FREQUENTLY ASKED QUESTIONS
HOW DOES Deep & Sons Realty SCREEN POTENTIAL RENTERS?
Before signing a lease with a prospective resident, we ensure each adult living in the home meets our rental criteria. We screen their credit, criminal, and landlord/tenant history. We abide by Federal Fair Housing Laws and the Virginia Residential Landlord and Tenant Act. We pride ourselves in our track record of attracting residents who are both respectful of your property and financially responsible. We are happy to share a full list of our rental criteria and discuss any questions you might have.
Why Do I need a professional property manager?
Saves you time, work, and stress.
You don’t have to hire someone to clean, paint, or make repairs.
You don’t have to advertise, take rental calls, and show the property.
You don’t have to screen applications and be apprehensive about who to pick.
You don’t have to execute a rental agreement, worry about adding addendums, fill out the move-in inspection report, and deposit money.
You don’t have tenants calling at all hours of the day and night.
You don’t have to confront tenants on tough issues like collecting rent or taking better care of the property.
You don’t have to collect NSF checks.
You don’t have to serve legal notices or start an eviction.
You don’t have to schedule and fill out the move-out inspection report.
You don’t have to mail the tenant’s accounting report and refund check.
You don’t have to start the process all over again.
You don’t have to worry about the property or be shocked by its condition when you hire a Professional Property Manager. We are dedicated to selecting quality tenants and keeping your investment in good repair with minimal cost. We want your real estate investment to be a success not a failure. One last benefit – your leasing and management fees are usually a tax deduction.
DO I HAVE A SAY IN WHO WILL RENT MY PROPERTY?
In order to adhere to Fair Housing Laws, we do not give out applicant information to owners before approval. We follow all laws and zoning regulations to only allow the appropriate number of people to rent a home. And allow leases only to be signed by those who meet our excellent criteria, outlined above.
Do I get to see the lease or sign it?
Yes, we will send the lease out to all parties to sign. We do not sign the lease on your behalf.
Do you sell real estate too?
By combining both real estate sales and property management, we have a good pulse on the trends in our marketplace.
How much security deposit do you charge the tenant?
Generally we collect an amount equal to one month’s rent as the security deposit. Some circumstances may make it necessary to charge an additional amount but that wouldn’t be more than two months of rent in total.
How long of a lease do you sign?
We can do as long as you want. We like to start with a one year lease to make sure the relationship and situation is working for everyone and then we can always do an extension. Many clients, however, will take a 1 year lease from the start.
Who holds the tenant security deposit?
We hold the security deposit in a separate Escrow account. It is illegal to comingle funds and security deposits must be in a separate account – not combined with rents and other revenues.
HOW OFTEN AND IN WHAT WAY ARE PROPERTY INSPECTIONS CONDUCTED?
These are types of inspections that we perform:
Move In Inspection – An inspection is done prior to the resident moving in which details the condition of your property.
Annual inspection – Annually we inspect the exterior and interior of the home to assess any preventative maintenance that might be required.
Move Out Inspection – When the residents have vacated your property we will assess if any damage was caused by the resident and what, if any, normal wear and tear items need to be addressed during the Turnover period. If damage is found, we will impose a claim against the resident’s security deposit.
Smoke Detector/Carbon Monoxide Detector: Every 12 months we certify that these alarms in the home are current, operable, and in required locations. This certification form will be shared with the resident and you.
Additionally, we ask our vendors to be our eyes and ears and let us know if they observe anything amiss.
DOES the RESIDENTS HAVE renter's INSURANCE?
We Recommend and most times require $100,000 of liability insurance coverage from our residents.
Do I have to pay a management fee when my property is vacant?
We do not charge a management fee when we are listing the property or between tenants.
Do you have an early termination fee?
No, we simply require 60 days notice if you decide you want to end your management contract.
Do I need to change my insurance in any way to rent my property?
Yes. First, you should notify your insurance company that you will now be renting out the property and they will work with you to change the policy from an Owner Occupied policy to a Rental Property policy. We require that you carry a minimum of 1 million dollars of liability insurance and add us to your insurance policy as an Additional Insured.
How do I need to leave the property before turning over to you?
You should make sure that everything is working in the property – all systems & appliances. We also ask that you do all the things we require of the tenant before turning it over. You should have the home and all carpeting professionally cleaned, have a professional clean out any fireplaces. We know it’s busy when you are moving away so our team can help get these done if you need.
How are maintenance issues handled?
Our residents have several payment options, including paying online for free or by credit card. This is convenient for our residents and translates to timely rent payments for you. Even with the ease of payment, we do sometimes have residents who run into financial difficulty paying rent. We try to work with resident’s to the best of our ability, but should eviction become necessary we will take the appropriate steps on your behalf, as permitted by law.
CAN I MAKE CHANGES ON THE LEASE FOR MY PROPERTY?
Our lease is a standard Virginia Association of Realtors lease. If you have any special stipulations regarding your property, please let us know so that we can determine the best way to accommodate your request.
WILL I BE ABLE TO USE MY OWN CONTRACTORS TO WORK ON MY HOME?
We can use your vendor as long as they are licensed and carry the proper insurance. This protects you and us. We are always happy to meet new vendors to expand our network.
How are maintenance issues handled?
Tenants are required to put any maintenance requests in writing through their Tenant Portal so we have clear documentation and explanation of the situation. You will receive a notification email to keep you informed but it doesn’t mean our property managers automatically send out a contractor. They will attempt to troubleshoot it first if possible. Any repair over $500 must be approved by you and all vendor bills are paid by us and deducted from your net proceeds for the month.
What happens if the tenant pays late?
First, our team notifies the tenant that the rent is late and we talk with the to find out why or if there was some error. If that isn’t the case, then we send them a notice called a 5 Day Pay or Quit Notice. If this doesn’t produce the rent, then we will notify them that we are pursuing eviction. (We rarely have late paying tenants due to our excellent screening process).
Do you have an early termination fee?
No, we simply require 60 days notice if you decide you want to end your management contract.
What type of reports do I get and how often?
Apart from access to the portal, At the end of the year, we will provide a Year End Statement as well as a 1099 for your taxes.
Can I reach you after hours?
We give 24/7 access for emergencies after hours.
Am I required to make my property available to Section 8?
No, you can choose if you will accept Section 8 applicants but you must be consistent across all your rental properties.
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