Current Owner FAQ's
Answers to your common questions
When will I receive the rent?
We process all of our owner statements on or before the 10th of each month. The processing date may be a day or two earlier or later depending on weekends and holidays. Since we pay via direct deposit (ACH) into your bank account, it will usually take 1-3 days for the monies to actually appear in your bank account. This is due to your institution’s policy on releasing funds to their clients.
Do I have to allow pets in my rental property?
No, you do not have to allow pets in your property. But please remember that over 60% of individuals or families do have a pet. Therefore, if you choose to not allow pet(s), you are immediately eliminating over half of the potential residents for your home. If you choose not to allow pets in your property, you can expect a longer vacancy period. Please remember most pet owners take very good care of their pets and are very responsible.
If I allow pets, can they be kept outside only?
We can make all the request we wish but obviously, there is no way to monitor or enforce this. We cannot be at the property 24 hours a day. Our recommendation is that if you allow pets, assume they will be inside the property.
Do I have to allow service animals in my rental property?
If an applicant has a service animal and can provide proof of the need for a service animal, the animal is not a pet by federal law and it must be allowed, again per federal law. We require a pet application for all tenants who wish to have a pet. The application requires a number of items. A service animal also needs to meet the requirements.
What if my tenant does not pay rent on time?
Rents are due on the first and late on the third day of the month. The third day has to be a business day. If not the next business day is the day rent is due. If the tenant doesn’t pay by 5:00 p.m. on the forth, the “3-Day Notice to Pay or Quit” is personally delivered and posted on the fifth. This is the start of the eviction process. This letter is usually enough to encourage most tenants to pay, but if not, we then continue to move forward with the eviction process. We have not been to court in over 5 years to evict a tenant we have placed in a home
How long does an eviction take?
We carefully track who has not paid rent each month, by generating a report daily during the first 3 days of the month. Unfortunately, an eviction for simple non-payment of rent is not an easy process in California. In most cases it will take between 30 and 45 days in Sacramento and El Dorado Counties. Sorry to say but we are at the mercy of the courts calendar and case load.
What if my tenant contacts me directly?
This should never happen but with the Internet, it has happened. If this were to happen, simply refer the tenant back to us and we will work with the tenant to address any concerns and make sure it will not happen again.
I am receiving HOA violations for my rental house, is the tenant trashing my house? Who is going to pay the fine?
In almost all cases, the answer to this is “no.” There are all types of HOA’s and there restrictions range from just a courtesy notice to an outright fine. The four most common HOA violations are lawn care, trash cans, items on the door or front yard and parking restrictions. Plus, some HOAs are very tight on the requirements. So more times than not, it is a minor infraction that is being cited by the HOA. All fines which are the cause of the tenant are the tenant’s responsibly of the tenant to pay in a timely matter.
My house is currently vacant, are we receiving inquiries and showing?
When a property is vacant, we closely monitor the level of activity we are receiving in terms of phone calls, emails and showings. We are marketing the property on over 30 different website so most of our inquiries will be occurring in the first few weeks. If the volume of inquiries is low we may need to make an adjustment to the rental rate or we have recommendations to share with you, we will contact you to update you and have a conversation.
What if my tenant moves out and causes more damage than the security deposit will cover?
If this happens, we will be in touch with you to discuss your options. The first order of business will be to return the property to rent-ready condition. The next step will be to decide to go to court and obtain a judgment or take the tenant straight to collections. Typically, our recommendation is the latter.
Taxes, Taxes, Taxes, do you sent me a 1099?
We will mail you a 1099 to you each year by the end, by the end of January of the next year. You will also receive a 12 month Cash Flow Statement which you can share with you tax advisor.
I have not seen my property in a couple of years. How do I schedule a visit?
It would be our pleasure to coordinate your request. But please remember we need to give the tenants at least 24 hours written notice and we need a few days to handle the request. The more notice the better.
How do we handle the transfer of Utilities?
We can assist in this. Please leave all utilities on in your name until the tenant moves in. We confirm the utilities have been transfer into the tenants name before they receive keys. At move out we transfer everything to KTB Property Management and we handle it from there.