Owner Frequently Asked Questions

• Q: How much can I rent my house for?

  A: Give us a call or drop us an email and we will be glad to run a full market analysis for you. There are a number of factors that determine the optimum rent that you can charge, which are largely driven by the local market conditions such as supply & demand as well as current competition. However, there are many other factors that can influence the amount of rent that your home will yield including the interior and exterior condition, upgrades, amenities, location in the community, and even its curb appeal. We perform a thorough analysis and give you our professional opinion on how to obtain the best rental price possible. In some cases, we may recommend some improvements to the home based on a cost / benefit analysis.

• Q: Can I offer my property for sale and for lease at the same time?

  A: Yes, you can have a dual listing on the property with it on both the sales and rental markets at the same time. Give us a call. We would be glad to explain how this works.

• Q: Can you take over management of a home that I currently have occupied with a tenant?

  A: Yes, we can take over your existing tenant and rental. Our proven processes make this transition smooth and seamless for both the property owner and the tenant.

• Q: How do you screen tenants?

  A: Quickly and thoroughly. We process each application with attention to details, securing all possible information so that you, as the property owner, can make a confident and informed decision regarding application approval or denial. We run their credit, background check, rental and employment verification.

• Q: Can you put the money directly into my account?

  A: Yes, we offer (and prefer) to make deposits of your rental proceeds via Electric ACH.

• Q: Do I get to see the lease or sign it?

  A: Our Lease is available for review upon request.

• Q: Who pays for the repairs at my rental home?

  A: The homeowner is responsible for all maintenance and repair costs of their rental property, with a few exceptions for certain amenities. Tenants are responsible for damage they cause beyond normal wear and tear, and for consumable items. Our qualified team will review each and every contractor invoice on your property for accuracy and to ensure that charges are distributed correctly.

• Q: Do you sell real estate too?

  A: Yes, our sales team is top notch and leading in the Palm Coast and Central Florida regions. We assist our clients with selling their investment property when the time comes or purchasing additional home to add to their portfolios. Oftentimes the Resident will even purchase, making it a win-win for everyone. Contact Alina Pekarsky today for further assistance.

• Q: How and when do I get my checks?

  A: Rent proceeds are typically electronically deposited two times a month. Once between the 10th and 15th and the second at the end of the month. This transaction is sometimes available same day or next, depending on your banking institution.

• Q: How is rent collection handled?

  A: Rent is due on the 1st of each month and is considered late after the 5th. If rent has not been paid as of the 6th, our office physically posts a Three Day Notice of Non Payment to the property. The resident then has 3 days to make the payment (while still being liable for lease breaking penalties). If the payment hasn't been made, nor possession of the property surrendered, our office will typically then turn the Resident over to our attorney to begin the eviction process.

• Q: How long of a lease do you sign?

  A: Our Leases are typically 12 months. If the initial lease term goes well and our walkthroughs have given indication that the Resident is taking proper care of the property, we will typically offer a 12 month lease renewal 60 days prior to the Lease term ending. Of course, the rent rate and lease renewal details are all communicated with the homeowner ahead of the offer being made to the Resident. We generally do not do anything longer than a 12 month lease to begin with, in an effort to ensure the Resident will be a good fit with our company and the home before extending for any longer period of time.

• Q: How much security deposit do you charge the tenant?

  A: We charge security deposit that is the same amount as one month’s rent based on a perfect credit. If credit is less than perfect then we charge 2 month or more rent as security deposit. With exception of the Lease terms for carpet cleaning (if applicable) and home cleaning, it is fully refundable, provided the Resident performs all move out requirements and there is no damage or past due balances.

• Q: How soon can you start managing my property?

  A: With very few exceptions, we can typically have your property officially under our management (and marketed, if applicable) within 1 business days of receiving the signed Management Agreement paperwork and applicable funds. Prior to the Management Agreement paperwork being drafted, we would need to have your New Property Information Forms completed and a site visit conducted. That process can typically be done within 1 or 2 business days, if expedited on your end.

• Q: What type of properties do you manage?

  A: We manage Single Family Homes, Townhomes, Condos, and Duplexes, Vacation Rentals, as well as commercial properties as well.

• Q: What type of reports do I get and how often?

  A: We send a monthly statement when rent proceeds are deposited between the 10th and 15th of each month, as well as, the end of the month as well if funds are transferred to your account then. Upon request, we are happy to provide copies of Interior and Exterior Inspection Reports as well.

• Q: Who holds the tenant security deposit?

  A: Virtual Homes Realty LLC, holds and disperses the security deposit. We also handle the security deposit accounting as part of our normal duties. These funds are held in our non-interest bearing escrow account in a banking institution.