Frequently Asked Questions
At Silver Oaks Property Management, we understand that property owners often have questions about our services and processes. Below are answers to some of the most frequently asked questions. If you have additional inquiries, feel free to contact us directly.
What types of properties do you manage?
We specialize in managing a variety of properties, including:
- Condo Units: Handling Individual Condo Units, HOA compliance, maintenance, and tenant relations.
- Single-Family Homes: Providing comprehensive management from marketing to maintenance.
- Multi-Family Buildings: Ensuring seamless operations and tenant satisfaction for multi-unit properties.
How do you find and screen tenants for my property?
Our tenant placement process includes:
- Marketing: Professional listings with high-quality photos on major rental platforms.
- Showings: Handling all inquiries and property showings.
- Screening: Conducting thorough background checks, credit verification, rental history, and employment verification to ensure reliable tenants.
What is your tenant screening process?
We perform a comprehensive screening that includes:
- Credit Checks: Assessing financial responsibility.
- Background Checks: Ensuring tenant reliability.
- Employment & Income Verification: Confirming financial stability.
- Rental History Analysis: Evaluating past rental behavior to avoid potential issues.
How do you handle maintenance and repairs?
We manage all maintenance and repairs by:
- Tenant Communication: Receiving and addressing maintenance requests promptly.
- Vendor Coordination: Utilizing our network of trusted contractors to perform necessary repairs efficiently.
- Owner Updates: Keeping you informed about significant maintenance issues and resolutions.
How are rent payments and owner disbursements handled?
Our rent collection and disbursement process includes:
- Rent Collection: Collecting rent from tenants promptly.
- Owner Payments: Disbursing collected rent to owners via direct deposit.
- Financial Reporting: Providing monthly financial statements detailing income and expenses.
What fees do you charge for your services?
Our transparent pricing structure includes:
- Full-Service Management: 8-10% of monthly rent collected.
- Tenant Placement: One month's rent for tenant placement services.
There are no hidden fees; we only get paid when you do.
How soon can you start managing my property?
Once we complete a property assessment and finalize the management agreement, we can begin managing your property immediately.
Who holds the tenant security deposit?
We hold tenant security deposits in a designated escrow account until the lease term concludes and the property inspection is completed unless otherwise agreed to.
How often are property inspections conducted?
We perform periodic inspections to ensure the property is well-maintained and to address any potential issues proactively.
What steps do you take if a tenant needs to be evicted?
Suggest and refer professional legal counsel that specialize in representing landlords in eviction cases.
Can I use my own contractors for maintenance and repairs?
Yes, if you have preferred contractors, we can coordinate with them for maintenance and repairs, provided they meet our licensing and insurance requirements.
How do you determine the rental rate for my property?
We conduct a comprehensive market analysis considering factors such as property condition, location, and current market trends to recommend a competitive rental rate.
What is your process for lease renewals?
As lease terms approach expiration, we:
- Market Analysis: Assess current rental market conditions.
- Tenant Communication: Discuss renewal options with tenants.
- Lease Preparation: Prepare and execute renewal agreements as needed.
How do you handle tenant emergencies?
We provide tenants with a 24/7 emergency contact line to address urgent issues promptly, ensuring tenant safety and property protection.
What do I need to do to prepare my property for rent?
To make your property rent-ready:
- Cleanliness: Ensure the property is thoroughly cleaned.
- Repairs: Address any necessary repairs or maintenance issues.
- Safety Checks: Confirm all safety devices (smoke detectors, carbon monoxide detectors) are functioning properly.
How do you handle tenant complaints or disputes?
We address tenant complaints and disputes promptly and professionally, aiming for amicable resolutions while protecting your interests and adhering to lease agreements.
Are you licensed and insured?
Yes, Silver Oaks Properties is fully licensed and insured in the state of Massachusetts, ensuring professional and compliant property management services.
How do you keep owners informed about their properties?
We provide regular updates through monthly financial statements and are available for communication to discuss any concerns or updates regarding your property.
