Frequently Asked Questions

• 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.

• What is your smoking policy?

  We do not allow smoking in any of our properties.

• How do I sign up for property management services?

  Get started by Inquiring About Our Services.

• How do you handle property maintenance?

  Our maintenance specialists oversee the entire repair process from dispatching service vendors for routine maintenance through job completion. We provide 24/7 emergency maintenance response, which gives our owners and residents peace of mind when unexpected emergencies arise.

• How do you screen and select rental applicants?

  Rental applications are processed electronically via a third party screening provider in accordance with applicable law including fair housing guidelines and privacy laws. Screening includes, credit, criminal, sex offender, past eviction, residence history, employment and income verification. Our screening policies are built upon industry standards and best practices.

• How do you show the properties you manage?

  Park Avenue provides showings to our available properties 7 days per week via real estate agents and electronic lock boxes. In each case, no property access is granted without first providing a drivers license to our showing-service provider. This allows our firm to track every person or agent entering a property as well as when they entered.

• How will you advertise my property?

  Our firm sets the standard when it comes to property marketing. We utilize targeted Ad Words, SEO and SEM for all of our websites, ensuring our sites rank highly in searches. Additionally, we combine the power of social media platforms, free and paid (yes, we pay to advertise all of our properties) website syndication services to promote our properties across nearly 100 property-listing sites. By using this marketing strategy we maximize your property’s exposure to prospective tenants, which in turn generates more leads, showings and ultimately causes homes to rent faster. Our clients can sleep well knowing their properties are achieving maximum exposure.

• 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 market, show and screen prospective tenants, prepare the lease and collect the required move-in funds. We will then turn the lease and security deposit over to you and you will assume management responsibilities.

• 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?

  Rent payments are due on the first of each month. To the benefit of our clients, our firm distributes owner draws three times per month. We process payments on the 10th, 15th and 25th of the month. This allows our clients to receive payments timely, despite occasional late paying tenants.

• Do you allow pets?

  Our firm is pet-friendly and many of our homes do allow pets. However, the properties we manage are owned by different homeowners and this answer is ultimately provided by the owner of the home. If there is a specific property that interests you and you would like to inquire whether or not pets are allowed, please make an inquiry by providing the property address, animal type, breed type and quantity to info@parkaveproperties.com.

  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
  • Monthly pet rent $20-$40 per per per month

  
  

  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.