Frequently Asked
Questions

We have a flat fee of $129/month for property management services.

Our leasing commission is 1/2 of the first months rent.

We have a renewal fee of $250 each time we extend the lease on your behalf.

We have a month-to-month management agreement with no cancellation penalties.

Considering more than 75% of renters have pets, we strongly encourage allowing them. Our thorough screening process and Pet Damage Guarantee reduce your risk of allowing pets. 

95% of our property owners prefer the speed and security of receiving their rental income through direct deposit. The remaining 5% receive their payments through a physical check that is mailed to them. We distribute payments to our owners by the 8th of each month or the next working day following that date.

Residents submit their maintenance requests directly to their property manager, who will request additional information and photos or video. We’ll perform troubleshooting to avoid sending a vendor when possible. If repairs are warranted, we’ll dispatch a trusted vendor to complete the repair at a fair price. Once the invoice is received, the property manager determines if the repair was caused by resident neglect or misuse. If so, the invoice is billed back to the resident. The property manager will also verify the repair is sufficiently completed before issuing payment. We close this process by requesting feedback from the resident on the quality and speed of the repair.

We visit your home to determine the condition and any unique characteristics. We use that data to find comparable properties recently leased through the MLS, paying close attention to price reductions, seasonality, and days on the market. We also search for all active comparable listings on Zillow to determine the current competition.

Within the first two business days of signing your management agreement, we will personally visit the home, complete a detailed inspection, provide you with a scope of work, request estimates from our trusted vendors, and provide you with a comparative market rental analysis. If your home is deemed ready at the initial inspection, we will immediately take marketing photos and commence advertising.

It depends on what your time is worth and what you enjoy doing with your free time.

1.Will I have a dedicated point of contact, or who will I talk to when I have a question? 

2.Will my tenants or I communicate with a call center, phone tree, or chatbot?

3.Who’s inspecting my property, and when?

4.What is your strategy to find the best tenants quickly?

5.Does your company profit from maintenance? Do you have a proactive strategy for preventative maintenance?

The answers you receive to these questions will allow you to determine if your property manager’s policies match your long-term objectives.

Residents must pay their security deposit in full (typically one month’s rent), sign the lease agreement, provide us with their insurance policy, and connect all utilities in their name. On move-in day, we meet them at the home to document the move-in condition and orient them to the home. The orientation includes showing the location of water shut-off valves, GFCIs, electrical panel, sprinkler timer, A/C filters, and any other unique home features. We also walk them through how to pay their rent, how to submit maintenance requests (including emergencies), how to access their online portal, and explain the Resident’s Benefit Package.

No. We handle all the routine landlord tasks but will still involve you in maintenance decisions exceeding $500.

We use third-party software to screen prospective resident’s criminal, eviction, and credit background checks. We also personally verify income and speak to their previous and current landlords.

Prospective residents pay application fees directly. Application fees enable us to complete a thorough credit, criminal, eviction record, and past rental history and income verification.

You should consult with your insurance agent to ensure you have the appropriate landlord policy with sufficient liability coverage. You should also check for any potential pet breed restrictions. Home Ladder partners with insurance providers and is happy to provide a referral for the appropriate coverage.

Either strategy can work – identify your long-term goals and align your strategy with your desired outcome.

95% of our residents take advantage of paying their rent online. The remaining 5% pay their rent in our convenient Gilbert location or various PayNearMe locations.

We perform move-in and move-out inspections. We also complete annual preventive maintenance inspections before suggesting informed renewal recommendations. You may request additional inspections for an additional fee. However, we caution against additional inspections as it infringes on the resident’s privacy and can translate into lower renewal rates.

Check with your local laws first – some municipalities have added source of income as a protected class, so you may not have an option.

This is the case in Phoenix, Tempe, and Tucson – more cities are considering adding this requirement.

There are pros and cons to these programs.

Investing in rentals with an HOA can have benefits and costs – understand the bylaws and crunch your numbers to decide if the investment makes sense long-term.

If residents fail to pay rent on time, we start with a friendly email reminder, followed by a phone call, and conclude with a formal written notice sent via certified mail. We’ll continue sending the resident reminders via email, phone call, and text until the balance is paid in full or possession of the home is returned. If the resident remains in default by the 12th of the month, we will engage our attorney to commence the eviction process.

Once your tenants confirm vacating the home, we conduct a thorough inspection and compare that to the move-in inspection. We’ll charge the resident’s deposit for any damages, less normal wear and tear. We’ll refund the resident any remaining funds from their deposit within 14 business days. We also proactively establish utility services in our name to ensure no lapse in services.

You will receive your monthly financial statement via your Owner Portal. In addition, you will receive an annual statement and W9. You will also have access to many financial reports via your Owner Portal, which you can access 24/7.