Tech Valley's Full Service Real Estate Team
20 Aviation Road Albany, NY 12205 Phone: (518) 320-8008 Mobile: (518) 669-2633 Fax: (518) 489-3507 Email The Capital Team

FAQ's (Frequently Asked Questions)


 

 

In what areas do you manage property?

Are you a member of the Multiple Listing Service (MLS)?

Do you charge me anything up front?

How much money do you keep?

Do you run a credit check ?

Are you licensed to sell real estate?

What bills do you pay?

Do I have to pay for any utilities?

Where does the money go when you collect?

I live out of the area, do I have to come in to your office?

Will you mail the money to me?

What if the tenant doesn't pay on time, I still have a mortgage to pay?

How do you handle evictions?

If there is an eviction, do I have to be there?

What if something breaks, do you fix it?

At what point do you call me for expenses?

What do you do when someone moves out?

What information do I get at the end of the year for taxes?

Will the property be advertised?

How often will you drive by my property?

I prefer not renting to people with children.

Can I choose to rent to non-smokers only?

Do I have to rent to people with pets?

What are your fees?

Do you offer a discount if I have more than one property?

OK, I like what I see, what is the next step?

  
  
  
  
  

In what areas do you manage property?

 

The Capital Region.

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Are you a member of the Multiple Listing Service (MLS)?

 

Yes, I am a member of the Conejo Valley Multiple Listing Service which uses the date base for the San Fernando Valley.

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Do you charge me anything up front?

 

Not unless your unit needs work and you want Property Management Realty to pay for the work on your behalf.

TOP

  

How much money do you keep?

 

I usually keep just what is needed to replace a water heater in my trust account, or about $500.00.  Some landlords want me to keep the security deposit, so when the tenant vacates, they do not have come up with the money.  Some landlords want a check at the end of the year for Christmas shopping. It is your money,you tell me what you want.

TOP

  

Do you run a credit check ?

 

Yes

TOP

  

Are you licensed to sell real estate?

 

Yes, I am a licensed real estate broker.  I sell property for my landlords, as well as do 1031 exchanges and work as a buyer’s agent.

TOP

  

What bills do you pay?

 

Property Management Realty will pay any bills that you want paid that pertain to the property.  Mortgage, HOA, pool, gardener, taxes, insurance.  As the owner Property Management Realty suggests you maintain as much control over your property as you feel is appropriate, (mortgage, taxes).

TOP

  

Do I have to pay for any utilities?

 

When your unit becomes vacant Property Management Realty will put the utilities in your name C/O Property Management Realty and the bills will be mailed to my office.  The accounting is paid through the Property Management Realty trust account.

TOP

  

Where does the money go when you collect?

 

All money collected is put into a TRUST ACCOUNT.  This account is one checkbook, separated from Property Management Realty’s personal account.

TOP

  

I live out of the area, do I have to come in to your office?

 

No, with FAX, e-mail, and U.S. mail, the needed paper work can be exchanged with out any problem.

TOP

  

Will you mail the money to me?

 

From your trust account, money can be forwarded to you monthly or when and where you want it.

TOP

  

What if the tenant doesn't pay on time, I still have a mortgage to pay?

 

Yes.

TOP

  

How do you handle evictions?

 

When an eviction comes up, I serve the 3 day to pay or quit, if that does not work, I turn the file over to one of two eviction attorneys.

TOP

  

If there is an eviction, do I have to be there?

 

No, as your Property Manager, I have the authority to go to court on your behalf.

TOP

  

What if something breaks, do you fix it?

 

My responsibility is to manage the financial interest of your property.  I will hire out for repair work when you need help but I do not do “maintenance” work myself.

TOP

  

At what point do you call me for expenses?

 

When you set up your rental with Property Management Realty, you set the amount of money that can be spent without calling you each time.  If unexpected damage occurs, and therefore expenses are above the approved amount, you will receive an email or phone call authorizing the purchase.

TOP

  

What do you do when someone moves out?

 

If the property is under Property Management control, I inspect the property for damages, repay the security deposit, order on the utilities, contact the needed vendors to get what is needed repaired, or painted. Oversee the vendors, pay the vendors, at the right time, start advertising for a new tenant. Or if the owner wants to sell, put it on the market for sale.

TOP

  

What information do I get at the end of the year for taxes?

 

TOP

Each month The Capital Team, LLC will mail you a report showing a total of the moneys that came in, and a total of the moneys paid out.
  

Will the property be advertised?

 

Yes, it will be advertised in the Conejo Valley MLS and flyers are made and sent out to the Conejo Valley Real Estate agents.

I will also run an ad in the Ventura County Star classifieds and on the Internet.

TOP

  

How often will you drive by my property?

 

As a general rule, I stop by the property every other month.

TOP

  

I prefer not renting to people with children.

 

You can only deny renting to a family with children if your property is in a development for senior citizens age 55+ and is written in the CC&Rs.

TOP

  

Can I choose to rent to non-smokers only?

 

Yes

TOP

  

Do I have to rent to people with pets?

 

No

TOP

  

What are your fees?

 

There are two basic fees, one is to find a tenant; the other is the monthly charge to manage the unit.

TOP

  

Do you offer a discount if I have more than one property?

 

Sometimes

TOP

  

OK, I like what I see, what is the next step?

 

E-mail me, FAX me, or call.  I will need the address, if the unit is vacant, or not.  I will need to see the unit, so that I can see what needs to be done. If the unit is occupied, I will need a letter from you to introduce Property Management Realty to your tenant so that I can see unit.  Once I have seen the unit, I can speak more in depth regarding the next step.  Once I have some feeling of what you want done, I will get the paperwork to you.

TOP


FAQ's (Frequently Asked Questions)


 
  
  
  
  
  
In what areas do you manage property?
 
The Capital District
  
Are you a member of the Multiple Listing Service (MLS)?
 
Yes, we are members of the Capital Region Multiple Listing Service.
  
Do you charge me anything up front?
 
Not unless your unit needs work and you want The Capital Team, LLC to pay for the work on your behalf.
  
How much money do you keep?
 
We usually keep just what is needed to replace a water heater in our trust account, or about $500.00.  Some landlords want us to keep the security deposit, so when the tenant vacates, they do not have come up with the money.  Some landlords want a check at the end of the year for Christmas shopping. It is your money,you tell us what you want.
  
Do you run a credit check ?
 
Yes
  
Are you licensed to sell real estate?
 
Yes, we are licensed real estate associate brokers.  We sell properties for our landlords, as well as do 1031 exchanges and work as a buyer’s agent.
  
What bills do you pay?
 
The Capital Team, LLC will pay any bills that you want paid that pertain to the property.  Mortgage, HOA, pool, gardener, taxes, insurance.  As the owner The Capital Team, LLC suggests you maintain as much control over your property as you feel is appropriate, (mortgage, taxes).
  
Do I have to pay for any utilities?
 
When your unit becomes vacant The Capital Team, LLC will put the utilities in your name C/O The Capital Team, LLC and the bills will be mailed to our office.  The accounting is paid through The Capital Team, LLC trust account.
  
Where does the money go when you collect?
 
All money collected is put into a TRUST ACCOUNT.  This account is one checkbook, separated from The Capital Team, LLC's personal account.
  
I live out of the area, do I have to come in to your office?
 
No, with FAX, e-mail, and U.S. mail, the needed paper work can be exchanged with out any problem.
  
Will you mail the money to me?
 
From your trust account, money can be forwarded to you monthly or when and where you want it.
  
What if the tenant doesn't pay on time, I still have a mortgage to pay?
 
Yes.
  
How do you handle evictions?
 
When an eviction comes up, we serve the 3 day to pay or quit, if that does not work, we turn the file over to an eviction attorney.
  
If there is an eviction, do I have to be there?
 
No, as your Property Manager, we have the authority to go to court on your behalf.
  
What if something breaks, do you fix it?
 
Our responsibility is to manage the financial interest of your property.  We will hire out for repair work when you need help but we do not do “maintenance” work ourselves.
  
At what point do you call me for expenses?
 
When you set up your rental with The Capital Team, LLC, you set the amount of money that can be spent without calling you each time.  If unexpected damage occurs, and therefore expenses are above the approved amount, you will receive an email or phone call authorizing the purchase.
  
What do you do when someone moves out?
 
If the property is under The Capital Team, LLC's control, we inspect the property for damages, repay the security deposit, order on the utilities, contact the needed vendors to get what is needed repaired, or painted. Oversee the vendors, pay the vendors, at the right time, start advertising for a new tenant. Or if the owner wants to sell, put it on the market for sale.
  
What information do I get at the end of the year for taxes?
 
Each month The Capital Team, LLC will mail you a report showing a total of the moneys that came in, and a total of the moneys paid out.
  
Will the property be advertised?
 
Yes, it will be advertised in the Capital Region MLS and flyers are made and sent out to the Capital Region Real Estate agents.
We may also run an ad in the Times Union, Schenectady Gazette or Troy Record classifieds and on the Internet.
  
How often will you drive by my property?
 
As a general rule, we stop by the property every other month.
  
I prefer not renting to people with children.
 
You can only deny renting to a family with children if your property is in a development for senior citizens age 55+ and is written in the CC&Rs.
  
Can I choose to rent to non-smokers only?
 
Yes
  
Do I have to rent to people with pets?
 
No
  
What are your fees?
 
There are two basic fees, one is to find a tenant; the other is the monthly charge to manage the unit.
  
Do you offer a discount if I have more than one property?
 
Sometimes
  
OK, I like what I see, what is the next step?
 
E-mail us, FAX us, or call.  We will need the address, if the unit is vacant, or not.  We will need to see the unit, so that we can see what needs to be done. If the unit is occupied, we will need a letter from you to introduce The Capital Team to your tenant so that we can see the unit.  Once we have seen the unit, we can speak more in depth regarding the next step.  Once we have some feeling of what you want done, we will get the paperwork to you.