FAQ

What services do you provide for landlords?

- We provide comprehensive property management services including tenant screening, leasing, maintenance coordination, financial reporting, trust  compliance, rent collection, property inspections, ordinance compliance, action for possession, air filter delivery, and tenant relations. We do everything we can to ensure your property is well maintained and remains a solid investment for you. 

How do you determine the rental price for my property?

- We conduct a market analysis using robust technological resources paired with years of knowledge of the target market to determine a realistic and achievable expectation of rental prices while ambitiously striving to maximize rates for our owners. 

What’s included in your management fee?

- Our management fee includes all of the services we provide for landlords. We do not have any hidden fees that will take you by surprise!

How do you screen prospective tenants?

- We rely on a nationwide background and credit reporting service that provides comprehensive screening of every prospective tenant. 

How do you handle maintenance requests and repairs?

- Maintenance requests are submitted through our resident portal or by phone, and dispatched appropriately after our team determines the cause of the issue. Our experienced team knows how to get the right person on the job the first time.  

How often will I receive my rental income?

- Our owners receive their net rental proceeds on or before the last day of the month. 

Do you require landlords to carry insurance?

- Yes. It is imperative that properties be insured by owners in order to protect their investments. We carry our own insurance and require insurance from owners and tenants alike. 

Can I still be involved in decisions about my property?

- Yes! We treat properties like family, and we want you to be involved as much or as little as you would like. We require our own discretion to make decisions for smaller tasks, but when it comes to any sort of renovations, we look forward to working hand-in-hand with you along the way. 

What happens if a tenant doesn’t pay rent on time?

- Tenants are given a grace period to pay rent. After that time, their rent is late and we may work out a payment plan to get caught up, or seek possession of the property through eviction action.

Do you handle evictions if necessary?

- Yes. While we work hard to minimize or avoid evictions, we are equipped to handle and are experienced with the eviction process. We can represent you in the proceedings and coordinate the entire process. 

Will you inspect my property regularly?

- Yes. We conduct regular inspections quarterly or on an as-needed basis.

How do you market and advertise vacant properties?

- We host our own website where traffic is driven through our social media and physical signs. We also syndicate your listing to over a dozen 3rd party rental listing sites.  

Can you help me get my property rent-ready?

- Definitely! We look at comparable properties and organize a plan to get your property rented for top-dollar while minimizing extraneous costs that negatively affect your returns.

What type of reports will I receive about my property?

- As one of our owners, you will have access to your owner portal where you will see all of your income and expenses in a convenient dashboard on a portfolio level. You will also see work orders, bills, and receive documents from Rent Midlands. 

Are there any hidden fees or startup costs?

- We do not have any hidden fees. Our pricing structure is very straightforward and you do not have to pay any money upfront. We charge a marketing fee, a monthly percentage of collected rent, and a small annual fee to cover our ongoing marketing costs. 

How do I apply for a rental property?

- You can apply for a property on our website by visiting the “Availability” page and clicking “Apply Now” under the listing you would like to apply to. Have your ID and paystubs ready to expedite your application screening process!

What is required to qualify for a rental?

- Our rental decisions are made after review of all applicants based on gross monthly income, credit score/history, rental history & verification, employment verification, and criminal history. We require 2.85x the monthly rent in total gross income, a credit score of at least 500, and generally good rental history. The standard security deposit is the equivalent to 1 month of rent, but may be increased based on factors such as credit and rental history. The minimum credit score for a standard deposit is 650, and rental history must be positive within the last 7 years. 

Do you accept co-signers or guarantors?

- Yes, we can accept cosigners. Cosigners must exceed the minimum criteria and have gross income of at least 6x the monthly rental amount. 

How long does the application process take?

- We can typically reach a decision within 48 hours. From time to time the process is delayed while we await landlord verification, employment verification, or require further documentation from an applicant. 

How much is the security deposit?

Our standard security deposit is the equivalent to 1 month of rent, but may be increased to 1.5x or 2x the monthly rental rate based on factors such as credit and rental history.

Is the application fee refundable?

- The application fee is typically not refundable, and can not be refunded once your screening process has begun. 

Can I have a pet in the rental?

- Several of our properties are pet-friendly as indicated on the property listing. Pets are subject to non-refundable pet fees and additional monthly pet rent. 

What is your policy for rent payments and due dates?

- Rent is typically due on the first of the month and considered late after the 5th. We do have some flexibility with setting the due date for your rent, so ask your agent more about this when you apply!

How do I submit a maintenance request?

We ask that you submit maintenance requests through your resident portal. It is easy and it guides you through describing your issue as well as submitting photos which help us to get the right person to your home the first time. 

What should I do in case of an emergency repair?

- In cases of emergency such as flooding or fire, you are responsible for taking steps to mitigate damages such as contacting an emergency plumber or the fire department. Your next call should be to Rent Midlands where you can get through to our emergency maintenance line 24/7.

Do you offer any online resident portals or payment options?

- Yes, you will have access to our online resident portal where you can view your account and pay via ACH, Credit/Debit card, or ApplePay. We also have an electronic cash payment using Pay Near Me and can also accept Cashiers Checks and Money Orders via mail, and we accept cash in person at our office. 

Can I paint or make changes to the rental unit?

- You must get permission from Rent Midlands prior to making any changes or painting your unit. 

How much notice do I need to give before moving out?

- Your lease will specify how much notice you must give prior to moving out, but typically the requirement is 30 days prior to your move-out date. You can easily submit your notice via your resident portal. 

What happens to my security deposit after I move out?

- After you move out, we will inspect your unit and address any damages exceeding normal wear and tear to your unit. We will deduct any funds necessary to cover the cost to repair such damages, and the remaining balance of your security deposit will be returned to you in the manner you specify when you give your notice (eCheck or physical check).

Can I renew my lease when it ends?

- About 3 months before the end of your lease, you will receive either a notice of non-renewal, or will receive renewal options that you can easily review and sign. You will also have the option to give your notice to vacate at that time.