Frequently Asked Questions
1. What are the property management fees? Hidden fees?
The average is 8-10% depending on rent collected. We use a scale system.
2. What if a tenant stops paying rent?
We have ZERO Tolerance for late rent. Rent is due on the 1st and it is late on the 2nd. Late fees begin on the second day. 3 day notice to follow.
3.What is a non-contested eviction?
This is an eviction that is not contested by the property owner or occupants. It occurs when there is no argument against the reason for an eviction. It is the opposite of a contested eviction in which there is some argument being made by the tenant against the reason for eviction.
4.What if something breaks in the unit?
Typically if the item that is broken costs less to repair that $100 then it is the tenant’s responsibility but if it costs more than $100 and the tenant did not cause the damage then it is the landlord’s responsibility to pay for. In that case we would handle the coordination and completion of repair whether it is an owner vendor or an approved RPM Miami vendor/contractor.
5.What is a free analysis of the property? Is it really free?
The analysis will tell you how much the property should be receiving in rent in comparison to similar properties in the area as well as which aspects of the property should be improved in order to maximize the amount of rent that the property could receive. Yes it is completely FREE, we are so confident that you will be impressed with the high level of service that you receive from us in our analysis that you will want to do business with us.
6.How long is the Property management contract? Any penalties?
No long-term commitment. 1 year renewable each year by both parties. Cancellation in the middle of the contract period is 1 month of rent penalty.
7.What is a quarterly inspection?
This is an inspection that takes place every 3 months in which one of our inspectors visits your property to conduct a thorough inspection of the property. These inspections are highly valuable because they are able to catch small problems before they become big problems. In many cases catching the problem before it gets worse will reduce repair costs significantly.
8.If the tenant pays late, am I charged late fees?
No, the tenant is charged a late fee in addition to being served a 3 day notice of warning at no cost to the owner.
9.Who pays for tenant background check?
Tenant application and background is at NO CHARGE to the owner.
10.What is the criteria to choose tenants?
Based on owners criteria and parameters in place, tenants are selected based on their financial, credit, rental history and criminal history which are the most important factors in determining their ability to pay.
11.Do you charge for marketing?
Your setup fee includes everything to get your property rented, which includes marketing the property on our portal that gets listed on over 200 websites. If the owner chooses to list their property through the MLS, an additional half month rent will be paid to cooperating broker who brings qualified tenant.
12.What if tenant causes major damages to the property?
Tenants are held responsible for all damages that exceed normal wear and tear.
13.How do you guys handle major maintenance issues for big ticket items?
We will get proposals from the various vendors that have been approved through RPM Miami, to be licensed and insured, and present them to you so that you can make an informed decision on which company you would like to contract for the repair items. We will then work with the company to schedule the repair and follow up through successful completion of the repair.
14.What if there is an emergency and you can’t contact me?
In case of an emergency, once all contact attempts to the owner have been exhausted, we will take the necessary steps to protect property and all parties involved. If it is not an emergency, we will allow reasonable time for the owner to respond before we take appropriate actions on behalf of owner.
15.What If I want to sell my property but it s still under management?
It is entirely your right to sell your own property at any time you wish. Although we are licensed to broker a deal on your behalf, you are at will to choose any broker or realtor of your choice without a commitment to RPM Miami. You must keep in mind that any contract or lease in place must be honored or satisfied.
16.Is there a specific number for tenants to call and report issues?
Yes the maintenance hotline is available 24 hours a day 7 days a week at (305) 517-3900.