Owner FAQs

Owner statements are published monthly to your owner portal where they are kept for your access and reference 24/7

Owner distributions are made between the 10th-15th of each month based on when the weekends fall and if there are any banking holidays, but we will always try to disburse funds as close to the 10th as possible.

Not at all! Our services are transparent and we pride ourselves on prompt communication. We understand that each landlord is different and so are their needs which is why we have developed the flexibility to keep you as involved or uninvolved as you would like to be. 

Thanks to our various tools and vast knowledge of the ever changing market, you can rest assured that we will always stay on top of the current market trends in order to get you the most competitive rate for your property. 

While this is more of a “crystal ball” question, we have a historically low vacancy rate and as long as we are able to offer tenants a property that is well maintained and priced correctly, it is sure to rent quickly! 

We would love the opportunity to discuss the matter of pets with you regarding your specific property, but of course you don’t have to allow pets. We often encourage owners to consider allowing pets because it will open up a larger market pool of qualified tenants. Pets are a separate matter from assistant and service animals and we do comply with all state and federal laws regarding such.

Every applicant will go through the same screening process to ensure that the best possible tenants are placed in your property. This process includes a background check, credit check, as well as verification of employment or income and previous rental history or verification of homeownership. 

We will always make sure that your investment is protected! Tenants will pay a security deposit, ranging from the equivalent of one month's rent up to one and a half months rent as allowed by law. These funds will be collected prior to move in and held in a Trust account for the duration of the tenancy. We do have some security deposit alternatives available to help alleviate the burden of high move-in costs to tenants, but these options still provide you as the landlord the same protections as a traditional security deposit. 

Generally, yes, but this will be specific to how the property is metered. For example, if you have a multiunit property and there is only one meter for water to the entire building but you still wish to have this cost passed along to the tenants, we can help come up with a fair average to bill each tenant that they will pay along with their rent each month to help defray the cost to you.

Yes! Tenant’s will have the option to provide their own renter’s insurance policy which will be required to remain in place for the duration of their tenancy. In the event they do not provide their own policy or they allow the policy to lapse, it will immediately be supplemented by a Liability to Landlord Insurance Policy which will continue to provide protection to you, the landlord, in the event of tenant liable damages to your property. 

While it is rare, it is a part of the business that is unavoidable. Sometimes life happens and no matter how well qualified a tenant may be, a life event may cause them to miss a rent payment. When this happens we will step in right away and communicate with them to see if this is something that will be an ongoing issue or a one-time occurrence. We will also communicate and discuss options for moving forward. If necessary, we will be prepared to file an eviction action with the help of an attorney. 

In another scenario of “life happens”, sometimes tenants move out before their lease expires. Per our lease agreement, the tenant will remain responsible for the lease through the duration or until a new, qualified tenant is procured by our office. Once the new tenant moves in, the past tenant’s lease will be prorated through the day before the new tenant moved in, meaning you don’t lose a day of rent!

We’ve got it covered. Thanks to our 24/7 maintenance line, we are available around the clock to assist tenants with maintenance issues big and small. Typically in an emergency situation that occurs after hours, we will dispatch a vendor to mitigate the damage (such as turning off the water if there is flooding) and assess the cause and solutions bright and early in the morning, which is also when we will wait to call you. 

We can help! Peak Property Solutions is a full service real estate brokerage and is able to handle all of your sales needs in addition to property management. So whether you are selling your property or adding to your portfolio, we can help!