1. What determines the rent of my property?

The rent of a property is determined by a comprehensive market competition analysis on the attributes of the home, similar rentals and the area in which the rental is located.

2. What type of fee do you charge and how much is it?

We are a comprehensive property stewardship company and our fee is dependent on the services rendered, the number of properties under stewardship and current promotions. Our standard fee is typically 10% and our management contracts do not contain any hidden fees for the services that a typical property manager would charge for including but not limited to: eviction services, rent collection or fees to manage outside services.

3. How will I be paid? How often will I be paid?

You will receive a monthly owner’s statement detailing the financial activity for your property.  Payments will be remitted on a monthly basis after incomes and expenses have been reconciled, typically around the middle of the month.  Your payment can be in the form of a check or direct deposit.

4. Do I need to do anything to get the property ready for rent?

No, we will take care of light repairs to prepare your property for the market.  Please give us a call to discuss and sign a management agreement and we will do the rest!  Please be prepared to provide all documentation and records to Citadel Property Stewards LLC to operate the property.

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5. Will I have to remain involved after I turn over my property to Citadel Property Stewards LLC for management?

The responsibilities you will have as a valued client is to approve large repairs/purchases and ensure that your property’s reserve fund is replenished per our management agreement.  We will prepare your property for rent and notify you if your reserve fund is below approved limits.

6. How do I know that my investment will be rented in a timely manner?

First and foremost Citadel Property Stewards LLC believes in renting to the right resident to minimize long term vacancy rates.  As a result, identifying the best resident for your property may take some time.  However, our company policy of only being compensated your property is collecting revenue is aligned with procuring qualified residents quickly.  In addition we exhaust all options for advertising through craigslist advertising, other syndicated rental listing websites and when appropriate and approved we will list your property in local newspaper listings.

7. How will you ensure that you screen and select the best possible residents?

At Citadel Property Stewards LLC, we have built a very thorough and proprietary screening process from forty years of experience.  This process, plus our ability to competitively market and price the property, allows us to attract responsible tenants who will take care of your property.  We complete credit report, criminal and reference verifications as part of the screening process.  Another aspect we look closely at when renting a property is whether or not the property is a good fit.  A satisfied resident is more likely to stay for an extended period of time and take care of the house.

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8. How do I know my property will be cared for?

As Property Stewards, we take caring for your property very seriously.  In fact, management is our only priority since we do not sell/buy property as part of our business.  We have implemented company practices to guarantee the highest satisfaction from you as a client.  First, our Property Stewards complete scheduled  inspections of your property to make sure everything is in excellent condition.  For residents who decide to renew their lease, we complete detailed yearly inspections of the property.  Once a property is back in our possession after a resident, Citadel Property Stewards LLC brings your property back to its original condition, a condition that we ourselves would want to live in.  Please notify us immediately if you feel as an investor your property is not being cared for properly.

9. What happens if the tenant does damage to my property?

Citadel Property Stewards LLC is focused on eliminating or limiting any damage to your property through our thorough screening process we perform to identify a responsible resident.  However, if a property is damaged by a resident, funds will be taken out of their security deposit to pay for repairs bring your property to its original condition.   If the damage amount exceeds the security deposit, the remainder will be pursued in small claims court.

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10. What if a tenant doesn’t pay on time?

The first month a tenant does not pay on time, a late fee will be charged.  The second time a late payment is made, a higher late fee is charged.  The third late payment will be grounds for sending the resident a notice to pay or quit and posted on the property door.  This notice will demand the resident to pay all delinquent payments plus any fees for the delinquency up to date within three days or they must vacate the property.

11. What is a reserve fund? What types of repairs is this fund used for?

Each owner who entrusts his/her property to us is required to set aside a certain amount, dependent on the property and expected expenses, in a noninterest bearing bank account, so that when an expenditure arises for your property we can pay for the repair service without bothering you. The account will be a trust account to ensure that your money stays allocated to you. The account reserve will need to be replenished on a monthly basis as funds are depleted. For expenses over a predetermined threshold, we will use the reserve fund and the expense will be noted on your monthly statement. Larger expenses will always need an ok from you the home owner with the threshold amount defined in the management agreement.

12. What if repair cost more than the amount I have in reserve?

If the repair is higher than the reserve amount you will be notified promptly and given the choice to either complete the repair and pay the difference to keep the reserve account current, or choose not to do the repair until a later date.

13. Will I be notified when my property becomes vacant?

Yes, you will be notified that you will stop receiving monthly checks until a new resident is found.  We will keep you informed during the process of preparing the property for rent, showing the property and selecting a resident.

14. Who pays for carpet cleaning?

All our properties will have the carpet cleaned prior to renting to a resident.  As a result, all residents will be required to bring the property back to this original state prior to leaving.  As a practice, Citadel Property Stewards LLC uses specific carpet cleaning vendors and charges the exiting resident.

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