Owner Frequently Asked Questions
How are maintenance emergencies dealt with?
R. A. Thomas Realty property managment has 24/7 general contractors on call and ready to deploy day or night to make emergency repairs at your property. The 24/7 on call service also allow Tenants to notify us day or night should an emergency arise. Emergencies are scheduled immediately and the Owner will be notified at the first possible opportunity.
Do you mark up emergency or maintenance invoices?
Absoultely not! We do not make a profit on home emergencies or maintenance requests. Our contractors give us discounts which are also given to our Clients.
How am I protected if the Tenant damages my property?
A Tenant sercurity deposit will be used to pay for damage done to the property. Should the Tenant leave your property owing more than is covered by the sercurity deposit, they will receive a statement of charges for money that is owed. If the Tenant do not pay, you (the owner) may pursue a lawsuit againt Tenants for damages and the account can be turned over to a collection agency.
How long does it take to get my rent proceeds?
Once Tenants deposit their rent payment into the Trust Fund Account and the funds are cleared, we can begin disbursing funds. Owners will receive their monthly disbursement proceeds via direct deposit and their monthly statements via email on or before the 15th day of each month.
What happens if the Tenant does not pay rent on time?
Rent is due on the 1st day of the month and after the 5th day of the month rent is considered late. If the Tenant fails to pay rent by the 5th of the month, we will take the first step in the eviction process, which is to send to the Tenant a 3 Day Notice to Pay Rent or Vacate. Initiation of this first step in the eviction process is done in-house and there is no additional charge to the Owner.
When will I receive my end statement and 1099 for tax purposes?
End statements and 1099 are mailed out no later than the 31st of January each year.