Landlord & Tenant FAQ

Landlord FAQ

What are your Management Fees?

We charge 10% of the contractual rent between you and your tenant plus the first month's rent.

What do Management Fees cover?

A management fee is a retainer fee for the following services we provide:

• Collection of Rent
• Handling Repairs and Service Requests on the Property
• Miscellaneous Administrative Work with Regards to Tenants
• Issuing of Notices and Delinquencies
• Arranging for Rent Court Filing, Warrants and Eviction Notifications
• A Thorough Property Walk-Through Before and After Tenant Placement

If the property needs work can I do it myself or my own preferred contractor?

If you prefer to hire your own contractor, we can bypass all repair calls sent to you directly. Either you or your contractor will schedule repairs directly with the tenant.

Do I get charged management fees for vacant properties?

No, if the property is vacant, we will not charge you a dime in management fees. We stand by our abilities 100% and if your property is not rented, we are not working hard enough. If you're not making money, we're not making money. Period.

Do you charge management fees in the event Tenants are delinquent in their rent payment?

Yes, management fees are not contingent on tenants paying their rent. On occasion, tenants may be late paying their rent. However, they eventually will pay. So, any balance on your account will be satisfied prior to remitting the remaining to your account.

How and when do you send my rents?

Rents are wired via ACH or hard checks, which are mailed around the 10th of every month, provided that rents were received. Both methods of payment become available to you by the 12th of the month.

Do I get charged for any legal fees or court filing on my tenants?

Yes, we charge you and your tenant for Rent Court Filing. Ultimately, tenants pay court filing charges which are passed on to your account. In the event they are evicted, their deposit is transferred to your account.

Do you handle major repairs and renovations?

Yes, we can handle major repairs and complete renovation projects on a turn-key basis.

I prefer my tenants to pay their water bill. How do you handle that?

We generally instruct occupants to pay their bills online. You are able to go online to see if those bills are paid. We cannot monitor those situations, however. You may bring it to our attention if the tenant is delinquent on their bill. At that time, we will invoice the tenant their outstanding bills.

Who happens to the security deposit?

Security Deposits are parked in an escrow account with other deposits and are only disbursed after a detailed walk through and payment of outstanding account balances.

Is there any way my damages on the property can be covered by your management services?

No, we do not cover any damages caused by anyone on your property. Please refer to your insurance company for such coverage.

How informed will I be about what happens with my property?

Our rule of thumb, minus any exceptions, is: if something may cause a potential interruption in your ordinary cash flow (loss of tenant or non-emergency repair in excess of $300), we will let you know about it right away. Other than that, the saying "no news is good news" is most appropriate. Non-emergency items will be communicated along with your monthly statements. Of course, we encourage you to contact the property manager anytime you have a question or wish to discuss something. We know some owners desire a level of involvement that our property management system is not designed to accommodate. However, we try our best to make sure you are a good counterpart for our style of property management. Part of that process is this “Question and Answer” page. We want you to obtain a sense of how we think and how we will manage your investment property. We prefer to deal with property owners that want to relieve themselves of all responsibilities that come with renting their home. We ensure that you won’t hear from us unless you need to. That is the type of property management service we offer.

How soon can you start managing my properties?

We can start the process immediately. We start by obtaining some information about you and your property. Then we help you decide if we are suitable for your needs. Contact us online or call us directly at the office at (727) 943-9500.

Tenant FAQ

What, specifically, do you do to qualify a tenant?

This is the most important aspect of management for rental properties. The application process is processed in-house. In general, we look at an applicant’s history to determine their future residence in our home. An applicant must demonstrate a background of being a good, responsible tenant or homeowner. In addition, credit standards need to be up to par.

LANDLORD REFERENCES – We personally talk to past landlords and ask detailed, open-ended questions about the applicant’s past residency. However, if in some case we are unable to communicate, we may request to do a physical check on your present occupancy.

CREDIT REPORT - We have direct contact with the Citi credit reporting service. We obtain a credit report to inform us of the applicant’s current and past performance toward their financial obligations. In doing so, we’re able to verify their monthly debt, credit score, and verification of their previous residencies. An applicant must meet established credit standards income qualifications to be a candidate.

EMPLOYMENT/INCOME – We contact your employer to verify length of employment, status, and income. An applicant’s monthly gross income must amount to at least 3 times the monthly rent in order to qualify. We require the two most recent pay stubs.

General Repairs and Maintenance

You may Submit a Service Request Online. We are usually able to rectify the issue within 1-3 business days. When emergency issues arise, please contact the office immediately at (727) 943-9500.

Emergency Maintenance

Emergency situations include break-ins, no A/C or heat, no hot water, or busted water lines. We will prioritize your situation and tend to it either the same or next business day. In case of either of these emergency situations, please take the following precautions prior to contacting us:

• Break-In - Dial 911 to report the break-in.
• Busted Water Line - Turn off main valve to the property or the closest valve located near the leak.

Locked Out?

Keys will be provided only to residents named on the lease. Proper ID is required at the time you pick up the key. If you are locked out after office hours, there is a $35.00 fee to arrange to have someone meet you with the key.

What about Safety and Liability?

While your home is unattended, please keep all doors and windows locked at all times. As the tenant, you are responsible for insuring your personal belongings and contents against fire, theft, water damage, and other casualties. Basta Solutions and the property owner assume no liability/obligation for tenants' personal belongings. Renter's insurance is available through most insurance agencies.

Payment of Rent

Rent is due on the first of every month. After the third of the month a 10% late fee will be charged. Any tenant who has not paid their rent in full will be subject to late fees and court action as outlined in the lease. Rent is to be paid in the form of a personal check, money order or cash. You can also pay your rent online using the tenant portal. The tenant portal will soon become the primary method of rent payment. There is a $75.00 charge for each check returned by the bank for nonpayment. Please be aware that a poor rental payment history may affect your credit rating.

Notice of Leaving

If you do not intend to renew your lease, please notify our office in writing within sixty days of your lease ending. Remember to follow the directions on your security deposit agreement to insure timely release of your security deposit.

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