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Owners FAQs

Can the owner charge extra for pets, or not allow pets?

Yes, if you allow pets they are extra. Typically, between $250 – $500 per pet is added to the security deposit for pets. In addition, a monthly pet rent can be charged between $50 to $100, but the security deposit may not exceed two times the rent for unfurnished or three times the rent for furnished.

Can the owner use their own maintenance person, contractor, or handyman?

The owner can choose any tradesperson they wish to perform repairs on their property. However, if the repair requires a building permit it is Parks Properties’ advice that the owner only use licensed, insured and qualified contractors. If the owner chooses to use unlicensed people Parks Properties will issue a notice to the owner regarding the potential risks of this course of conduct.

Does Parks Properties inspect completed work?

Yes. However, some landscaping projects, minor leaks, and other minor repairs will not be inspected if the contractor is reputable and provides digital photographs of the work performed. These small projects will typically be inspected when Parks Properties is getting the property ready to market the property for rent, showing or preforming it’s bi-annual inspections.

Does Parks Properties obtain more than one bid for work?

Parks Properties obtains competitive bids for all work, unless it is minor maintenance under $250. Excessive requests by owners for more than three bids for work will result in a service charge for Parks Properties’ time in obtaining the bids. Parks Properties’ best judgment will be used during these situations and sometimes less than three bids will be obtained if it is determined that the bids received and fair and competitive for the work required.

Does Parks Properties provide a property condition report?

Yes, Parks Properties provides a move-in & move-out condition report, complete with photos and damage description (if any). Bi-annual inspections are also done and kept in file and made available through the owner’s portal.

Does Parks Properties require owners to maintain a balance in their accounts for maintenance charges or miscellaneous expenses?

Yes. Parks Properties requires a $250 balance in the owner’s account to pay for minor maintenance and miscellaneous expenses. If owner has more than 1 unit then each additional unit will have an additional $100 add. So a Duplex would require $350 reserve balance.

Does the owner get copies of receipts for work completed?

Yes. All receipts and invoices will be included in the monthly invoices and/or reports sent to owner. A copy will also be included in the owner’s portal.

Does the owner get to see the rental application and credit report?

Yes. As an agent for the owner, Parks Properties has permission from the tenant to evaluate the private information they are giving in return for being considered for a unit. The owner’s portal will keep records of any and all documents submitted during the screening process.

How does Parks Properties notify residents that we are contributing their rental payment information to Experian RentBureau?

The FCRA does not require that property management companies have specific verbiage on their leases. It is Parks Properties company policy to notify the lessee on our Lease Addendum which is signed and initialed next to this statement “Parks Properties may report rental payment data to credit agencies”.

How does Parks Properties screen tenant applicants?

Parks Properties utilizes a sophisticated software investigatory system to prepare a report which evaluates credit history, past evictions, and criminal records. We also verify employment, income utilizing the applicant’s most recent two pay stubs and last years W-2. The tenant pays for cost incurred for the screening report by Parks Properties.

The prospective tenants also have to fill out and return top portion of the following documents.

How much is the maximum security deposit?

Parks Properties can charge up to twice the monthly rent for unfurnished units, or 2-1/2 times for unfurnished units with a waterbed, and three times the rent for furnished units or 3-1/2 times for furnished units with waterbeds. California Civil Code Section 1950.5.

How often are inspections done?

Parks Properties offers biannual preventative maintenance inspection conducted by our staff. Parks Properties will also conduct inspections upon request of the tenant, upon the receipt of a complaint, upon the notice from a vendor, upon notice of a continued maintenance request or condition, upon a 30-day or 60-day notice to vacate, and move-in / move-out inspections. If Parks Properties has placed the owner on notice of problems and the owner refuses to repair or maintain areas of the property that require constant observation Parks Properties reserves the right to bill owner for repeated visits and/or inspections of the property.

Is it legal to contribute rent payment information for my tenants to Experian RentBureau?

Experian RentBureau has done extensive legal analysis on this topic and determined that a property management company owns the legal rights to tenant payment data and therefore have the right to contribute their data to a credit reporting agency.

What are the Benefits of Rent Bureau?
  • Improve bad-debt recovery – Report write off/bad-debt balances to prevent from getting a new lease at another property without satisfying their debt obligation with Parks Properties
  • Reduces skips – Provide lease begin and end dates to help identify those applicants who are in an existing lease and attempting to skip
  • Allow residents to establish or rebuild credit – Contribute both positive rental payment data to enable your residents to apply and qualify for credit accounts
  • Increase occupancy – Share your data to attract more applicants who are interested in building their credit through continuous on-time rental payments
  • Encourage on-time payments – Report your residents’ rental histories to create a meaningful credit incentive for them to pay on-time
  • Adhere to Fair Housing requirements – Automatically transmit data directly from our platform to reduce human intervention and eliminate the risk of providing subjective biased data
What can security deposits be used for at the end of the tenancy?

California Civil Code Section 1950.5 specifies that a tenant’s security deposit may be used for 1) unpaid rent, 2) offsets for repairs or damage caused by the tenant or tenant’s guests, 3) for cleaning the unit to a state identical to when tenant took possession, and 4) cost to repair or replace of the month Parks Properties will issue a courtesy furnishings or keys if agreed to at inception of lease. California Civil Code Section 1950.5(b); California Civil Code Section 1950.5(b)(e).

What forms does an owner need to fill out to get started?

Parks Properties will provide the owner with a Property Management Agreement to get started. During the course of the agreement the owner will be provided with various forms including a “Move-In/Move-Out Inspection,” “Residential Lease,” “Lead-Based Paint Disclosure Addendum,” and “Smoke Detector and Carbon Monoxide Detector Addendum.”

What happens during an emergency condition?

Parks Properties is on call 24-hours for emergencies. During business hours Parks Properties will send a vendor out immediately. If after hours the tenant’s call will go to a 24-hour call service. After assessing the emergency condition, action will be taken either immediately or early the next morning if not life threatening.

What happens if the tenant is late with rent or doesn’t pay rent?

If a tenant hasn’t paid by the 3rd call, an email notification, and a written letter via US mail. There is also a late fee charged at this time of typically 5% of outstanding balance. California Code of Civil Procedure Section 1161(2)-(4). If the tenant doesn’t respond with a payment or a valid, legal excuse by the 5th of the month, a three-day notice to pay or vacate will be issued and the eviction process will begin. Parks Properties will also notify the tenant that Parks Properties intends to report the late payment to a national credit bureau. Parks Properties intends to report negative credit information to a credit bureau and will disclose this policy to the tenant. Parks Properties will also notify the tenant of its intent before or within 30 days after reporting the negative payment history. California Code of Civil Procedure Section 1161(2)-(4); California Civil Procedure Section 1785.26.

What happens if we make a mistake and provide incorrect payment history data to Exerpian RentBureau?

Parks Properties will correct the information as soon as possible. Any corrected data is automatically sent to RentBureau from our platform and the residents payment history will then be automatically sent and updated accordingly.

What happens when major work is required on the property?

Maintenance required to turn over a unit (i.e., get it ready for rent to new tenant) is charged at Parks Properties’s cost. This typically includes minor handyman’s work, paint touch up, caulking, cleaning, etc. Outside vendors that are hired to repair major systems like roof replacement, exterior and interior painting, major remodeling, major plumbing or electrical replacement or installation require a 5% markup which will be added to vendor’s bid and paid by the owner for project management services.

What Happens When the Tenant Doesn’t Pay Rent On Time?

Rent from all residents is due in Parks Properties’ office on the 1st day of each month. If rent is not received by the 5th of the month, the tenant is contacted immediately and follow-up with a letter correspondence issued the same day. If rent is not received at the notification, we serve the tenant with a 3-Day Notice to Pay Rent or Quit. The final step is to begin the eviction process through the proper legal channels.

What if the tenant or tenant guests causes damage?

If damage to the property can be proved against the tenant or their guests the owner is within their rights to withhold the cost to repair and/or replace the damage from the tenant’s security deposit. California Civil Code Section 1950.5(b)(3).

What is the current law regarding giving notices to tenants to vacate?

California Civil Code Section requires a 30-day notice to vacate if the tenant has been in the property less than one year and a 60-day notice if more than one year. A 90-day notice is required if the tenant has a Section 8 Housing Voucher. California Civil Code Section 1946.

What payment methods are accepted?

Parks Properties allows a variety of payment methods. We require with all new leases commit to paying online with their checking or savings account. This is done through the residences portal and all secure using bank/PCI compliance protocols.

 

We do not allow check payments currently and will be charging a violation fee of $10 per check received for payment of account balance.

 

Please review the attached documents for all your payment options.

 

 

What will the tradeline look like on my credit?

Tradeline Sample

Which parties sign the lease agreement?

Parks Properties signs the lease as an agent for the owner as this is the most expedient procedure. The owner will receive a copy of the fully executed lease and a copy will be retained in the owner’s portal which is accessible online 24/7.

Who chooses the tenant?

Parks Properties selects the most qualified tenant in an effort to strictly comply with Fair Housing Laws. This process is designed to help prevent potential problems for owners. Parks Properties works with the owner to identify and present the most qualified tenants, but Parks Properties has the final say. If an owner refuses to approve any applicant because of bias or discrimination we will be forced to cancel our property management agreement.

Government Code Sections 12926(p), 12927(e), 12955(a),(d). See Fair Employment and Housing Act, Government Code Section 12900 and following; Federal Fair Housing Act, 42 United States Code Section 3601 and following.

Who decides maintenance cost controls? What about emergencies?

If maintenance issues arise Parks Properties will delegate repairs up to $250 without consent of the owner. If the repair is over $250 the owner will be contacted and Parks Properties will obtain bids before a decision is made regarding the repair. In the event of an emergency all attempts to contact the owner will be made, however to prevent injury to person or property an emergency repair will be made to mitigate damages with expediency.

Who determines the rental rate?

Parks Properties determines the “present” going market rental rate based on comparable rentals in the neighborhood and surrounding marketplace. Parks Properties will consult with the owner to collaborate and will use owner’s recommendation if owner insists. When the rental rate is competitive there will be many applicants and a quick rental agreement. If not, the property may sit for a while.

Who holds the Security Deposit during the tenancy?

Parks Properties holds the security deposit in a separate trust account as mandated by law. If directed, Parks Properties will forward funds to the property owner for holding. Property owners must never use these funds for covering expenses of running the property, doing so will be a direct violation of the law. We recommend leaving them with Parks Properties.

Who returns the security deposit and when?

The California Civil Code 1950.5 dictates the California law regarding requirements and returns of security deposits. Parks Properties will follow the letter of the law with regard to tenant rights, landlord rights, landlord obligations, and course of conduct. Generally, a security deposit must be returned within 21 days after a tenant has vacated a property. The amount returned may reflect deductions for cleaning, repairs, unpaid rent, or damage to furnishings after the tenant has been given the statutory warnings and notices regarding their ability to rectify those issues. California Civil Code Section 1950.5(g)(1); See also http://housing.ucsc.edu/cro/pdf/CCC_security-deposits.pdf.