HOW LONG DOES IT TAKE TO START MANAGING MY PROPERTY?
We will begin onboarding as soon as the management agreement and all other critical documents are signed and submitted. There are many steps involved in onboarding, but most critical items will be completed in the first 24-48 hours of our management.
HOW LONG DOES IT TAKE TO FIND TENANTS?
This can vary depending on the property and the investment made into marketing the property. We require that all tenants submit an application and pass our screening requirements before approval to move into an Alltrade unit. Once completed, as soon as they bring the security deposit, we will schedule a move in. Depending on how quickly the tenant acts, this process can take as little as 24 hours.
HOW DO THE APPLICATION FEES WORK?
Prospective tenants must pay an application fee at the time they submit all their application materials. Once the application fee is received, we will move forward with the screening process.
WHAT IS THE PROCESS OF DETERMINING MY PROPERTY’S RENT?
We’ll use practical tools and result-oriented strategies to determine the proper amount of rent in your property. Among other practices, we research market comparisons and take into account your investment goals.
HOW DO YOU COLLECT THE RENT?
We offer tenants a variety of payment methods, including paying by money order, check, credit/debit card, and ACH in-person or online.
WHEN DO I GET MY DISTRIBUTION?
At your discretion, but generally by the middle of the following month.
CAN I GET PAID VIA DIRECT DEPOSIT?
Yes, we can agree to make direct deposits to your preferred bank account.
DO YOU SCREEN TENANTS?
Yes, we screen all the prospective tenants over the age of 18. Our screening criteria will examine their criminal history, credit history, income, and previous rental debt. We document and regard these in accordance with local and federal Fair Housing guidelines.
CAN I KEEP MY CURRENT INSURANCE?
Yes, you may keep your current insurance when we begin the management of your property, but please check with your insurer to make sure that your coverage will continue. Before we begin managing your property, we will need to see proof of your insurance. We offer a Master Insurance Policy offering if you need to change insurance policies.
WHAT DOES MY TENANT HAVE TO DO BEFORE THE MOVE-IN?
First, your tenant needs to successfully get through our application and screening process. Once approved, they must pay the full security deposit in order to reserve a unit and schedule a move-in date. They will also need to pay their first month’s rent on move-in day. On this day they will also sign their lease and receive their keys.
HOW WILL MY TENANT BE CLEARED FROM THEIR LEASE?
When your tenant moves out, we will do a walkthrough inspection of the property to assess for potential tenant charges from damages incurred beyond reasonable wear and tear. Once we calculate tenant charges, we will process the security deposit within 30 days of the move out date. Then we will send the security deposit refund if there is money remaining after applying the damage charges. We follow all the requirements of the Landlord-Tenant Act.
WHAT KIND OF INSPECTIONS DO YOU CONDUCT?
We conduct standard move-in and move-out inspections as well as routine maintenance inspections. We also have an in-house team equipped to perform new property inspections and due diligence inspections when requested.
WHO PAYS FOR UTILITIES?
As the owner of the property, you will have a say in who is responsible for which utilities. When making this decision, you should consider the setup and location of the water meter to decide the most practical utility arrangement. Typically, tenants are responsible for their personal gas and electricity. Water, sewer systems, and trash are typically included in the rental rate.
WHAT IF MY TENANT DOESN’T PAY RENT ON TIME?
Our lease agreements contain strict rules about the failure to pay rent and late fee charges. If we do not receive payment by the late fee cut out, we will send a Late Notice in accordance with local regulations and then proceed with an eviction if necessary.
WHAT ARE YOUR LATE FEES?
The late fees vary from property to property, but generally, late fees will be a 50-100 dollar flat-rate fee.
DO YOU KEEP LATE FEES?
WHAT’S YOUR POLICY REGARDING PROPERTY DAMAGE?
Per our management agreement, we seek your approval for any expense over $400. We also assess each situation to see if we should bill the tenant for the property damage. We would only proceed on a repair over $400 without your approval if there is an emergency that is posting a safety hazard or further property damage.
WHAT VISIBILITY DO I HAVE INTO THE DAY-TO-DAY OPERATIONS OF MY ASSET(S)?
As an Alltrade client, you will have access to your Owner Web Access portal. This online portal provides you with an in-depth look at open and closed service issues, bills, and reports that you can export to Excel, PDF, or CSV.
IS IT A GOOD IDEA TO WELCOME PETS?
We do recommend allowing pets. The majority of our portfolio allows pets and follows the Alltrade standard pet policy. Choosing to not allow pets can certainly decrease the number of prospects interested in your property; however, you ultimately can decide whether to allow pets or not.
DOES HIRING A PROPERTY MANAGER LEAD TO A LOSS OF CONTROL?
Absolutely not. Hiring a property management company allows you to involve yourself as much (or as little) as you would like. We work alongside you to help optimize the performance of your asset and are happy to tailor our services to meet your expectations. That said, we serve our clients best when they trust us to run their day-to-day property operations and when they communicate their expectations clearly from the onset.
WHAT IS YOUR MANAGEMENT FEE?
Our management fee ranges on the property size and location. Alltrade does not have leasing fees.
WHAT DOES THE MANAGEMENT FEE INCLUDE?
Our management fees include the day-to-day management of your investment. This includes coordinating repairs, collecting rent, and showing and leasing the property.
WHAT SOFTWARE DOES ALLTRADE USE?
Alltrade uses Rent Manager as our property management software. Rent Manager provides prospect tenant and current tenant record-keeping functionality. It also integrates with many other partners that allow for online payments and easy tenant screening amongst many other functions.
HOW MUCH IS MAINTENANCE?
The cost of maintenance depends on the repair to complete. Alltrade has several different approaches to repairs. It is best to communicate with an Alltrade representative to understand what the cost of maintenance will be in your situation.
WHAT SERVICES DO YOU PROVIDE?
Alltrade is a full-service property management company. This means we offer leasing, marketing, maintenance, accounting, and operational services for your property as well as construction and project management services.
HOW LONG DOES IT TAKE TO TURN AN APARTMENT?
An average turn, including walking the unit, calculating the estimate, receiving the estimate, and completing the work, usually takes about 30 days. However, the scope of the necessary work can of course impact that time.
WHO WILL BE MY DIRECT CONTACT?
We will assign you a Client Services Manager (CSM) who will act as the primary liaison between yourself and Alltrade. Your CSM will dedicate themselves to your individual portfolio. While you may communicate with some people in the organization outside of the CSM, nearly all of your communication will include them or will be funneled through them.
HOW DO AFTER-HOURS MAINTENANCE REQUESTS WORK?
We have an after-hours maintenance emergency call line that tenants can call if they have an emergency issue. We have an approved list of things that are considered emergencies and that will be dispatched as soon as possible once the call comes in. If the issue is not considered an emergency, it will be entered into our system and addressed during regular business hours.
HOW DO YOU MARKET RENTAL PROPERTIES?
Our in-house advertising team will market your units on the Alltrade website, Zillow, and Craiglist. We will also use yard signage on your property itself. Our team can advertise featured properties on Facebook and other social media as requested. We also work closely with large advertising vendors such as Apartments.com and can coordinate the contract on our client’s behalf.
WHAT IS THE DUE DILIGENCE OR BUYING PROCESS?
Alltrade can provide a thorough due diligence checklist and can assist with a multitude of tasks that relate to the property acquisition process. These tasks are provided at no cost to our client with the assumption that Alltrade will manage the asset. Alltrade provides due diligence services as a 3rd party contractor as well. It is best to speak to our Business Development Director for an overview of the services that we provide.