Owner FAQs

Answers to your frequently asked questions

• Does the rent stay the same until a resident moves out?

  Our management is designed to not only manage the day to day activities of your property, but to maximize its cash flow potential. One key to increasing a property owner’s cash-flow and increasing the value of the property is the ability to increase the rents periodically to market rate. Approximately six weeks before the end of each lease period we evaluate the market rent of your property to see how much we should raise the rent to keep it in line with the current market conditions. A lease renewal is presented to the resident with the new rent amount stipulated. Approximately eighty percent of our residents accept the new rental rate and renew the lease. Of those who choose to move, it is rarely because of a rent increase. It has been our experience that the increase is profits owners receive through rent increases over time have more than covered the cost of our management fees. Our team constantly conducts market surveys to maintain the ability to keep pace with current market rent conditions. This not only includes an evaluation of rental amount, but also amenities offered, and other competitive factors.

• How does Bianchi Realty & Property Management qualify prospective residents?

  Bianchi Realty & Property Management uses one of the most comprehensive resident screening services in the nation. This screening program will evaluate the following areas of a prospect resident’s background:

  • Rental records
  • Employment verifications
  • Court evictions
  • Criminal background check-nationwide
  • Retail credit files
  • Rental debt collection records

• How long will it take to qualify an applicant?

  Depending on the level of screening, the process could take as little as 15-20min. or it could take as long as one business day. Our team is trained in techniques to close a deal quickly, even if approval is still pending.

• How long will it take to rent a property?

  There are several factors that influence the rental market, such as location, condition, rental price, demographics and psychographics. Demographics tell us who will rent from us and psychographics tell us why they rent. The demand for affordable housing will only increase over the next few years due to such economic indicators as higher interest rates, less affordable rental housing stock being available to an increasingly large middle income population, specifically due largely to the effect the condo conversion craze has had on supply and demand in our submarket. The ability to find ‘blue chip residents’ will only increase. Typically the time frame to rent a unit should take no more than 30-60 days.

• How will the Bianchi Realty & Property Management market your rental unit?

  Getting your property rented as soon as possible to a qualified resident is one of our highest priorities. Lost rent because of unnecessary vacancies is cash-flow typically never recovered. Therefore, we use many methods of advertising to give your property the widest possible exposure. These include, but are not limited to:

  Yard signs

  One of our Bianchi Realty & Property Management yard signs will be placed on the property (if permitted) between two and four weeks prior to a vacancy, or immediately if your property is just being placed on the rental market with our company. This service is provided at no additional charge to our Leasing Service.

  Voice Mail

  We will provide professional and trained answering services and voice mail to take inquiries about your property. This is more than just someone answering the phone. Our team has received specialized training to help us relate to a caller, identify their rental needs, encourage the caller to schedule an appointment at the property, pre-qualify the caller, and do all this in accordance of Fair Housing Laws. This service is provided at no additional charge to our Leasing Service.

  Internet

  Photos and a full description of your property will be placed on over 100 websites. Prospective renters can access these sites and search by area to find exactly what they want. No Charge for this service.

  Rental spotlight list

  Your property description will be added to our rental list. This list of available or upcoming rentals is updated daily and available free of charge to all who come into our office. This service is provided at no additional charge to our Leasing Service.

  We market to other real estate offices and rental locator services through MLS.

  Your rental information will be shared with other real estate offices looking to locate rentals for their clients. Your property can be shared with rental locator services to attract as much interest as possible, this service is provided at no additional cost. Additional fees may be due to the locator service.

• What does Bianchi Realty & Property Management do when the rental becomes vacant?

  To reduce out of pocket costs to the owner, we promptly conduct a move-out inspection of the rental premises. This allows us to make any appropriate claims against the security deposit for damages made by the resident and then disburse the deposit accordingly. We immediately prepare the property for re-rent. This process is referred to as the “Punch Out”. This typically includes cleaning the carpet, painting the walls, etc. As soon as we are notified the unit will become vacant, we begin advertising for a new resident. This is often the best time to address major repairs, improvements or upgrades to the rental unit if needed.

• What happens if the resident damages the property?

  This is probably the second most frequently asked question by owners. Because of our comprehensive resident screening program, our residents are ones who consistently pay the rent on time and take care of the rental property. In the event the residents do cause damage, they are instructed to repair the damage at their expense. A follow-up inspection by the property manager will determine if the work has been performed properly. If resident caused damages are discovered at the time the resident vacates the premises, a claim is made against the security deposit to cover the damage. This is a legal process that must be followed precisely to allow deduction of a security deposit. If not handled correctly and within the allowed time frame, the entire security deposit can be required to be returned to the resident, regardless of damages.

• What happens if the resident doesn’t pay the rent?

  This is one of the most frequently asked questions by owners and the subject of greatest concern. The answer is that when a resident fails to pay the rent and remains in the rental unit, we begin the process to quickly having the resident removed. Our trained team knows how to file the Florida required legal notices to prepare for an eviction process. We work closely with premier and experienced eviction attorneys to not only make sure you receive fast, excellent service but competitive fees. Once the eviction is completed in the court system, the resident is required to physically move from your property. We coordinate the required performance of the writ of possession by a local sheriff which puts our management company back in possession of the rental unit. Our trained team handles any abandoned property as required by Florida Law. (Left behind property is one of the most costly areas of landlording and where many lawsuits arise if not handled appropriately.) After that we quickly make the rental unit ready to show and lease again. In fact, at the time of the initial filing we would have begun to advertise and find a new resident. The eviction process usually takes three to four weeks, “not months” as many would believe. Of course, it can take months if things are not handled properly. For our clients, an eviction usually costs the owner an initial legal fee of $500.00. However, the more relevant question is…..

• How likely is it that an eviction will occur?

  We screen our residents thoroughly and will personally reimburse up to $1000 if a resident we placed has to be evicted in the initial lease term.

  Although we can never be 100% certain, the superior property management training our staff receives as Certified Property Management Specialists™, coupled with our experience, industry leading management systems and resident screening programs, has actually shown that evictions will be experiences significantly less often than by owners self-managing their property or using other management services who do not provide the services we offer, by the trained team we have.

• What if additional persons move into the rental property?

  This is a common and costly problem rental owners face. To proactively address this issue, this is prohibited in our Lease Agreement. If an unauthorized person moves in, a 7-day notice to cure will be served requiring this person move out or be added to the lease, after completing an application and being approved through our resident screening process, within seven calendar days. Failure to comply can result in the termination of the Lease Agreement.

• What is Bianchi Realty & Property Management Rental Inspection Program?

  In addition to overseeing all maintenance, repairs and handling all resident relations as part of our regular management responsibilities, we can conduct an annual inspection of the visual interior and exterior of a rental property’s property, complete an inspection report and provide a copy of the report to you the owner. Due to the complexity of the inspection the annual inspection is not a part of our normal management services. For a reasonable investment of $125 we gladly perform these very important services. For $100, we offer a Professional Safety Inspection on top of the Property Management Inspection.

• What is your policy on animals?

  Whether or not to accept animals is always the owner’s decision. Some owners allow animals, others do not. A non-refundable $200 security deposit must be paid by the resident in order to have an animal in the rental unit. Where animals are permitted, only small to medium sized, non-violent, common domesticated animals would be considered. Certain breeds of dogs are not accepted because of liability considerations. Farm animals are not permitted. (Due to Fair Housing Laws persons with disabilities will be allowed a therapy pet with out being charged a pet fee.)

  Our pet screening process is so tight we will personally reimburse you up to $1000 to cover extra costs if pet damage above normal wear and tear should occur.

• What kind of liability insurance should a property owner have?

  If you are converting your personal residence to a rental property, you should change your policy from a homeowner’s policy to a landlord’s policy (sometimes called a rental dwelling or dwelling fire policy). If your property is already a rental unit, you probably have the right policy, but please check just to be sure. The limits should be in an amount not less than $100,000 per person and $300,000 per occurrence.

  If your rental property is in a condominium or two home communities, please do not assume that the condo association policy for the community will adequately cover you or your property. “It will not!” You should have your own liability policy (separate from the association’s policy) to make sure that both you and your rental property are adequately protected.

  If you do not know an insurance agent we can recommend local independent insurance agents who will be glad to recommend the appropriate policy for you.

  It is the policy of Bianchi Realty & Property Management that you, the owner, request your insurance company add Bianchi Realty & Property Management as an “additional insured” to your policy. Most companies make this addition at no additional charge. Some companies have a policy against adding coverage for management agents to your policy. In theses cases Bianchi Realty & Property Management reserves the right to charge the owner’s account once each year a nominal insurance charge ($50 for one house) when we are not covered under the owner’s policy as an “additional insured”.

Who is Responsible? Owner or Resident?

• What happens if the Resident damages the property?

  This is probably the second most frequently asked question by owners. Because of our comprehensive resident screening program, our residents are ones who consistently pay the rent on time and take care of the rental property. In the event the residents do cause damage, they are instructed to repair the damage at their expense. A follow-up inspection by the property manager will determine if the work has been performed properly. If resident caused damages are discovered at the time the resident vacates the premises, a claim is made against the security deposit to cover the damage. This is a legal process that must be followed precisely to allow deduction of a security deposit. If not handled correctly and within the allowed time frame, the entire security deposit can be required to be returned to the resident, regardless of damages.

• Who is responsible for the heating/ air conditioning system?

  This is a shared responsibility. The owner is responsible for the major operations of the system when things go wrong that are beyond the control of the resident. However, the resident is responsible for changing the filters regularly and keeping the drain line open. System maintenance or repair resulting form resident abuse, misuse or neglect is the responsibility of the resident. To help our residents better understand the level of preventive maintenance we explain what they need to do. These responsibilities are also spelled out in our Lease Agreement.

• Who is responsible for plumbing repairs?

  Once again, this is a shared responsibility. Owners are responsible for circumstances beyond the resident’s control, i.e. water heater failure, tree roots in the sewer line or worn out fixtures. However, the resident is responsible for clogged toilets or drains: toilet seats, flappers, and handles: jammed garbage disposals: and any problem resulting from abuse, misuse or neglect. If the premise has a septic tank system, owners are customarily responsible for septic tank pump-outs, sump pump failure and clogged drain fields.

• Who is responsible for windows and screens?

  The owner is responsible through the property manager to ensure that these are in good condition when the resident takes possession. After that, the resident is responsible for the repair or replacement of broken glass or damage screens, including screen doors and sliding doors. One exception would be if damage occurred because of a natural disaster such as a major storm.

• Who is responsible for pest control?

  Our Lease Agreement makes this a resident responsibility for single family homes and duplexes, except for problems beyond the resident’s control, i.e. termites, carpenter ants, pharaoh ants and rodents. Florida Statutes stipulate that for multi-family buildings larger than a duplex, pest control must be an owner’s responsibility. We highly recommend our Pest Control Vendor.

• Who takes care of the yard?

  Our single-family Lease Agreement makes this a resident responsibility and requires the resident to maintain the yard and shrubs in the same condition the yard was in during move-in, unless the owner chooses to provide complete lawn care for the property. We highly recommend our lawn care providers.

  • Many owners now provide chemical lawn service: a quarterly fertilization, weed control, and insect control treatment.
  • Hazardous work such as tree trimming is an owner’s responsibility and is arranged and scheduled by or property manager. The cost of this service would be the responsibility of the owner and pre-approved by the owner.

• Who is responsible for swimming pool service?

  It has been our experience that it is best for this service to be provided by the owner to make sure that the pool is maintained properly. Owners can leave weekly pool services, or owners can choose to have resident be responsible. We highly recommend our Pool service providers.