Property Owner FAQs
How do I get started?
Once we have received a signed Property Management Agreement we will add your property to our powerful marketing system. When someone is interested in leasing your home they will be given an application and the background check process will begin.
Our application process involves:
- Credit Check
- Current Employment Verification
- Past Rental History
- Criminal Background Check
If the applicant passes our rigorous screening process we will ask them to sign a lease with us for one year, unless you have instructed us a shorter term is agreeable. A security deposit will be paid at the time of the lease signing. Any applicable pet fees are due at the lease start date. The pet fee will be mailed to you with the first month’s rent proceeds to cover professional carpet cleaning, deodorizing, and flea treatment (if applicable) at the end of the tenant’s lease. Deposits are typically equal to one month’s rent. Non-refundable pet fees are usually $250 per animal with no more than two, unless otherwise agreed upon.
The tenant’s security deposit is held in an escrow account, pursuant Georgia Real Estate Law. At the end of the lease, and per our move out inspection, the security deposit will be reissued to the tenant – minus the cost of any damages to the home beyond normal wear and tear, pet-related damages, etc. The escrow account is managed under STRICT Georgia Real Estate Commission guidelines.
When is rent due and how do you collect it?
- All rent is due by the 1st of the month.
- Rent is considered late on the 5th. (A $50.00 late fee is assessed after the 5th)
- A delinquency statement is mailed out on the 6th to any tenant who has an outstanding balance. Their file may also be turned over to an attorney who will then send a 7-day Notice to Vacate letter, pursuant to Georgia law, which tells the tenant what needs to be done to bring their account back to a current status and avoid eviction.
To avoid bounced checks for late rent, we do not accept personal checks from tenants after the 5th of the month. We strongly encourage all tenants to pay online.
If rent is still unpaid by the 15th, eviction papers will be filed on or about the 20th. You will be contacted before any papers are filed with the courts. A court date will be set approximately one week after the papers are filed. It is NOT necessary for you, the owner, to be present in court. We will take care of the proceedings for you. If eviction is awarded, the tenant will be ordered to vacate the property approximately 10 days from the court date. If the tenant does not vacate at that time, we will file a writ of possession, which will be delivered by the Sheriff’s office. If the tenant does not vacate within 10 days of the writ, we will accompany a Sheriff’s Deputy to the property on the 10th day to remove the tenant from the house and subsequently change the locks.
How much do you charge for security deposits?
Mega Agent Rental Management Georgia LLC typically charges tenants the equivalent of one months rent as a Security Deposit. Each individual owner whose property is management by Mega Agent Rental Management Georgia LLC may require more than one month’s rent as a security deposit, which is at the owner’s discretion. Keep in mind most tenants, even the good
How will I know if my tenant renews their lease?
Approximately 45 days before your tenant’s lease expires, you will be contacted about the renewal of the lease. This is to determine if you still want to rent out your property and/or if you desire any rent increases. With your permission, a lease renewal letter is then mailed out to your tenants. This letter gives them the option to renew for one year, on a month-to-month lease (if you allow), or give their 30-day required notice of move out. If your tenant renews, you will be given a copy of the renewal. If they wish to remain on a month-to-month basis, you will be contacted for approval. If they give notice, you will receive a letter letting you know when they plan to move out.
What happens when my tenant moves out?
When a tenant moves out, whether due to an eviction or lease expiration, a final inspection of the property is made. This inspection will determine if any charges need to be withheld from the tenant’s security deposit. We will determine any necessary turnover repairs and will report to you what, if any, are needed to make the property ready to re-rent quickly. If funds are withheld from the tenant’s deposit, they will be transferred out of our tenant security deposit escrow account into the owner’s rental account to be used toward outstanding bills. If you received a non-refundable pet fee at the beginning of the lease, we will deduct that charge from your rental proceeds to cover costs for carpet cleaning/deodorizing, in accordance with this fee’s designation in the tenant’s lease.
When do I receive my rent check and statements?
Owner statements are mailed out on the 10th & 11th. If the 11th falls on a holiday weekend, we will mail checks out the next possible business day. Any rental proceeds, plus any late fee collected after the 5th, will be mailed to you in a second mailing on or close to the 20th of each month. This includes any pro-rated rent from tenants moving in or out. If your tenant has not paid rent by the 5th, you will still receive your monthly statement, but it will not include any funds at that time. You will not be charged a management fee until rent is received.
Do I still get statements when my property is vacant?
If your property is vacant you will still receive a monthly statement. If applicable, it will include any outstanding bills that cannot be covered by funds in your reserve account. Please send payment for these bills immediately so our vendors can be paid in a timely manner. You will receive copies of all work orders in your monthly statement when the bill is paid.
What other services can I take advantage of?
Mega Agent Rental Management Georgia offers some additional services to help make your financial life a little easier. If you pay homeowners association dues for the property we manage, we can pay them directly for you out of your rental account. All we require is either your HOA coupon book or the necessary account information. Understand, however, that if your tenants pay late it may make payments late. We suggest saving at least one to two months worth of payments to protect against this possibility. This is also a good action for when properties become vacant, the market is slow, or for emergency funds. If you live out of state or out of country, we can also directly deposit your monthly proceeds into your bank account. You will still receive your monthly statements in the mail or you can opt to have statements emailed, but your check will be deposited into the bank account you provide. All that would be needed is a deposit slip and/or mailing address of the bank.
We hope this system will reduce the time it takes to forward your rental proceeds and cut down on any confusion your owner statements may bring. Mega Agent Rental Management Georgia is here to serve you! If you ever have any questions or concerns about your monthly statements or how our accounting process works, please contact us at (678) 549-4194.