Landlord & Tenant FAQ
Landlord FAQ
We charge 10% of the contractual rent between you and your tenant plus the first month’s rent.
A management fee is a retainer fee for the following services we provide:
- Collection of Rent
- Handling Repairs and Service Requests on the Property
- Miscellaneous Administrative Work with Regards to Tenants
- Issuing of Notices and Delinquencies
- Arranging for Rent Court Filing, Warrants and Eviction Notifications
- A Thorough Property Walk-Through Before and After Tenant Placement
If you prefer to hire your own contractor, we can bypass all repair calls sent to you directly. Either you or your contractor will schedule repairs directly with the tenant.
No, if the property is vacant, we will not charge you a dime in management fees. We stand by our abilities 100% and if your property is not rented, we are not working hard enough. If you’re not making money, we’re not making money. Period.
Yes, management fees are not contingent on tenants paying their rent. On occasion, tenants may be late paying their rent. However, they eventually will pay. So, any balance on your account will be satisfied prior to remitting the remaining to your account.
Rents are wired via ACH or hard checks, which are mailed around the 10th of every month, provided that rents were received. Both methods of payment become available to you by the 12th of the month.
Yes, we charge you and your tenant for Rent Court Filing. Ultimately, tenants pay court filing charges which are passed on to your account. In the event they are evicted, their deposit is transferred to your account.
Yes, we can handle major repairs and complete renovation projects on a turn-key basis.
We generally instruct occupants to pay their bills online. You are able to go online to see if those bills are paid. We cannot monitor those situations, however. You may bring it to our attention if the tenant is delinquent on their bill. At that time, we will invoice the tenant their outstanding bills.
Security Deposits are parked in an escrow account with other deposits and are only disbursed after a detailed walk through and payment of outstanding account balances.
No, we do not cover any damages caused by anyone on your property. Please refer to your insurance company for such coverage.
Tenant FAQ
This is the most important aspect of management for rental properties. The application process is processed in-house. In general, we look at an applicant’s history to determine their future residence in our home. An applicant must demonstrate a background of being a good, responsible tenant or homeowner. In addition, credit standards need to be up to par.
We personally talk to past landlords and ask detailed, open-ended questions about the applicant’s past residency. However, if in some case we are unable to communicate, we may request to do a physical check on your present occupancy.
We have direct contact with the Citi credit reporting service. We obtain a credit report to inform us of the applicant’s current and past performance toward their financial obligations. In doing so, we’re able to verify their monthly debt, credit score, and verification of their previous residencies. An applicant must meet established credit standards income qualifications to be a candidate.
We contact your employer to verify length of employment, status, and income. An applicant’s monthly gross income must amount to at least 3 times the monthly rent in order to qualify. We require the two most recent pay stubs.
Emergency situations include break-ins, no A/C or heat, no hot water, or busted water lines. We will prioritize your situation and tend to it either the same or next business day. In case of either of these emergency situations, please take the following precautions prior to contacting us:
- Break-In – Dial 911 to report the break-in.
- Busted Water Line – Turn off main valve to the property or the closest valve located near the leak.
Keys will be provided only to residents named on the lease. Proper ID is required at the time you pick up the key. If you are locked out after office hours, there is a $35.00 fee to arrange to have someone meet you with the key.
While your home is unattended, please keep all doors and windows locked at all times. As the tenant, you are responsible for insuring your personal belongings and contents against fire, theft, water damage, and other casualties. Basta Solutions and the property owner assume no liability/obligation for tenants’ personal belongings. Renter’s insurance is available through most insurance agencies.
Rent is due on the first of every month. After the third of the month a 10% late fee will be charged. Any tenant who has not paid their rent in full will be subject to late fees and court action as outlined in the lease. Rent is to be paid in the form of a personal check, money order or cash. You can also pay your rent online using the tenant portal. The tenant portal will soon become the primary method of rent payment. There is a $75.00 charge for each check returned by the bank for nonpayment. Please be aware that a poor rental payment history may affect your credit rating.
If you do not intend to renew your lease, please notify our office in writing within sixty days of your lease ending. Remember to follow the directions on your security deposit agreement to insure timely release of your security deposit.
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If you couldn’t find the answer you’re looking for, don’t hesitate to reach out directly. Our dedicated support team is here to help with any questions about your tenancy, property amenities, or community policies.