Owner FAQs
Answers to your frequently asked questions
We would like to thank you for the opportunity to work with you. As part of our onboarding process, one of our goals is to ensure that each homeowner is comfortable with the details, terms, conditions, pricing, etc. of the services that we offer. We have compiled the following summary list of questions that are most frequently asked as a reference point for Homeowners considering retaining our services.
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How long is our Property Management Agreement in effect for?
Our Property Management Agreements are 12 months (1 year) in duration initially. After this initial period, the Agreement is automatically extended on a month-to-month basis unless mutually agreed by both parties. -
How do you advertise my property? Is there an additional cost for photography and listings?
We advertise all of our property listings via a variety of outlets including MLS, our website and social media pages, physical yard sign, and several affiliate sites including Zillow, Realtor.com, Redfin, Trulia, Zumper, etc. There is no additional cost or fee associated with preparing listing materials or photography. -
What are your applicant screening criteria? Will I have an opportunity to review?
We do have a minimum set of screening requirements for applicants including 650+ FICO credit score, clean background check (criminal, sexual offender registry, national terrorist database, Landlord-Tenant dispute records), and a gross monthly income of 3x the monthly rental rate. We do notify you of applications received that meet these criteria and provide details of the applicant(s). -
Who prepares and signs the Lease Agreement and documents with the Tenant?
We prepare all lease documents according to our standard terms and conditions. We also sign all lease documents on your behalf, although you will receive a copy of the Lease Agreement for your records. -
Who collects the security deposit and rent?
We collect the initial security deposit from the Tenant and escrow the funds for the duration of their tenancy. We also collect and distribute rent on a monthly basis. -
When and how do I receive rent proceeds and statement each month?
We distribute rent proceeds electronically via ACH directly to your bank account, although we can mail physical checks if you prefer. We publish statements to your Online Portal by the 10th day of each month or following business day if the 10th is a holiday or weekend day. -
What are the upfront costs for starting service? Do you collect a maintenance reserve deposit?
There are no upfront fees or costs to begin services, we earn our management commissions only after a qualified, paying tenant is secured. We do not collect a maintenance reserve either. -
What type of insurance do I need? Where do I get a new policy?
We do recommend each Homeowner discuss their insurance needs with their insurance Agent or Broker directly. Generally, Homeowners obtain what is commonly referred to as a “Landlord Policy” which is slightly different than your Homeowners Policy. Davidson Properties, Inc. is not licensed to provide insurance or insurance advice. -
Who approves maintenance expenses and how are they paid?
Our Management Agreement stipulates a $-amount for maintenance that requires prior Homeowner approval. This allows our property management staff to quickly and efficiently assess service requests. Maintenance expenses are typically funded using rent proceeds, although we would require payment be submitted in the event of total expenses exceeding rent proceeds. -
Can I still use a vendor that I have worked with previously or prefer?
Homeowners are absolutely able to utilize preferred vendors. As a general policy, Davidson Properties, Inc. contracts with vendors who are licensed, bonded, and insured, although we are more than happy to help with invoicing and scheduling of other vendors at your request. -
What do you charge for your services and how are they paid?
Pricing for our leasing and management services is both transparent and straightforward. A one-time Leasing Commission for new leases, and a monthly Management Commission subsequently, are assessed and based on %’s of rent. These rates are set and agreed-upon at the time the Management Agreement is signed and may vary depending on several factors. -
Do you charge for inspections? How often will my property be inspected?
There is no fee or expense associated with our property inspections. We visit each property annually for an occupied inspection, which is conducted by a professional inspector. Each Homeowner receives a copy of this inspection report complete with notes and photos. We also inspect each property immediately before and immediately after each occupancy.