Frequently Asked Questions

How does Lisa Hall Realty, Inc. find tenants and what screening measures are used?

We’ve developed a great reputation around town for having high quality, well managed rentals which allows us to maintain a wait list of tenants eager to rent from us. If that wasn’t enough, we take high quality photos and submit listings through our 200 plus syndication partners on the internet including Craigslist.org and the Multiple Listing Service (MLS). We perform countless showings until we find the right tenants which are screened for employment, income, credit, background, criminal history, past rental history, social media and local personal references.

What if the tenant breaks the lease and moves out 2 months into a 12 month lease?

Even though we screen tenants to the highest standards, major life events such as layoffs, military deployment and divorcee force responsible tenants to have to break their lease. In these circumstances, we are often able to switch out the tenants seamlessly without any disruption to the monthly rent disbursements to our clients.

What do I get for my monthly management fee?

With Lisa Hall Realty, Inc. all-inclusive management fee, you get the ultimate in piece of mind. Like an insurance policy, you can rest assured that no matter what happens to your property, there will be a highly skilled professional manager restoring it back to its original condition. Your monthly management fee also includes the following:

• State of the art rent collection by direct debit.
• Your rent disbursement deposited directly into your account by the  15th of every month.
• Monthly statements delivered by e-mail as well as year-end 1099 summaries.
• Professional maintenance staff to handle any property issue.
• Rent collection for delinquent tenants.
• Processing of insurance claims and full restoration of your property in the event of a loss.
• Access to service contract discount pricing with key contractors.
• The best pricing on all appliance replacements with free installation.

Can I hire Lisa Hall Realty, Inc. to lease my home but save money on the management by doing it myself?

Yes, please refer to our fee schedule for our tenant placement service only.

How long will it take to rent my property?

The answer to this question will always depend on the property, however for the vast majority of our clients, the only time their property is vacant is during the 2-3 days it takes to turn over and freshen up the rental for a new tenant. For new clients, as long as you give us 30 days notice of an upcoming vacancy, and follow our recommendations on pricing and unit preparation, we will usually have a tenant for you the moment the property becomes available.

I interviewed several managers and found a lot of variation in fees. Why is that?

Real estate companies operate completely independently of one another and set their fees according to what they consider reasonable returns for their efforts. There are no “standard” fees for particular services. When comparing management firms, please make sure to compare the total long term costs; including fees for additional services such as managing insurance claims, collections and repair expenses; vacancy costs and finally, the cost from leaving money on the table and not realizing the full market potential of your rental. Some companies like to offer a low upfront fee but then nickel and dime you for every little thing they do including charging excessive rates for repairs..

Are property managers required to be licensed?

Yes, Lisa Hall Realty, Inc is a fully licensed Real Estate Brokerage and Property Management Firm in Florida. Property managers must be licensed and cannot work independently. They must work under the supervision of a licensed real estate brokerage firm and complete continuing education every two years in order to renew their license.

My property manager has suggested that I paint, replace a few rooms of carpet, and have the house power washed before placing it on the rental market. I’m not selling—why should I go to all this trouble and expense for tenants?

A well-maintained property attracts better tenants, leases in a shorter time, and generally brings higher rents. Well-qualified tenants realize they are sought after and shop homes that are in good condition and offer the best value for their rent dollars. The money you “save” by not having the property in top condition will be spent on longer vacancies and the problems associated with attracting lesser qualified tenants.

Why should I use a professional property manager?

Property management deals with the employment of business practices and "people skills" to obtain the greatest net income from a piece of real estate. It also integrates a minimizing of your susceptibility to the negative influence of an assortment of laws and regulations that impact the use of the property. A good property manager can maximize income, minimize expenses, and help you maintain the highest property value possible while avoiding legal hazards. A good manager sets high standards for tenants and inspires them to meet and sometimes even surpass these ideals about the benefits of professional property management, an article by our Broker.

Are there risks to renting my home?

Certainly no business endeavor is without risk. However, in all our years of managing property, we have seldom had to evict a tenant. We have occasional damage such as broken window. But it would be foolish to assume that major damage or the need for eviction will never occur. Nevertheless, with proper management, the risk in the rental business is low. Sometimes it is difficult for a property owner to make the transition from regarding his property as a personal residence to perceiving it as a business asset.
To be successful, the owner must look at it as a resource from which he will most certainly generate business income and from which he may sustain some business losses. It is also important to remember that unless a business asset is maintained, it will produce less and less income, so it is vital to keep the property in top condition at all times. There will be some wear and tear, just as there is wear and tear in your own home. For this reason, Monterey Bay Property Management works extremely hard to assure that the properties are being maintained in the condition that will generate the most income for the owners we represent.

Should I rent furnished or unfurnished?

One of the most common questions from our clients is whether to rent their property furnished or unfurnished. It may not seem like there is much difference between the two, just simply put some furniture in a suite and rent for a higher rate. Unfortunately, this is not the case, it is a common misperception that since furnished rentals achieve higher rents they must make higher profit. Furnished suites are basically long term stay hotel rooms and come with electricity, cable, phone, internet service and sometimes cleaning services. The leases are most often 3 - 6 months and the vacancy rate can be as high as 30% in the off season months. For these reasons, we will most often suggest renting a property unfurnished for long term 1 year leases and let the tenant pay for the utilities and cable. Other benefits of renting your property unfurnished are that you get steady income with only a 1-2% vacancy rate in Vancouver's Downtown areas, you will not have transient tenancies and damages to furniture is more costly to repair than bare walls and carpet. There are circumstances where renting furnished makes sense. In cases where the owner of the property is the primary resident and will be taking extended leave. Due to the high cost of storage and the possibility of the owner using the property throughout the year or coming back to live permanently in this case we do support renting a property furnished for convenience and availability.

What is Tenant Placement?

Tenant Placement or Lease-up is a term that we use to refer to the process of placing a new tenant, including advertising, showing and approving a qualified tenancy.

Where will you advertise my property?

Lisa Hall Realty, Inc. utilizes the Internet to it's fullest to advertise and attract qualified tenants for your investment property. We have accounts with many of the sites available to us as Property Managers and also use our own website to show your property to it's fullest potential. Print advertising is also a popular media for rentals, however, we have found that over the past 2 years the local papers are becoming more costly and less effective, although we still do some print advertising it is minimal.

What criteria do you use to choose a tenant?

Lisa Hall Realty, Inc. takes a full application on each and every tenant that we place in our client's properties. With this application the tenant signs authorization to perform credit and reference checks as well as criminal checks. This information gives us a history of financial responsibility, confirms previous addresses as well as giving us work history and income verifications.

When do you do showings?

Simply, whenever the perspective tenant wants, within reason of course. If a property is currently occupied we are limited as to how often and when we can show the property, however, with a good working relationship with the tenant we rarely have conflict. Preferred showing times are during the daylight hours to show the property in it's best light but unfortunately schedules don't always permit and this can be difficult in winter months, this makes Saturdays and Sundays very popular days to conduct showings.

Do I have a choice in who lives in my property?

Lisa Hall Realty, Inc. will use our best judgement in choosing the most qualified tenant, however, if the owner perfers to have the final say, we will present the applications and allow the owenr to make the choice. Lisa Hall Realty, Inc. does not deny applications based on sex, religion, race, and/or children or for any other reason that can be considered biased or prejudiced.

Who does the tenant call for repairs and emergencies?

The tenant will always call their Property Manager or Lisa Hall Realty, Inc. directly to arrange for repairs and emergencies. The tenant will not have any contact with you and will not in most cases know who you are. Lisa Hall Realty, Inc. will be their only contact by email and mobile phone in case of emergency.

Who pays the utilities?

The tenant will pay the utilities unless other arrangements have been made; in this case we receive the bills at our office and pay them on your behalf. These costs are deducted from your income prior to depositing the rent in your account.

Do I need insurance and what does it cover?

Yes, you do need landlord's insurance. The tenant will insure their content and you will insure the fixtures and the rental property. Each insurer has different packages, please see your insurance agent for any details about insurance.