OWNER FREQUENTLY ASKED QUESTIONS
The experienced and dedicated professionals at Penner Property Management know what it takes to keep your rental investments running smoothly. We offer a complete range of services for locations with four or less units. Let our full services take care of the many tasks required to keep your properties occupied and meet the challenge of day-to-day needs of the tenants. We also make it easy to meet your financial and administrative commitments. While some owners possess all of these required skills, others naturally turn to professionals to handle the core functions and keep their valuable properties performing at their operational peak.
The services we provide encompass a wide range of duties. It begins with marketing the property, placing a qualified renter, collection of rent, maintenance facilitation, property surveys, eviction processing and so much more. Call on our experienced managers for more detail.
Our fee structure is competitive offering you maximum value. Please contact us today for a complimentary market analysis and quote for service.
We will research comparable units (similar size, features and amenities) to make a recommendation based on current market trends. Our goal is to price the house in a manner that will maximize exposure resulting in placement of a well qualified tenant.
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We perform a comprehensive screening of each adult applicant not limited to residence history, employment status and credit history.
You have the choice of having a check mailed directly to you or direct deposit. We also offer debt service to pay recurring expenses (i.e. mortgage & HOA payments, taxes, etc.). In addition, you will receive a monthly statement. It is computer generated, not hand written, and includes all repair receipts for work completed.
View your account 24/7 by utilizing our owner web access feature where you can view payments, bills, make contributions when needed and much more!
Before a tenant moves-in and again when a tenant moves out. Prior to the execution of a lease renewal and mid-lease reviews. We are not certified home inspectors; during our visit we observe the condition of the house.
Management holds the Security Deposit in an interest bearing Trust account in accordance with Missouri Revised Statutes.
The eviction process in Missouri, commonly takes 6 to 8 weeks, including the time for judgements and getting the constable lock out to occur. We begin the eviction process on or about the 5th of the month by using a local Real Estate Attorney. When the prescribed time has expired and the tenants have still not met their obligations we facilitate the filing of the appropriate paperwork (Affidavit of Complaint, Order for Summary Eviction, Instructions to the Constable etc.) with the Court and Constables office.
Being a landlord is a 'business'. With any business or investment there comes with it a certain amount of risk. The most realistic answer to the question is that you "can't be sure" of anything. However, you can take the necessary steps to reduce your risk by using a property manager that has a comprehensive screening process, executes a solid lease agreement and checks on the tenant periodically. A relatively small percentage of people cause major amounts of damage to a property. There is also a small percentage of tenants that will go out of their way to improve the property. Most people fall in the middle. There are no guarantees in this business. Your best protection is to be financially prepared in the event of a vacancy, damage and/or major repair and to maintain adequate landlord insurance and two months reserves at all times.
We will attempt to collect a debt for 30 days after the end of tenancy. If no agreement is reached the file will be sent to a collection agency. Our office does not pursue it further after that and it is always recommended that you pursue legal advice from a licensed attorney.
Your property will rent faster and demand a higher rent value if it is clean and in good condition. This means the interior and exterior should be free of all personal effects, well maintained and clean. Carpets must be professionally cleaned prior to a tenant accepting possession. Flooring and walls in good repair. The house must be in habitable condition in accordance with Missouri Revised Statutes and all essential services operating in good condition.
If you are not currently involved with a licensed management firm we can start immediately. Call today to set up an appointment. When we begin advertising, the property must be ready for an approved applicant to take possession.
Unfortunately, this contract requirement is not negotiable. By naming Penner as additional insured, your insurance company is agreeing to provide a legal defense under the liability portion of your policy only. If your carrier is refusing your request we are more than happy to provide you with a list of reputable insurance agencies that are ready to accommodate your needs.