Question 1

What if the rent isn't paid on time?

Accepted Answer

The  best way to ensure the rent is always paid on time is to lease the  property to a responsible tenant. This means properly screening  potential tenants during the application process. Obviously it's  impossible to predict the future but Property Management Advisors has  worked with thousands of tenants over the years and our experience  shows.   In the event  that the rent is paid late, Property Management Advisors guarantees  your payment will not be affected. Regardless of whether or not the  tenant pays on time we will advance your disbursement at the same time  every month.

Question 2

How will you know if the tenants are responsible?

Accepted Answer

Our  years of experience with both good and the bad tenants allow us to  easily notice the signs of a quality tenant. We'll take note of these  nuances during the application process and use it to assess potential  tenants alongside their rental history, employment status, and credit  check.

Question 3

Will my house be taken care of?

Accepted Answer

We  understand the anxieties owners may feel when renting their property out  to strangers, and we'll do our best to put your mind at ease by keeping  you constantly informed. We conduct at least two seasonal inspections  per year (sometimes more if there is a need) and pass along our  evaluations to you. If anything is amiss we'll document it thoroughly  and consult you before deciding on a solution.   Rest  assured that whenever the slightest thing out of the ordinary occurs,  whether it's property damage or a late rent check, we will contact you  promptly and keep you updated until everything returns to normal. At  Property Managements Advisors we stay in constant contact with our  landlords.

Question 4

Are you licensed?

Accepted Answer

Currently there are no  property management-related licensing requirements in the Commonwealth  of Virginia.  A business license is required.   Real Estate brokerage  (marketing, discussing, negotiating, lease drafting, consulting)  licensing is required, if applicable.

Question 5

Can I reach you after hours?

Accepted Answer

PMA maintains normal office hours, in addition to emergency hours 24 hours a day.

Question 6

Do I need a special Insurance Policy?

Accepted Answer

Owners who convert their homes to rental must check with their current homeowner's insurance company for any added requirements or premium updates. It's imperative that Owners are properly covered for liability and personal property. Can you put the money directly into my account? PMA requires that tenant/residents pay their rent into our portal by the 1st day of the month. PMA's goal is to deposit the Owner's disbursement between 5 and 7 days after rent is paid.

Question 7

Do I get to see the lease or sign it?

Accepted Answer

It is important for Owners to be aware of the lease terms, in addition to the myriad addenda, if applicable. After all, there are promises made by each party that must be fulfilled. Both Landlords and Tenant/Residents initial and sign all documents. When this obligation is complete the lease is considered ratified.

Question 8

Do you sell real estate too?

Accepted Answer

Randy Huntley is a licensed real estate Broker in Virginia, associated with KW Metro Center, and is able to assist buyers and sellers with their real estate-related plans.

Question 9

How is my property marketed for rental?

Accepted Answer

Randy takes the marketing of rental property very seriously by placing it on the Bright multiple listing service, in addtion to including it on Zillow, Realtor.com, Military By Owner, Rentpad, KW.com, and many other rental-related sites.   If possible and permitted, Randy will have a post sign installed and will provide professional-caliber photos in order to position the property in the best light.

Question 10

How often will you inspect my property?

Accepted Answer

PMA will inspect the property at the beginning of the lease term employing a state-of-the-art Initial Narrated Walk Through Video series in addition to providing the tenants a customized PCR (Property Condition Report).  These promote accountability among the principals from the very beginning. PMA will perform occasional drive bys and also will schedule in-person periodic property reviews, as needed. Toward the end of the lease term PMA will schedule a comparison video walk through with the tenant/resident and a consultation review describing move-out procedures and standards.

Question 11

How will I be informed about repairs made to my property?

Accepted Answer

Problems occur -- some are minor such as drips, or leaks, and yet, some seem insurmountable such as storm damage or flooding.   PMA will begin repair protocol on the minor issues and alert the owner, while during major ones PMA will alert the Owners first before taking action.   Please know, however, that PMA will exercise ALL due diligence to protect the tenants first, then closely followed by the house.   PMA maintains close, professional relationships with vendors who can handle the minor issues in addition to taking care of the major ones.

Question 12

How and when do I get my checks?

Accepted Answer

Paid rent becomes Owner's property.  It is PMA's intent to transfer those funds into the Owner's account soon after the rent payment clears the bank.

Question 13

How is rent collection handled?

Accepted Answer

PMA employs a state-of-the-art portal system for Tenant/Residents to pay.

Question 14

How long of a lease do you sign?

Accepted Answer

Depending on the Owner's and Tenant/Resident's requirements leases are usually one year in length, but they can vary from short-term to multi-year lease periods.

Question 15

How much security deposit do you charge the tenant?

Accepted Answer

Usually Tenant/Residents are charged the equivalent of one month's rent as a security deposit.   In some extreme cases an increased amount is required.   Pet owners can expect additional 'pet' deposit in addition to 'pet rent'.

Question 16

How soon can you start managing my property?

Accepted Answer

PMA is equipped to begin as soon as the Owner wishes. We follow protocol that includes lease consultation, HOA/CONDO ASSOC coordination, utilities, insurance, parking and elevator requirements, fees, management agreement, and many other considerations, when applicable.

Question 17

What type of properties do you manage?

Accepted Answer

PMA manages individually owned units that include detached homes, townhomes, condo units (not apartments, buildings, or commercial).

Question 18

What type of reports do I get and how often?

Accepted Answer

PMA will provide monthly statements in addition to annual balance sheets and 1099 Miscellaneous income forms for your tax preparer.  Our PMA Chief Financial Officer is always available to consult.

Question 19

What type of reports do I get and how often?

Accepted Answer

Who holds the tenant security deposit? Security deposit is the Tenant/Resident's property. PMA maintains a separate trust account for this money and will return it as long as the terms of the lease are satisfied. Special note -- 'FEES' are considered SPENT funds; 'DEPOSITS' are REFUNDABLE, depending on particular terms.

703.457.6533, ext. 0 8133 Leesburg Pike, Suite 800 Vienna, VA 22182

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