Property Management FAQ

  • Can I use your services if I already have an agent listing my home for sale?

    Park Avenue Properties respects the Law of Agency and will work side by side with your Real Estate Agent. If a Tenant is found before a Buyer is found, then you simply remove your listing from the sales market. If your Real Estate Agent finds a Buyer before a Tenant is found, then you simply send us a copy of your contract and you can terminate without paying the full contract termination penalty. It is requested that you reimburse for half of the property marketing expenses for the months your property was advertised for rent up until you found a Buyer and you notified Park Avenue Properties in writing that your property went under contract.
  • Do you have a pet or smoking policy for properties that you manage?

    It is recommended that a property owner be pet friendly where possible. Please note that by not accepting or considering pets you may be limiting your rental audience. Our pet policy is as follows:

    - Non-refundable pet fee range of $300-$400 per pet due with move in funds. Pet rent may be applicable.
    - 3 pet limit per household
    - Guard dog breeds are not permitted

    Rental applicants with household pets or service/companion/assistive animals are required to submit a per pet application through a third-party pet screening vendor as part of our rental application process. No smoking is allowed at any of our managed properties.
  • How do I sign up for property management services?

    Get started by Inquiring About Our Services.
  • How do you handle property maintenance?

    Our in-house maintenance department dispatches service vendors for routine maintenance. Maintenance dispatchers are on call during after-hours, weekends and holidays for maintenance emergencies.
  • How do you screen and select rental applicants?

    Tenant applications are processed electronically and include credit, criminal, sex offender and past eviction background searches. Our scoring and tenant recommendation policies are built on industry standards and are followed to ultimately accept or decline prospective tenants.
  • How do you show the properties you manage?

    We require all showings to be Agent assisted. No property access is granted unless the prospective tenant is accompanied by a licensed Agent. We use security code lock boxes on each property so that other Realtors® / Agents do not have to sign out a key at our office. Signing out keys is a deterrent to Realtors® / Agents and, in many cases, they will not show your property due to the extra time and gas required to pick up a key and take it back to the office.

    Showings are scheduled through Park Avenue Properties' site. This site uses patent pending technology to pair prospective renters with a licensed Real Estate Agent in our Rental Showing Network.

  • How will you advertise my property?

    We advertise listings aggressively online through our website and multiple listing-syndication sites that blast your listing across the internet. We also advertise on our exclusive showing appointment website, On the ground, we place For Rent signs at the properties.

  • I would like to manage my property myself. Can you help me find a tenant?

    Yes, we call this our “Procurement-Only” service option. We will find and screen well-qualified tenant, prepare the lease, and collect the required move-in funds. We then turn the lease and security deposit over to you and you assume management responsibilities for the lease term.

  • Should I rent or sell my home?

    This is a popular discussion point in our given economy. If you are undecided on renting versus selling then consider this scenario: Why not market your home for sale and rent at the same time? Park Avenue Properties has the resources and relationships with top producing Real Estate Agents to help you market your home for sale while searching for a well-qualified tenant at the same time. We will refer you to a top producer at no charge to you to ensure you have the absolute best resources to assist you in your real estate needs. When the best first option, Buyer or Renter, comes along then simply terminate the other option.

  • What contracts do you use with homeowners / landlords and tenants?

    Master agreements that have been reviewed by Park Avenue Properties’ legal counsel are used and are compliant across the States where business is held.

  • What fees will you charge me?

    For our Turn-Key service option, the following applies:

    There are no hidden fees or monies due upfront. If your property is rented within 1 – 60 days of listing the rate is 10%, 60 – 120 days the rate is 9%, 121 days or longer the rate is 8%. Discounted monthly rates are offered at the following: (a) Clients with 2 or 3 properties start at a rate of 9% (not 10%) per month which can respectively decrease to 8% per month if the vacancy time exceeds 121 days or longer for a specific property. (b) Clients with 4 properties or more receive a flat rate of 8% per month.

    The cost associated with advertising your property is recouped from the Finder’s Fee (also known as a Leasing Fee) which is assessed at the beginning of the lease term and is equal to 50% of one months rent. Additionally, there is a one time $100 set-up charge per property.

    For “Procurement-Only” service:

    Tenant Procurement involves advertising, showing, finding, preparing the lease documents, collecting move-in funds and placing a well-qualified tenant in your property. Once a qualified applicant is found, the lease documents will be prepared for your and the tenant’s execution. The first month’s rent will be collected (prorated if a partial month), as well as a full security deposit (equal to one month’s rent). A fee equal to one (1) month’s rent will be charged to you for this service. This fee will be deducted from the collected rent and you will be billed for the difference if partial rent is collected. The tenant’s security deposit is released to you to hold for the lease term. There is a one-time marketing fee charge for this service which is paid at contract signing.

  • What services are provided in the Turn-Key Property Management service option?

    Property advertising, finding and screening a qualified tenant, preparing and executing the lease, performing pre- and post move-in inspections, collecting rent, collecting and holding the security deposit, disbursing monies to the owner, handling all maintenance issues, evicting (if necessary), and responding to any and all tenant / 3rd party issues.

  • When and how do you disburse payments to homeowners / landlords?

    All rent is due on the 1st of the month, unless stated differently in the terms of the lease agreement. Property owners are paid after rent is collected and cleared. Owner draws are processed on the 10th, 15th and 30th. If these dates fall on a weekend or holiday, owner draws will be processed the next business day. Please keep these dates in mind when scheduling your monthly mortgage payments. A monthly statement will be posted to the online owner portal after month end and will include all income, expenses and owner draws collected and disbursed during the month. Owner draw payments are disbursed via direct deposit to a checking or savings account of your choosing. There is no additional charge to our homeowners for this service.