Landlord FAQ – Property Management Services
Far West Realty takes pride in helping out clients with their investment property. Not all property management services are the same, neither is your property. Let Far West Realty take care of your rental property, we can also handle the maintenance of the rentals that we incur.
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What property management services do you offer?
Far West Realty is a full-service management company. So, we offer a wide variety of management services to landlords whose properties we manage.
- Find and screen prospective tenants.
- Execute and carry out lease agreements with qualified tenants.
- Oversee not only the occupancy of tenants, but also keep a sharp eye on the way they treat the property by conducting periodic on-site inspections of the property. (These are not just drive-by observations of the property, but we always go, by appointment, to the property and walk through the dwelling, personally viewing every room for first-hand documentation of the property’s condition).
- Receive maintenance and repair calls.
- Resolve maintenance issues.
- Collect periodic rent payments.
- Handle the payment of maintenance, utility and other expenses as needed.
- Provide a full, monthly accounting of all transactions with full documentation.
- Provide annual operating statements.
How much do you charge for your services?
We discuss our very competitive fee schedule with each prospective client individually and privately.
Do you perform background checks on prospective tenants?
We screen every applicant through AAA Investigative Services. AAA performs a credit check as well as a search for any eviction or criminal history. In addition, we directly verify rental history on each applicant by speaking directly with previous landlords when applicable and possible. We also verify employment and/or the applicant’s ability to meet the financial obligations which would be connected with the lease.
How would I receive my monthly rental proceeds?
There are two methods we typically use to transfer money to our clients: (1) a check by good old-fashioned snail mail; (2) an electronic transfer directly to your bank account via secure online portals. The choice is yours.
When would I receive my rental proceeds?
Typically you would have your money along with your detailed monthly statement, not later than the 15th of the month, if you opt for snail mail, and between the 8th and 10th of the month if you opt for electronic portal transfer. If you opt for the electronic transfer, you would have 24-7 access to all your account information through our secure portal system, as long as you have access to an internet connection.
What sort of advertising do you do?
We advertise primarily online, at a host of syndicated sites such as Trulia, Zillow, Hotpads, Rent.com and many more. If appropriate, and you approve, we can also list your rental property on the Prescott Area Association of REALTORs Multiple Listing Service. We also use signage posted directly on the property that is being offered for lease.
Can I refuse to rent to smokers, or people who have pets?
We follow, absolutely, all state and federal Fair Housing laws, which means we will not discriminate against any member of a protected class, because of being a member of that class. Also, be aware that service animals are not considered pets under the law, and therefore, you cannot refuse to rent to someone because they have a service animal. Nor can you charge pet fees or pet “rent” to someone for a service animal. That being said, you do not have to rent to prospects who have pets. You also do not have to allow people to smoke in your rental property. For further information, see our Fair Housing page.
Will I have to pay you an additional charge beyond what a vendor’s bill is for maintenance done on my rental?
No. We do not “up-charge” any of our vendors’ invoices. What they charge for the work done on your property is what you will pay.
Will you collect my “rental tax” or transaction privilege tax for me and then file the necessary returns?
If applicable, we will collect and forward to you your legally required transaction privilege tax, and then forward it, in full, directly to you with your rental proceeds. We do not file your returns, or otherwise handle any related administrative work for you, beyond collecting and forwarding to you, the required dollar amounts.