Management FAQs

• What are your fees?

  The tenant procurement fee is 50% of the first full month's rent, for every occupied month that follows the management fee is $ 150.00. The lease renewal fee is $ 100.00.

• How long will it take to rent my property?

  It depends on the home’s condition, how much you want in rent, and what the local market will support. We place a tenant on average well below 30 days, in many cases we can have a tenant within a week or two. As stated previously this depends on the condition and rental price but the time of year and the demand for the area must be taken into consideration as well. For example, on average, homes rent very quickly in the summer when compared to fall/ winter.

• How do you determine a rental rate for our property?

  Our agents have been in property management over two decade so we know the market. Between using our local data, general knowledge of your neighborhood, previous properties that rented in the area, and the specs/condition of your house, we can determine the right rental rate.

• How will my property be shown?

  Unlike other management companies that give prospects the lockbox codes or keys for a self tour, your property will only be shown to pre-qualified prospects by a licensed real estate agent. Valiant will never subscribe to the self tour movement that a lot of companies are now using almost exclusively. Allowing prospects (essentially strangers at this point) to tour a property without an agent being present is not our style. While our concern is with the property itself with self showings nothing can replace meeting with and having a face to face interaction with prospective tenants.

• How do I know you’ll find a qualified tenant?

  We will run a credit report, conduct background screenings, review employment history, and check local and national sexual offender databases. This is a very important part of the process and determines much of what transpires during a tenancy. To Valiant, this is crucial aspect to our success. If a prospect passes our screening you will be notified immediately.

• How do I get paid each month?

  Tenants are required to pay rent on the 1st of the month. They are given few days grace period per the lease agreement. Once we receive the rent an owner can expect to be paid within the first two weeks of the month. We can accommodate most all requests for payment and some of our owners receive physical checks monthly with the majority being paid via ACH.

• How do you keep maintenance cost under control?

  We have a list of licensed & insured companies that we have used for many years including electricians, plumbers, general contractors, handymen and a list of specialized vendors that are qualified to handle any issue that may arise at the home. We do not mark up anything and neither do our vendors so you receive the best work at the best price, if any issues occur. Our vendors provide us savings and we can pass those along to our owners as well.

• Will the tenants take good care of my home?

  There is always a risk that a tenant will not treat your home as well as you would. We have systems, including inspections & drive bys, to make sure we are keeping an eye on the property’s condition. Damage past normal wear & tear are not typical.

• Tell me about inspections.

  Our job is to make sure that you get the best service possible for the most reasonable price. You pay a fee for us to be there when the phone rings and know how best to handle the issues at hand. Valiant coordinates all efforts to make sure your investment performs well, however we are not the vendor that does repairs on your home. As an example; we do not do plumbing, so we hire the best plumber we can find at a reasonable price. And we do the same for inspections. The price for each inspection is $ 150.00 per report and we recommend at least one every six months/biannually. The tenant pays for the move in report and, if necessary, the move out report. Should you choose to have them more often, we can certainly make that change to your account. All inspections will be uploaded and available to access any time in your owner portal.

  These inspections provide greater protection for both the brokerage and the owner.

  Here's a few reasons why:

  • Both the owner and the property manager are considered biased sources of information by many judges and juries. So when a dispute is brought to court by a tenant over a security deposit deduction or damage charge that they incurred, an inspection conducted by the landlord or property manager is regarded with suspicious. This is true even when photo or video evidence is provided, in some cases. By having a third party inspection vendor conduct the inspection, the credibility of the inspection is much improved in the eyes of a court.
  • Tenants are much less likely to challenge the findings of a third party inspector. They understand intuitively that they have a much harder burden of proof in this circumstance.
  • The inspection vendor carries smoke detectors, batteries, HVAC filters, and other supplies in their truck to be able to make sure these items are installed and current at your home during the inspection.
  • The level of detail delivered on the report far exceeds anything that we could provide without their expertise, equipment, and inspection software.

  
  
  

  Some items addressed at each inspection:

  A/C filter check and size documentation

  Property Code (ie. Door locks, door viewers, smoke alarms)

  Smoke Alarm Testing

  Insurance Risks (Trampoline, baby pool, etc)

  Unauthorized Pets

  Illegal Activity

  Deferred Maintenance Issues

  The report consists of:

  3rd Party Unbiased Documentation

  80-120 photos with comments about the home

  25-50 pages of documentation

  PDF Format

• Do I need to take care of the lawn?

  Tenants typically handle all lawn care and maintenance. Depending on the situation though we may advise it be included with rent. As lawn repair/ replacement are some of the most avoidable expenses having more involvement with it may prove beneficial. Another considerable option would be maintaining an exterior fertilizing/ pest service for the lawn.

• Do I have to continue to have homeowners insurance or will the tenant be responsible for insurance?

  Yes, you should maintain a landlord policy on the property. Contact your insurance agent and let them know you're renting the house and make sure you are protected. Tenants will have Renter's insurance.

• I have used a property management company before and I was unhappy with the services they provided what makes Valiant different?

  This is the most common question we see and frankly it is what sets us apart.
  
  Real estate sales agents have flooded the property management field for the last several years. Most of these agents are looking to supplement their income and they simply are not equipped to manage properties. Many prospective clients tell us about their previous experience with these agents. This has created a burden of proof on us. We welcome this as we are very committed, experienced and confident in our ability to manage your property.
  
  For Valiant: It is extremely important that we always have open lines of communication with our owners and tenants. If an owner or a tenant contacts us they will receive a return call, text or email within a few hours, if not a few minutes.
  
  Property management issues arise at a moment’s notice and those issues need to be addressed quickly. Our response time ensures maintenance issues and repairs do not do more damage than they should or become more expensive. This also keeps everyone happy.
  
  Most of the owners Valiant works with who have used other management companies in the past tell us how disappointed they were with the level of communication provided to them. Quite quickly these same owners comment on our accessibility and communication.
  
  Fix an item quickly, attend to an owner or tenant’s needs correctly the first time and property management becomes a successful endeavor.

• What is your termination fee or cancellation clause?

  Most companies have a termination fee or cancellation clause. These can be several hundred dollars, a full month’s rent or higher and will remain in effect throughout the management of the property. Valiant has no termination or exit fees.

• Are there any costs to get started?

  None. There are no upfront fees or out of pocket expenses.

• Why should I add my property management company as “Additional Insured" to my Landlord Insurance Policy?

  First and foremost, this is a very common request in the industry and is usually at very little to no cost to you. Contact your insurance provider for details.
  
  One of the major benefits to using a property manager is to help reduce a landlord's risk of owning a rental property. To maximize this benefit and to further reduce a landlord's risk of liability, landlords should add their property manager as "Additional Insured" to their insurance policy.

• Why is adding the property manager as “Additional Insured” important to the landlord?

  In the event of a claim such as personal injury, the property manager and the owner are often the target. However, most reputable property managers include an indemnification and hold harmless clause as part of their management agreement. In the worst of cases, in the event major litigation takes place, having the property manager listed as “Additional Insured” creates a unified defense, with one insurance company defending both parties, streamlining the defense and significantly reducing legal expenses for all parties, for which the owner is ultimately responsible.

• Why is adding the property manager as “Additional Insured” important to the property manager?

  Most reputable property management companies carry general liability and errors and omissions insurance which offers protection against mistakes or wrongful acts made by the management company. However, these policies do not provide protection against matters involving the property itself, which leaves the manager exposed to claims of personal injury related to fire, leaks, burglary, etc. Without an Additional Insured endorsement, the management company would be required to defend itself, and then seek reimbursement from the owner, which is ultimately more costly for all parties involved.

• What if my insurance company will not add my management company to my policy?

  Some insurers may not add PMs to a policy. This is uncommon but on the off chance that your insurance company will not add the management company to your policy, Survestor has a General Liability option that many of our Owners utilize. The cost is $ 21.50 per month in addition to the management fee. More information on this policy can be provided upon request.

• Does Valiant carry insurance?

  Yes, we carry insurance.
  

  • General Liability. This covers claims involving bodily injury and property damage resulting from the property manager's operations.
  • Errors and Omissions. This covers claims involving mistakes in your property manager's professional services, and is common coverage for those involved in real estate transactions. .

• Will you use my preferred vendors ?

  We will make every effort to use your preferred vendors. Because we need to ensure our vendors are licensed and properly insured, they will be required to complete our vendor packet.