Owner Frequently Asked Questions
Q: Am I required to make my property available to Section 8?A: You are not required to make your property available to Section 8. While we do manage some properties on the Section 8 program, you do not have to participate.
Q: Are you licensed?A: All of the sales and leasing agents at Blue Ribbon Property Management are licensed. Most of the management team is also licensed.
Q: Can I reach you after hours?A: Yes. Marketing never stops. Sales and leasing agents are always available. We have a system to monitor and handle emergency maintenance after hours, on weekends, and holidays.
Q: Can you put the money directly into my account?A: Yes, we can direct deposit owner proceeds. ACH payments are the easiest, fastest, and safest way to process owner payments.
Q: Do I get to see the lease or sign it?A: Executed leases are uploaded and shared on the tenant portal as well as the owner portal. The management company executes the lease contract on behalf of the owner, under the guidance of the management agreement.
Q: Do you sell real estate too?A: Yes, we do sell real estate. We have a very strong and thorough sales team.
Q: How and when do I get my checks?A: Your property is managed for the month, and the owner proceeds are processed on the first business day of the following month.
Q: How is rent collection handled?A: Rent is due on the 1st of each month. There is a 3 day grace period. We have a person dedicated to posting and collecting rent payments.
Sometimes, problems occur in a tenant's life which causes a tenant to become delinquent in rent. Our staff works hard to communicate with the tenant, counsel them on resources available to help them stay in their home, and communicate the concerns to the owner when necessary.
Q: How long of a lease do you sign?A: "When" you end the lease is often more important than the length of the lease term in a student driven market. It is critical to end the lease at the right time to avoid vacancy, and to obtain the highest rental rate.
Q: How much security deposit do you charge the tenant?A: Most single family homes have a security deposit equal to one month's rent.
There is also a program available to tenant's who qualify that is a security deposit substitute for higher end landlords, which allows renters to keep their cash, yet protects landlords from lost damage charges.
Q: How soon can you start managing my property?A: The turn over process is very quick and easy. If you are not currently in a a management agreement, we can often start managing a property right away. Our owners live all over the world. We strive to make the turnover process seamless, comfortable, and informative.
Q: What type of properties do you manage?A: No matter the price point of your property, we strive to give everyone PRIME treatment and service. We manage properties in a variety of socioeconomic positions, from high end class A properties to class B or C properties. Owners, tenants, and your property will receive quality service and communication.
Q: What type of reports do I get and how often?A: Our software provides a variety of customizable reports. A detailed Owner Statement is posted to the individual owner portal each month, as well as emailed in a pdf format. Reports may be exported in Excel upon request. Budget reports are available. We also send year end reports.
Q: Who holds the tenant security deposit?A: Security deposits are held by the management company in a special account until move out, at which time the management company processes the Deposit Disposition Report.
The disposition of the deposit entails accounting and distributing the deposit between tenant and owner for damages, cleaning charges, and any unpaid tenant balances.
Our team works hard to photograph and document any tenant charges and fairly reimburse owners for damages.