FAQ's
Frequently Asked Questions
Allowing a third party to manage your investment property may create some anxiety and questions.
Here are some questions that are frequently asked of us by new clients. If you have questions that are not addressed below, please feel free to contact us.
Below is a list of Frequently Asked Q&A's
Do I need to pay for the marketing of my property?
Who does the actual marketing of my property?
Does it cost anything to put my property up for lease?
What do I need to do to prepare a property to be rented?
Who pays for repairs and maintenance during the tenant’s stay?
Who determines the rental amount?
Info for RE Brokers and Professionals
What are your fees?
To see a list of our typical fees, please click on the property type that corresponds with your property on our website. However, generally there are two fees we charge owners- fees for leasing and fees for management. You can hire us for either or both. The leasing fee is a fee that is charged to screen and place a new tenant and is charged every time a new tenant is placed. The other fee that is charged is a management fee. This is the fee to handle the management of the property- everything from move-ins to move-outs and everything in between such as repairs, maintenance, inspections, collection of rents, paying bills, complaints and emergencies. Some fees are paid directly to Umano by the tenant such as lockout fees, violations, etc. per the terms of the lease. Unlike other property management companies, we don’t charge a fee unless the tenant pays- so we don’t get paid unless you get paid!
Do I need to pay for the marketing of my property?
There is no cost to the owner for the marketing of the property. We pay for signage, flyers, online ads, and various other marketing services. We typically do not put the properties on the MLS, since very few real estate agents have renters, and few properties are advertised for rent there.
Who does the actual marketing of my property?
Umano Property Management or one of our affiliates will be the responsible broker for the marketing of your property. Your property will receive professional tools and marketing expertise.
Does it cost anything to put my property up for lease?
No.
We are paid a percentage of the monthly lease payment once we have secured a tenant.
What do I need to do to prepare a property to be rented?
Tenants expect all major systems to be operating condition, all health and safety issues to be addressed, and the property to be ‘move-in’ ready. This may include painting, carpet cleaning, interior cleaning and minor repairs.
Who pays for repairs and maintenance during the tenant’s stay?
The owner is responsible to pay any costs for repairs or maintenance related to the property. We typically will hold back an agreed upon amount for repairs and maintenance to ensure the property is up kept and items are fixed within a timely manner. Any charge above upon that amount would need to be approved by you as owner. We will typically obtain multiple bids from contractors, or leverage our volume discount with our vendors, to ensure you are getting a fair price for any work that needs to be done.
Who determines the rental amount?
We will recommend an asking price for your property, based off our rental analysis, real estate experience and other circumstances such as amenities and time of year to determine a price. Ultimately though, the rental market itself decides the monthly rent with the interest and offers from prospective tenants.
How are the tenants selected?
We pride ourselves in our tenant screening process. Our search for the most qualified tenant begins with the initial tenant phone call or walk-in from our marketing efforts. We will not send a tenant to your property who has not been through a pre-screening process. This will determine if they meet the lease requirements of the prescreening before even applying for the property. If they have viewed the property, the next step is filling out our detailed rental application. We use a third party vendor to do the screening though they do follow our strict criteria we have set for tenants. All important factors are verified such as income, employment, credit worthiness and past landlords, and criminal check. By following these steps we can obtain the best-qualified tenant for your property, and thereby minimize your risk.
Info for RE Brokers and Professionals
Real estate brokers referring a tenant to Umano will receive a referral fee upon tenant move-in. This is done in three easy steps:
1. Show the property
2. Direct the prospective tenant to the Rental Application
3. Mail or Fax Form 40 Commission Disbursement to Umano
Brokers also receive a referral fee for referral of owners who contract with Umano for property management services.
If you are a property manager who is ready to work less, Umano can to buy your business! We can purchase either part or all of your book of business and will work with you to create a mutually beneficial plan.