Real Estate Investor – FAQ
Why use a Property Manager?
Do you ever feel overwhelmed by your responsibilities as a real estate investor? Marketing your property, finding and screening tenants, drafting leases, collecting rent, providing round-the-clock maintenance, and even handling evictions… why should YOU have to do all of this? The simple fact is… YOU SHOULDN’T. The guiding mission of Real Estate Management Advisors is to leave you with a single responsibility – to invest – while we handle advertising, tenant relations, and maintenance throughout the entire investment period.
What is REMA?
Real Estate Management Advisors is a team of qualified property management professionals that work with clients in maximizing their investment portfolios. We provide high quality and professional property management and maintenance services for Philadelphia area. Our goal is to maximize the investment for all of our real estate investors clients.
What type of properties do you manage?
Real Estate Management Advisors specializes in residential and commercial real estate properties in Philadelphia. Whether a condominium, single family home, a multi-complex, a retail center or a corporate building, the REMA team has the ability to meet and exceed any property management needs.
What Property Management experience and credentials do you hold?
The professionals who make up our management team possess a combined total of 100 years’ experience in property management, investment, and accounting.
What property management services does REMA provide?
REMA provides a wide variety of management services, tailored to each client’s needs. From marketing & advertising to tenant screenings to 24/7 maintenance services, our business works with clients to get the most out of their business investment. Visit our Property Management Services page for more details.
What steps do you take to rent my property?
REMA’s experienced marketing team goes the extra mile to market and advertise your property, up until the day it has been occupied. With compelling advertising techniques, we use all efforts to promote your property. “For Rent” signage, Multiple Listings Service, over 25 Internet listing sites, referrals, grassroots campaigning, video showing tours and social media marketing.
What does the tenant screening process consist of?
REMA has a detailed tenant application that is required by each person interested in occupying a client’s property. Processed applications are completed by our management team in-house. Credit Check – Third party credit reporting services are used to provide current and past information on each applicant’s financial obligations. Proof of Income – Verifiable employment (pay stubs, bank statements, etc) or any financial written statements should be presented during the application process. Rental History – Current and previous rental/owner history is established. Pets (if applicable) – Applicants must disclose any pets.
When are rent payments due?
Rents are due on the first day of each month. However, REMA recognizes that many things can happen in regards to rent, and so we allow a 5-day grace period for rents due. We make a serious effort to collect payments and encourage tenants to use one of our three (3) payment options to pay their rents in a timely manner. The rent payment will be considered late without exception if it is not received in the REMA office after the 5-day grace period, on the sixth day of the month.
What happens if a tenant does not pay their rent?
REMA makes an effort to collect payments from tenants each month. If we do not receive rent by the due date, a 3-day eviction notice to pay or quit is prepared and delivered to the tenant. REMA notices the importance of such notices and posts them properly, should legal action be required.
How informed will I be of my property while it is occupied?
Each client has 24-hour access to our online website, where they can find monthly reports for each property we manage for them. Detailed, itemized reports are sent to the client on or before the fifteenth of each month. Reports include all rent collected and any expense receipts for the month.
How do you handle maintenance requests?
Maintenance service requests are available online for both client and tenants to submit. You can also call our office to place a service request and we will get our maintenance team out to your property as soon as possible.
What if I would like to use my own maintenance services?
REMA has a team of qualified and insured maintenance professionals that are reasonably priced and have been used by us for years. If you would like to nominate a service provider, we will contact them and get necessary documentation and references to compare pricing. Our focus is to provide cost-effective maintenance but we do consider our client’s suggestions.
How are my rental collections delivered to me?
On the 15th day of each month, you will receive a check directly deposited (ACH’d) to your bank account.
Are your property management fees negotiable?
We have established our fees within the mindset of minimizing costs to the owner but charging enough to give each property the attention it deserves.
Are there administrative fees or other service charges up and above the property management and leasing fees?
All fees are outlined in our fee schedule, presented to you at the time you begin working with our management team.
How much security deposit do you charge a tenant?
Generally, REMA charges 1 month security, depending on an applicant’s credit history.
How soon can you start managing my property?
The process starts immediately after receiving information about you and your property. Contact Ari Miller via email AriMiller@reinfo411.com or call us today for more information 1-877-REINFO4.
What areas do you manage?
Our property management services are available in the following areas: • Philadelphia: Huntingdon Valley