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Owner FAQ

Why hire FlaRent Inc?

Our years of experience in maximizing homeowner value. Property management is our principle activity. We have has been in business since 1991 and are locally owned and managed. Our management provides peace of mind to the property owner knowing we operate with their best interest.

Who is FlaRent Inc.?

We are a licensed real estate corporation by the state of Florida. Our founders are licensed Brokers’ in addition each of the principals hold a Community Associated Manager license. In the years of providing service, our staff and company have grown tenfold. FlaRent Inc. operates under the philosophy that service is our only product. Loyalty and responsibility to the property owner and prompt courteous service to the tenants is responsible for our success.

What is the charge to find qualified tenants for my property?

A fee of up to a half of the first full months’ rent or a minimum of $500.00 whichever is greater. Our fee is for a new tenant enables us to provide your full time Property Manager to overseeing the leasing and qualifying of your tenant. We are dedicated to finding the right tenant for your home.

How do you determine fair market value?

We use comparative rental analysis. The results are shared and discussed among our property manager staff and utilized in determining rental values for new and existing rental properties. This results in minimal vacancies while obtaining the highest rents for our clientele.

What type of background checks are used to evaluate an applicant to rent?

All proposed tenants over 18 are screened for credit, criminal, employment and rental history. We use a credit background licensed company for the reports. The rental and employment are followed up by our office staff for further verification. Each applicant must complete a standard and all-encompassing application form either on our site or in our office and must meet our “Credit Criteria” application standard and be within the minimum income requirements. There is no fee to you for this screening applicant pays for this process.

How is my property advertised? Cost?

We utilize both visual, meaning FOR RENT sign on property and electronic meaning internet advertising. We advertise your property using pictures and information on our website. Our contract with our internet company provides our advertising to be applied to most free sites on the internet. Through this type of advertising, we may be contacted directly off any ad by the potential tenant. We find these 2 forms very advantageous for securing a tenant and there is no cost to you. We do suggest for broader coverage an additional internet advertiser which is not included as no charge, as it is a paid site, but provides the property with greater exposure in more areas.

How long will it take to rent my property?

Several factors are involved: the size, location and overall condition of the property, the asking price relative to that of comparable properties in your neighborhood, and the time of year. However, the market time for renting is generally much shorter than the time required selling the same property, and landlords can usually expect to have tenants within 30 to 60 days.

Is there a cancellation contract fee if I change my mind?

The landlord agrees to pay $100.00 as cancellation charge if the contract is canceled before securing a tenant during the first term of the contract. If the landlord terminates this agreement while the tenant(s) are under a current lease secured by FlaRent Inc, a cancellation fee of the uncollected 10% management fee through the end of the anniversary installment will be assessed.

What about allowing pets? Smokers? Children?

Our attorney drawn lease states no smoking on the premises. Pets of any kind are excluded from our lease and may only be added by addendum and additional charge and application background of pet. Families are a protected class we cannot discriminate. We are a fair and professional management company and take pride in our knowledge and practices, abiding by all Federal, State and Local Fair Housing Laws.

What about utilities? Before renting? After renting?

FlaRent Inc., has utility deposits with the major electric company and turn on/off status with all other local utility providers. Before your property is rented we will have the water/sewer and electric turned on. If we must submit a deposit for your property you will be billed for it. If we use our on-file deposit, there will be a minimal service charge. When the property is rented and the utilities are not part of the lease they will be in the tenant(s) name.

What is the company philosophy associated with interaction with the tenant?

We believe that good tenant relations are critical to the smooth management of the property and collection of rent in a timely manner. The enforcement of rules and compliance with the terms of the Lease are also expectations of the tenant, which we handle in a professional and businesslike fashion. We believe that maintaining a good relationship on a “business” level and in a professional manner results in a much more effective atmosphere when dealing with problems or even raising rents rather than a “friendly or social” relationship which may often develop between other landlords and tenants. This leads to difficult and awkward feelings when dealing with rule enforcement or rent related matters.

Will the property be in the same condition as we left it prior to renting it out?

Your property will not be in the exact identical condition as when you left it. There will be a difference due to normal wear and tear. When we live in a home as owner-occupants, we all have a special attachment to the home and it shows in the way we clean, take note of repair items, and maintain the house in general. Although tenants we select are screened very carefully, they may not view the house in the same way as an occupant-owner. They will clean and maintain the house as they are expected to, however, it may not be to the same standards.

How often will you be inspecting my rental?

While the house is vacant, we will check on it every week and/or as we show it to prospective tenants. Once it has been rented, we conduct one complete interior and exterior inspection each year. A complete report is sent to you with any recommendations for repairs or improvements.

How do you handle repair and maintenance items for my rental?

Tenant maintenance guide. Tenants are provided with guidelines on proper maintenance and care of the property and its contents. Tenants are provided with a 24-hour emergency contact in the event repairs or other emergencies are required after-hours. Our management staff has a ready list of repair personnel for immediate dispatching to handle these calls. Licensed and insured. All vendors are continually verified to be up to date on their licenses, workman’s compensation insurance, liability insurance, and as necessary, bonding for larger cost related work. We monitor the repairs. We ensure that repairs to the property are completed in the most cost efficient and quality manner. We also ensure that inconvenience to the tenant is minimized through timely response and completion of the work.

Do we require a cash reserve on our account?

Yes, owners maintain a $200 reserve fund per property, negotiable over 4 same owned properties, for any cost to the unit billed that may occur between rent collections.

What happens when the tenant is late paying their rent?

Delinquent statement of account letters is sent to the tenant. Followed by phone call from their property manager. If both these steps fail to secure payment or arrangement for payment a legal 3-day notice to quit or pay is hand-posted on the property. The owner is kept informed throughout this process. From this point on it is a legal matter and goes to our attorney if payment has not been satisfied.

How often do evictions occur and what is involved? Is there a cost to me?

An eviction of a tenant is usually the last resort after all other attempts have been made to either collect rent or rectify an untenable situation. It is something we try to avoid at all cost. Evictions can be both lengthy and costly; however, it is an inherent risk of rental ownership and management. The eviction process to remove a tenant and regain possession of a rental property may involve time and money. Before any action is taken in this direction, you will be consulted and provided with all the details to a make a sound decision.

What happens if tenants break their lease?

When a tenant fails to fulfil their lease term they are responsible for the rental installments that remain unpaid in their lease. In most instances their security will be claimed and applied to their debt balance. The owner of the property may consider small claims court or other credit enforcing companies to pursue full compensation of debt.

Do you pay my Mortgage? Maintenance Fee? Lawn and or Pool Service?

Our services include expenses related to the operation of the property such as; Yard/Lawn/pool/ fencing/ garage and most general repair outside and inside. Pest control if agreed. Your administrative charges such as paying: Accountant fees; Insurance; HOA dues; mortgage payments, property tax payments and utility turn on/off orders are not considered as covered under our management. However, for a minimal yearly fee and on some a transaction fee we will cover these items and more.

When should I expect a statement and any net proceeds?

Rent is normally received on or before the first of each month through the 4th of the month; it is forwarded to the accounting department and processed for deposit. Upon deposit, any expense invoices are paid and the net proceeds disbursement is prepared along with the statement each month by the 10th. We encourage electronic ACH net proceeds into your bank account with online statements of each month at no charge. Handling fees will apply if elected non-electronic.

Will I have to provide moneys into my account if my expenses are greater than the rent or no rent?

In a rented unit rents are normally received in a timely manner and expenses are nominal. There may be instances where large repairs may be required that exceed your normal rental collection, at which time we will be in contact with you in advance to plan the project and how you will be funding it. The other instance may be during evictions where utilities and other recurring expenses are required to be paid. If you have registered in the Owners Portal you have access to have your funds through ACH from your bank account into ours. This is a time and cost-saving convenience option tool for you to utilize in this type of situation.

Can I expect all records pertaining to my property to be maintained and made available for me?

The records of copied paid invoices and income/expense statements are retained and provided to you on monthly basis. Year-end statements and 1099 for tax reporting are also provided either by mail or electronic viewing: Rental agreements, tenant files, inspection reports, and other documents as required for the operation of your rental property is held in our office. For the online portal owner, they may be shared in the “Document” section of your online account.

Will I need to change my insurance coverage for my rental property?

Yes, insurance fire and liability is mandatory coverage. We advise all our property owners to consult directly with their insurance agent to be certain they are carrying adequate insurance for their property needs. We require current proof of insurance to be on record in our office for all properties we manage. We also request that FlaRent Inc. be named as additionally insured with the certificate sent to us if acceptable with your insurance company.
(Additional note on property insurance coverage). Your insurance does not cover the tenant’s contents. The tenant is informed to obtain renter’s insurance. This is also noted in their lease that the owner’s insurance does not cover the tenant’s personal contents or any loss they might have during their tenancy.