Owner FAQs
Answers to your frequently asked questions
There are several factors that play into how quickly a property rents. First, is the property vacant or occupied. Vacant properties tend to rent sooner than occupied properties. Second, is the condition of the property. When a property is clean, painted and ready for the next occupant, it is a lot easier to visualize oneself in the home. Third, is market demand. Currently, the rental market is hot, therefore the average days on market is about 25. Some homes rent within 72 hours of coming on the market while others take 30-days to rent.
Yes, we are licensed by the Department of Real Estate.
As your property management company, we handle all the lease preparation and execution. We will send you a signed copy of the lease for your records.
Residents can remit payment in several ways including CashPay at designated locations, online payments, or via cashier’s check or money order.
Our leases are typically 12 months in length. Occasionally, we will have a resident that needs a 6-month lease, however, we will contact you first.
We can start managing your property as soon as you sign the contract. Start to finish, the process takes about 48-business hours
We specialize in single-family homes, condos, multifamily & retail
You can access your account 24/7 via your online portal. In your portal you will find the monthly newsletter, your accounting statement, any violations that may have been issued to your resident, and more.
We require all the keys, at least two sets of them, at the initial inspection. We also recommend that you keep a set of keys as well. Once the property is leased, we will keep one set at our office. If the tenant decides to “re-key” the property for their personal security, it is done at their expense and they must provide two sets of the keys to us. We will then forward you one set. If the property is in a homeowner’s association with community features that require a key, this must be provided to the tenant as well. It is commonplace for a key to a community pool to be “do not duplicate” in which case we would collect a key fee as well.
Many of our owners are out of the area and even live out of state. You can mail your keys and documentation to our main operations office. If you don’t feel comfortable mailing your keys, you may leave them with a neighbor or friend.
Once we have a fully executed contract, keys, and taken the photos, we are ready to go. If there is a tenant in the property, we will work out showing instructions with them. It is ideal if the property is vacant. Most prospective tenants are looking for a property 3 to 4 weeks before their lease expires or living arrangements change, so we recommend having the property on the market 3 to 4 weeks before it can be occupied by a new tenant
For most of our rentals, we use the MLS to receive maximum exposure. This fee is included in your management fee or as part of the tenant acquisition fee. If an owner requests we spend additional money marketing, for example, paid advertising in Rent.com, that fee would be passed on to the owner.
We have a sister company, First Home real estate LLC , that can handle small jobs on your property. We find that outside handymen pursue the biggest jobs first, and in good economic times, cherry pick their job requests. First home is priced competitively, can be there quickly, guarantees their work, and will always provide an estimate before commencing with any work.
Rent is due between the 1st and the 5th of the month. Once the rent is received in our office, we process it as soon as possible and send it to you electronically.
Yes, we can! You will receive your money as soon as possible after we receive the rent from the resident no later than 15th of the month.
We charge 1 month of the rent as the security deposit. We always discuss with you in case we need to lower the security deposit for certain property types.
Management company holds the security deposit as long as we manage the property in a non-interest-bearing trust account. Upon the resident moving out, we will disperse the deposit based on the condition of the property.
Your tenant will pay a monthly lease to you. We charge a few fees to the tenants in certain circumstances:
Application Fee – Every adult intending to reside in your property will pay a application fee. Generally, this fee is about $50 per applicant to run their credit check, background check etc. Upon request, they are given this report which they can use for other properties should they be denied on your property.
Initial Lease Administration Fee – The fee to process the rental application, execute the contract and conduct the move-in is $100.
Tenant Legal Liability Fee – We require every tenant to have liability insurance or renter’s insurance. If they opt for our third-party tenant liability insurance, they will pay a monthly or yearly renter’s insurance fee.
Lease Renewal Fee – Should you decide to renew a lease, we charge the tenant $100 to inspect the property, negotiate the new terms and execute a lease addendum.
Tenant Replacement Fee – If the tenants want to replace one roommate or tenant with another, we require the new tenant to apply and qualify. If they qualify, we will amend the original lease and charge the old tenant a $250 fee for the additional work.
We offer a Rental Guarantee under our Premium as well as Premium Plus plan.
Rented in 30 days guarantee – We will place a qualified tenant within the first 30 days of being listed on the market, otherwise your first month’s management fee is waived. This only applies if the property is listed for the lease rate we recommend.
We use a Tenant Screening and Verification System and look for the following: verifiable income at least 3 times the monthly rent, previous rental history, a criminal background check, and we look at their credit. We are not looking for perfect credit, but a credit history without numerous collection accounts, recent late payments, or many credit cards with high limits.
Areas We Serve
San Bernardino
Chino
Chino Hills
Fontana
Ontario
Rancho Cucamonga
Rialto
San Antonio Heights
Upland
orange County
Anaheim
Brea
Buena Park
Cypress
Fullerton
La Habra
La Palma
North Tustin
Orange
Placentia
Santa Ana
Tustin
Villa Park
Los Angeles
Azusa
Cerritos
Claremont
Covina
Diamond Bar
Glendora
Hacienda Heights
Industry
La Mirada
La Puente
Rowland Heights
San Dimas
Walnut
West Covina
contact
2135 S State College Blvd. #200 Brea, CA 92821
info@primepropertymanagement.org
DRE #02246511
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