The tenant is responsible for lawn care while occupied, in most cases. If you own a multi-family property, lawn care is generally included in the monthly rent.
The tenant is responsible for the utilities while occupied, in most cases. Additionally, if you own a multi-family, and depending on how the property is metered, utility expense can be included in the monthly rent.
SunCoast Property Management does not profit from managing the turnover of your property between tenants. We do charge a flat 10% project management fee to cover the overhead required to successfully and efficiently make your home ready to rent again.
Once you are on-boarded with SunCoast Property Management and you officially own the property, SunCoast can utilize our Turn Team to inspect the property and report back to you with a detailed scope and pictures. Your scope will line-item the list of repairs we feel need to be made in order for the property to be made rent ready. Your scope will also include the cost of repairs, plus labor.
Once you have approved the turn and the turn funds have been received, the project will begin shortly thereafter. Unless there is an issue that comes up during the turn process that wasn’t previously addressed on the initial scope, you may not hear from the Turn Department until your turn is completed. However, feel free to reach out to your Turn Coordinator at any time during the turn process. At the close of the turn, you will be provided final pictures of your investment property.
Your property will be placed on the market for rent as soon as the Turn Coordinator has indicated that the home is in showable condition. If the home is in showable condition upon the most recent tenant vacancy, then our marketing team will begin marketing and showing your property immediately. However, it is important to keep in mind, that if a property requires a turn, we cannot market the home until the turn has begun.
We will start marketing your property for rent as soon as the turn has been approved and funds have been received. It is important that we communicate properly with our prospective tenants. If we don’t have an approved turn and/or funds for the turn, then we aren’t able to give the tenant an accurate expected move in date.
There are several variables at play:
- Does your property need repairs? If so, how extensive?
- Is your property currently occupied? If so, are the residents current on their rent?
- If vacant, how long has your property been vacant? Two of the most common issues that come up once a property has been occupied after a long vacancy are plumbing and electrical. Have you had a plumbing and electrical inspection? If you haven’t, we highly recommend it. Not addressing these possible issues prior to occupancy can ultimately cost owners more in maintenance expenses after occupancy than had they faced the issues earlier. Thus diminishing your monthly rental profit.
- Owners need to allow time for the SunCoast Leasing Team to find a qualified tenant. SunCoast Property Management has a dedicated Leasing Team that only leases our managed properties. Provided the home is in good condition and taking into consideration the location… it generally does not take very long to lease up a property, though we cannot guarantee the amount of time it will take to lease any property.
You should be under a management agreement with SunCoast Property Management prior to closing so that the management team can get started immediately. If you are purchasing an occupied property, you’ll need to send us the current lease in place, regardless if it is expired or not and the current rent roll. The security deposit should be sent to our office as well. All of these details should be worked out prior to closing in order to help alleviate any delays. Schedule an On-Boarding Call and we will walk you through all of the details of our property management and our on-boarding process.
SunCoast Property Management 100% complies with the Fair Housing Act. For you, this means that you cannot choose to not allow someone that is a member of a protected class under this particular act. You can, however, choose to not allow pets and smokers in your home, but you cannot deny a service animal. SunCoast Property Management strongly encourages you to allow pets as we have found that most families have one or two. We charge a $350 non-refundable pet deposit to each family with up to two approved pets. We do not allow a pet that is on the Florida aggressive breed list. Click here for more details.
Communication with our owners is one of our top priorities. Some of what you will receive is weekly reporting on the status of your current tenant, access to your owners portal where you’ll see open/closed work orders, all pertinent documents to your portfolio, real time accounting, and the ability to edit banking information as well as personal information. Please visit our Owner/Investor Property Management page.
You will receive a Monthly Owners Draw Statement. We post your monthly statements to your owners portal as soon as your payment has processed.
Our staff best communicates by email. But of course, we are always happy to schedule a call with you.
As your property management company, it is important to let us do what you hire us to do … find qualified tenants, manage the tenant and aim to protect the integrity of your investment. Though we are open to discussing future tenants with you, it is best to follow the rental requirements in place. For information on our tenant screening criteria – Click Here.
Once it is time to perform the unfortunate task of evicting tenants, it generally takes about a month, once the eviction has been filed and depending upon how long the court takes. To discuss further details on when we file and the cost, please schedule a call with us to discuss in detail.
Owner draws can take up to the 15th day of the month following rent collection. However, our Accounting Team works tirelessly to process all owner draws by the end of the first month following rent collection. For more details contact our Investor Relations Manager, Joshua Roberts.
When it comes to purchasing and then managing investment properties, you’ll find that SunCoast Property Management is a well qualified property management company with a successful track record.
SunCoast Property Management was created by investors … for investors.