Owner FAQs
Thinking About Renting Your Property?
FIND ANSWERS TO OUR MOST FREQUENTLY ASKED QUESTIONS
Management
Do you offer short term leases or do AirBnb? No we do not currently offer short term leases or do AirBnb rentals. There are several great companies in Augusta that do and we would be happy to refer them to you!
What happens if my residents do not pay rent? While most residents pay on time sometimes life gets in the way.CarMel Property Group makes every effort to collect rent on time each month by proactively reaching out to the delinquent residents multiple times each month. If your residents have not paid by the 11th day of the month, CarMel Property Group will begin the eviction process.
What type of statements will I receive? Each month you will receive an Owner’s Statement, which will have a full reporting of each transaction that occurred for the last 30 days. You will also have access to an Owner’s Portal which will allow you to access information and additional reports about your property at any time throughout the month.
Are your fees negotiable? To provide the best and most consistent service for our owners our fees are not negotiable. In order to provide the level of quality service that we do we must ensure we are consisent and consise with all investors.
How do you handle evictions? CarMel Property Group will handle every part of the eviction process for you. We work with our local attorney to assist us with representation in court and ensure compliance with the most current eviction laws.
What will I have to give my accountant at the end of the year? CarMel Property Group will send you both an electronic and physical 1099 at the end of the year reporting the income received during the year. You may use your Owner’s Portal to pull additional statements that your accountant may request as well.
Leasing
How soon will you list my house for rent? Your property will only be listed for rent when vacant and our safety and functionality inspection has been completed. We will then take professional marketing photos to use in our listings.
Do I get to set the rent amount? CarMel Property Group utilizes market analysis tools and reviews what similar properties are renting for in the same area. We take into consideration the amount the owner desires and price the property based on these factors.
Do I get to approve the applicants? To remain compliant with fair housing, State, and Federal regulations, our leasing team will review, approve, and sign all leases.
How soon will my house get rented? Our job is to get your property rented as soon as possible to a qualified applicant. Our leasing team will actively review prices and feedback trying to rent your property quickly. Most houses are rented within 3 weeks of being listed for rent depending on the time of year.
What is your resident screening process? We do full background checks on all prospective residents. Residents must have a minimum credit rating of 575, have no open collections, and must provide proof of net income of three times the monthly rent. Those that have filed bankruptcy or had a foreclosure or eviction in the last seven years do not qualify.
What happens when my resident decides to move out? Once your resident decides to move out, your Portfolio Manager will reach out to you to discuss move out dates and wether or not you would like to continue to lease your property. Once the resident vacates we will perform the move out inspection and return any portion of the security deposit the resident is entitled to. After presenting you an estimate of the work needed for your property, we will then handle the project of getting your property ready to rent again.
Maintenance
What updates are required before listing my home for rent? Each property is different and unique in its own way. What is most important to CarMel Property Group is being able to provide a clean, safe, and functional property. We will perform a safety and functionality inspection on each home before listing it for rent and will fix any major deficiencies related to safety or functionality. Our motto is the quality of your property helps determines the quality of your resident!
Will you work with my home warranty company? To ensure consistency and quality of service, we do not work with any Home Warranty companies for any repairs to a home.
Can I perform my own maintenance? CarMel Property Group does not allow its owners to perform their own maintenance. For work orders we use vendors, from our vetted network of preferred vendors. Your Portfolio Manager will communicate with you any extensive repairs that are needed ahead of repairs being made.
What are property reserves? A property reserve is your money held in escrow to allow us to perform routine minor maintenance throughout the month after we have dispersed your owner draw for the month. Upon termination of management, your property reserves will be dispersed to you on your final owner draw.