Frequently Asked Questions
Q: What can we do for you?
A: Reed and Associates can maximize your income, reduce your risk and protect your investment. Managing single-family rental property requires day-to-day attention and a wide range of expertise. We have the experience and resources to achieve your rental property goals. Listed below are just a few of the advantages of working with us.
- Accurate monthly and year-end accounting reports
- Enforcement of contractual compliance including non-payment or other violations of rental agreements
- Peace of mind
Q: What needs to be done to prepare a property for rent?
A: he property should be in the best possible condition to attract a quality resident. Paint should be in good shape with marred or dirty areas touched up. Neutral colors for walls and floors are best. Blinds or shades are ideal window coverings. The home should be “detailed” clean and the yard kept in excellent shape.
Q: How do I determine the rental amount?
A: The local market determines the rental amount. As experts in the field, we know the market and the competitive rental ranges for your home. If the home is marketed too high the home will be vacant much longer.
Q: Will I get a monthly statement?
A: Yes, we provide a monthly statement for your rental income and expenses. Your Owner Distribution will be direct deposited to your bank account.
Q: How do you market the property?
A: We attribute our marketing success to our shotgun approach. Our promotional efforts include media advertising, yard signs, flyers, and most importantly our website.
Overview of Marketing Resources:
Overview of Marketing Resources:
- Internet Marketing
- Yard Sign
- Classified Ads
- Yellow Pages
- Work with Relocation Offices
- Broker Referrals
- Website and E-mail
Q: How long will it take to rent?
A: Vacancy periods are market driven. There is also some luck involved in the right person looking at the right time. On average in today’s Memphis metro market it takes between 30 to 90 days to rent a home.
Q: Who is responsible for the maintenance on my home?
A: Ultimately maintenance expenses for the home are the responsibility of the homeowner. Service request are verified to eliminate unnecessary service calls and every effort is made to control maintenance costs while maintaining the integrity and value of the property.
Lease Purchase Maintenance Request:
The tenants are given a 2 week inspection period with an owner guarantee that the HVAC, plumbing, and electrical are in working order. After the 2 week inspection period the tenants are responsible for all maintenance.
Rental Maintenance Request:
Owner is responsible for all maintenance above $50.00
We advise all property owners to purchase a home warranty.
Lease Purchase Maintenance Request:
The tenants are given a 2 week inspection period with an owner guarantee that the HVAC, plumbing, and electrical are in working order. After the 2 week inspection period the tenants are responsible for all maintenance.
Rental Maintenance Request:
Owner is responsible for all maintenance above $50.00
We advise all property owners to purchase a home warranty.