FREQUENTLY ASKED QUESTIONS:
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|VIEW OUR MANAGEMENT AGREEMENT
|VIEW OUR FEE STRUCTURE
Why should I use Team Rein to manage my property?
NYS law requires that property managers who are handling money for others be licensed as real estate brokers. Team Rein goes one step further and requires that all our employees dealing with you and your tenants in a fiduciary position also be licensed property managers and hold a valid NYS real estate license or be enrolled in a program that will result in their being licensed. In New York State, all tenants are protected by the Office of the Attorney General. Team Rein ensures that your tenants’ rights are observed and protected mitigating your liability and damage brought about by negligence or ignorance of the law.
Why should I use Team Rein to perform my maintenance?
Team Rein employees engaged in the position of maintenance technicians are fully insured by the workers compensation and liability policies carried by Team Rein. We pay the unemployment taxes and other payroll taxes out of our hourly fee so you don’t have to worry about someone being hurt while working on your property. All of our technicians are certified lead abatement personnel having completed the course sponsored by the Broome County Department of Health and the EPA.
What are the fees for services?
Fees vary depending on the number of units you own and we manage for you. We do not charge any fee to oversee vacant units that are up for lease or undergoing preparation for new tenancy. The sample management agreement gives you a good idea what to expect in the way of fees
I like doing maintenance work- can I continue to do my own work and have Team Rein just do the management?
As long as your workmanship complies with local codes you are welcome to do your> own work, provided that you are receiving the maintenance requests directly from the tenants. If we get the call, we do the work.
Can I put a limit on how much work can be done without my approval?
Yes, we can notify you before we undertake any work that will exceed $500.00. > Repairs that are required less than that amount will generally be done although we are always happy to report to you on the status of affairs, or give you a heads up whenever practicable before beginning the work.
Will Team Rein oversee contract workers that I hire to do specific work?
Yes, provided that the workers are insured / licensed as needed. Depending on the scope of the work there may charges for time our people spend coordinating the job and assisting the contractor.
Do I get charged every time a tenant calls Team Rein?
No. Because of the way our maintenance team is structured, we often have people throughout the valley. When a call comes in to the property manager, he / she determine if a response is necessary immediately or at all. If the situation warrants a maintenance person, then one is dispatched as needed. If, upon being dispatched on the call, no action is taken on the part of the maintenance personnel, no charge is generated, although you may see an invoice detailing what took place with a 1 cent charge.
If a tenant calls after hours for things that aren’t emergencies, am I billed for that?
Maintenance personnel are trained to question the tenant in order to determine if a call out is needed or not. If they determine that it is not, then the call is reported to the property manager in the morning for handling and there is no charge to you for the call. If Police, Fire or Emergency Services personnel request a person on the scene, we respond as directed and you are billed.
When can I expect to get my money each month?
Team rein manages your units on a “fiscal month” which starts on the 15th of the previous month and ends on the 14th of the following month. After the 14th we close the book on the “disbursement period” and do an accounting of all income and expenditures that occurred during the period. This process takes anywhere from a week to ten days, and the money is sent out to the client no later than the 30th of the month. Clients taking advantage of the internet based disbursement get their money faster because it is placed directly into their account and the reports are e-mailed to them. Look at a sample disbursement report to see what types of reports you will be getting each month.
Why does it take until the 15th before you begin to send me my money?
Because of the dynamics of the business, a maintenance issue can arise at any time and there is a limit to how much Team Rein is able to extend to our clients in the way of maintenance supplies and services. By bridging the disbursement over two months, we are able to balance income and expenses and cover most issues in this manner.
Is there any way that I can have money deposited directly into my account and just pay you when the work is needed?
Team Rein does have a secured credit arrangement whereby you deposit money into your account with us, giving you a credit balance, and we deposit your rents directly into your local account as they come in. Each month you receive a normal disbursement report and send us an amount equal to the management and mainte3naqnce charges you incur.
Who pays for tenant damage and what if a tenant check bounces?
As your agent, we do the very best we can do to ensure that good tenants are placed in your unit, and that the rents are collected from them when due. We cannot guarantee the actions of tenants, however. Our standard lease agreement is based on 30 years of experience in dealing with not only tenants but the courts as well and contains many provisions designed to limit your liability and your damages. You as the owner are ultimately the one that will suffer from the results of a bad tenant.
Are there annual reports?
An annual report is not generated unless you want to pay us to prepare one. Generally, you should be saving your monthly reports and giving them to your account for preparation of taxes and so forth.
Are Team Rein owned properties handled differently than my property and how do I know that tenants interested in my property aren’t being placed in a Team Rein property instead?
All vacant units are placed on an available units list in our computer. As people call in they are informed about the vacant units based on where they want to live and what type of unit they want to live in. Ultimately, the tenant will choose where he or she wishes to live.