets bed bugs, who pays?
Beginning in January of 2017, all tenants sign a “bed bug addendum” attached to their lease that advises them on how to avoid bed bugs and acknowledging to them that TENANTS are responsible for the remediation of any bed bug infestation.
19. Are pets allowed?
Pets are allowed with owner approval. No aggressive breeds are allowed. If owners approve, there is a $250 non-refundable pet fee per pet. The pet fee goes straight to the owner at the time of lease signing with no deductions. Homes that don’t allow pets tend to take longer to rent.