Why Little & Young?

Looking for a property manager can be STRESSFUL! This is your home! You have invested a lot of time, love and money into this property and you want to make sure its in good hands! Little & Young has been in this business for a long time, and there is a reason that we are number 1. But don’t just take our word for it… we have compiled a list of the most important questions to ask of a Property Management company… and our answers!

 

1) Is your property manager licensed?

  • Yes! Our Senior Property Manager Ms. Deanna Garcia is licensed and has been working in this business for over six years. She is responsible for overseeing the Real Estate operations of the rental department.

2) Are you insured?

  • Little & Young carries insurance as a company.

3) How long have you been in business for?

  • Little & Young has been in business since 1996 as a Property Management and HOA management company. We have a lot of experience within our walls!

 4) How many properties/doors do you manage? And how many employees do you have?

  • Little & Young manages around 600 Rental Properties and has a full time rental staff of 5. We also have a full staff of accountants and maintenance to ensure that we provide the best possible service.

5) What types of properties do you manage?

  • We manage single family homes, apartments, condos, duplexes and townhomes! We have quite a bit of experience in all types of properties. As a plus – we also manage most HOA’s and know the Rules & Regulations!

 6) What is your communication response time for owners and tenants and via what means?

  • We strive to be as prompt as possible in our responses. Emails and phone calls are returned as quickly as able. This is a very fast paced business, but you are our number one priority!

7) How often do you communicate with me?

  • We will reach out to you to notify you of any repairs needed, questions from tenants, tenants vacating and with any marketing questions. Often in this business no news is good news!

8) What are your management fees?

  • Little & Young strives to go above and beyond in our industry. For that reason we have TWO property management packages – tailored to meet our owners needs! The standard package is 10% and the premium package is 12%.
  • If your unit is vacant ZERO fees are charged.

9) What is your fee for filling new tenants or re-leasing an existing tenant?

  • We do not charge a filing fee for new tenants, or re-leasing. As far as we are concerned, this is all part of our job and part of what you are paying us for!

10) Do you have any hidden fees?

  • Some property manager charge fees and markups on repairs, marketing, account setup and others… We charge a flat rate of either 10% or 12%. That’s it.

 11) What percentage of expiring leases renew?

  • More than 75% of our expiring leases renew for another term. Occasionally the tenants choose not to renew – but this is generally due to moving and not in direct relation to Little & Young as a management company.

 12) How long is your average # of month’s occupancy per property?

  • Average is about 1 year. We do not sign leases under 12 months without owner approval. Sometimes we will do 18 months, or even up to 3 years – but never without talking to the owners first!

13) Can you provide copies/templates of your contracts? (lease, pet addendum’s, etc..)

  • If you would like a copy please don’t hesitate to reach out to our Lead Property Manager – Mrs. Casey Schaffer at casey@littleandyoung.net

14) Can I cancel my contract with you if I’m unsatisfied?

  • Like all other contracts ours are legally binding for the time frame specified. In our case this is 12 months, and automatically renews at the end of the lease. If your unit is vacant we do not charge any fees, and you will be able to go with another management company if you so choose – with a full 30 days written notice. When its all said and done if you are truly unhappy with Little & Young we can discuss parting ways.

 15) How do you determine market rent value?

  • Projected rent values coincide with the market. We will run an MLS comp – and recommend you do your own research as well via Zillow etc. This cost is also determined by YOU – how much do you owe, what do you need each month, how quickly do you want it to rent etc…

16) How do you market/advertise your properties?

  • All of our rentals are posted to the MLS, which then ‘pushes’ the ad to several other marketing sites. We place it on our company website and in our rental list as well. The 12% packages offers quite a bit more as far as marketing. Please call to discuss your needs!

 17) What is the screening process like for qualifying tenants?

  • We run a credit and criminal background check on all applicants over the age of 18 who will be residing in the property. We want to make sure they pay their bills on time, have never been evicted, and have solid rental history. If there is ever a question, we will discuss it with you and YOU are the deciding factor.

 18) Who is your average tenant?

  • It’s a military town and that’s also true of Little & Young. Most of our owners and tenants are military. We also accept section 8 – but only if you want us to on your property.

19) What forms of payment are accepted by the tenants?

  • We allow tenants to pay via debit/credit/e-check online via our secure payment portal. We accept personal checks, money orders or cashiers checks in the office

20) Do you perform property inspections?

  • Our standard package includes x2 inspections a year. Our premium package includes x4. Regardless we are constantly checking on the properties to ensure they are being taken care of.

 21) What is your eviction experience and what is the process?

  • Due to our extensive time in this business, we know how to handle an eviction as quickly and efficient as possible and that only comes with experience. Any company that brags about the number of evictions they have does not have a proper tenant screening process! However this is never fail-proof. Should an eviction become necessary you can rest assured that we will handle the process from start to finish.

 22) How long does it typically take to fill a vacancy?

  • This varies by location and price. We will make recommendations that have been proven to get the property rented faster, but ultimately this will be up to you.

 23) How is the security deposit handled?

  • We hold the security deposit in an Escrow account until the time of tenants move out. We will then complete a move out inspection, and make any repairs necessary. The remainder of the funds is then mailed out to the tenant in a 30 day period.

 24) How do you handle tenant delinquency? Late payments?

  • Rent can be paid until the 5th with no late fees. As of the 6th a late fee is added to the account – which is 5% of the rent.

 25) What is the cost of an average repair bill after move out? (make rent ready)

  • Damages are taken out of the tenant’s security deposit, but there will be normal wear and tear items that will need to be fixed no matter how good the tenant. We strive to keep on top of these misc items throughout the tenancy and will make suggestions from time to time as to these issues. A good rule of thumb is to plan on touch up paint and minor repairs at this point.

26) What is your repair process like?

  • We have a work order limit of $500. This means that if the repair is UNDER this we can do it without prior approval. We will NOT proceed with non-essential repairs without talking to you first. We will make sure you are called or emailed whenever a work order is placed.

27) What is your definition of rent ready?

  • A tenant wants a good, clean house in working order and so do you.  You also need to make sure all the legal requirements of the state are in place like amount of smoke detectors, etc. We like to have the property cleaned, with carpets professionally cleaned, landscaping done and any repairs completed.

28) Do you provide monthly statements?

  • We do provide monthly statements.  They give you all the details, dates, payouts, repairs and show all activity that happens with your rental property each month. We can send these out via mail or email

29) If I decide to sell my property, do I have to sell it through you?

  • We request that if you decide to sell you try Little & Young first. If it doesn’t work out – no hard feelings.

30) Do you have any references?

  • Yes we do!

 31) Last but not least. HOW DO I GET PAID!!!

  • We process the 8-10th of the month. We can send a check or direct deposit the funds into your account. From there we process EVERY Friday. This way if the tenant pays late – you don’t have to wait an entire month to receive your funds.