Roost Realty

Owner FAQ

Roost Realty provides all our property owners with a portal login to our property management software system. This allows the owners to perform such actions as leave messages, make contributions to their escrow account and view account reports.
Many tenants have or would like to have pets and it is up to you to decide to allow them in your rental property. There are pros and cons to allowing pets, however in our experience,we have found that the pool of renters is expanded when you have a pro pet policy. In a 2014 survey conducted by Apartments.com, 72% of renters were also pet owners. If you do decide to allow pets, we have policies in place to protect your home including renter paid pet deposits, requiring proof of renter’s insurance with liability coverage and current pet vaccination records.
We process rent via ACH processing. (ACH processing is an electronic payment delivery system which processed electronically originated credit and debit transfers for institutions nationwide). After funds are cleared, we direct deposit the money into a bank account of your choosing. This process takes several days so rent proceeds are typically received into the owners account between the 5th-10th of the month.
Roost Realty will hold the security deposit on behalf of the tenant until the tenant moves out. These funds are held in an trust account that is registered with the Georgia Real Estate Commission. Once the tenant has vacated the property, we will perform the move out inspection and hold back any monies needed to repair any damages caused by the tenant. Monies cannot be withheld for normal wear and tear of the property.
Roost Realty typically holds a $300 repair escrow account for all properties that we manage. This money is held on your behalf and helps cover any small repair items that may come up during the rental period. This account is held in a trust account and will be replenished as necessary after the next rent payment is collected.
Roost Realty does not manage properties with existing home warranties. We have spent extensive time and energy finding and vetting the best service vendors in the Atlanta area. We require a high level of responsiveness, customer service and skill before we entrust the reputation of our company and your reputation as a landlord to a vendor. The relationship that we have established with our repair vendors have allowed us to control how our managed properties and tenants are treated. Timely response to property repairs are the most important way to keep your tenant happy and is typically the highest measure by which a tenant judges a landlord. Having the highest quality vendors that respond to issues in a timely manner is just another way in which Roost Realty relieves the property management burden for our homeowners. However, we do recommend considering an annual contract with a reputable HVAC company that provides Spring and Fall checkups for your HVAC system.
We provide your tenant with a portal login to our property management software so they can place maintenance requests. Once the request has been logged into our system, you will receive notification of the request via email. Unless the maintenance issue is of an extensive nature, Roost Realty will take care of the repair without further notification to the owner. The coordination for any maintenance issue is included in the monthly management fee paid by the property owner and we do not add any additional mark ups or fees.
We are happy to work with maintenance service providers of your choice provided they complete our vendor information form and meet our vendor requirements. If however, your preferred vendor does not respond within an appropriate amount of time, the work order will be reassigned. All vendors must be licensed and insured for the specific type of service they provide.
The majority of repairs invoiced can be can be paid from your Repair Escrow account and your rental proceeds. Deductions are made from your reserve account and replenished from the tenants rent. We then disburse the remaining rental funds to you. Should a more extensive repair be required, we will contact you to discuss how you would like to handle the payment. Some owners prefer to pay large invoices directly, while others prefer to funnel all payments through Roost Realty so that it will show up on their annual reports. The property owner can also log into the Owner Portal and make a contribution to their reserve account.
The Tenant Procurement Fee is also known as the Leasing Fee. This fee is charged in order to find a qualified tenant for your rental property. Roost Realty will do all the marketing for your rental home including photographing the property and making sure it is syndicated across all major internet rental property sites. We will answer all calls about our home, make appointments to show your home and then walk prospective tenants through the rental application process. This also includes vetting the prospective tenant and collecting any required deposits.
The Management Fee is charged monthly to the property owner and it covers the day to day handling of your account from the time your tenant moves in until they vacate the property.
We are not big fans of “nickel and diming” our clients for every little thing. Most of our owners are only charged fees for property management or tenant procurement. Since we specialize in managing in-town Atlanta properties and we are regularly in most of these neighborhoods, we do not need to charge trip fees or any other additional fees to manage your home. Infrequently, an owner may have a special request or need that might require additional work outside the normal scope of the management agreement. In that instance, a reasonable fee may be charged to the homeowner.
The first step is to contact our office so we can get you into our system. We will then schedule a brief tour of your home. After the home inspection, you will need to fill out some paperwork that includes property and insurance information, a management agreement and a W9.
Roost Realty and all property management companies that collect rent on behalf of others, is federally required to file Form 1099 for their clients who have received in excess of $600 in rental income throughout the year. In addition, copies of this completed form must be provided to the IRS. The IRS compares the payments shown on the information returns with each recipient’s income tax returns to determine whether the payments were properly reported as income.
As a property management company, we have always had to issue 1099s to vendors. As of January 2011, the IRS started requiring landlords to send a 1099 to any service provider that was paid $600 or more during the year. As an example, this would include plumbers, carpenters, landscapers and any other applicable service providers. If Roost Realty pays the vendor directly, then we will be responsible for issuing the 1099 on your behalf thus relieving you of that additional burden.
As the property owner, you are responsible for paying your mortgage, property taxes and insurance. If you have any service contracts, for example pest control or HVAC, you can continue to pay the directly or Roost Realty can take over making those payments for you from your rent proceeds.
We want good tenants just as much as you do and we take every step to make sure we obtain one for your property. Tenants must complete an online application and all information is verified via a third party service. We require tenants to submit; A) A copy of their driver’s license. B) Paycheck stubs, other proof of employment or proof of income. C) Landlord reference. We also obtain for the prospective tenant permission to perform a nationwide criminal background check, nationwide eviction check and credit report.
One of the advantages of using Roost Realty to manage your rental property, is that we are already very familiar with the neighborhood where your rental is located. We will do an in depth market analysis to determine the most competitive rental price for your property.
Roost Realty is happy to take over the management of a currently rented home. You will first need to provide us with copies of the current lease, move-in inspection and home owners insurance for your property. Then, you simply pay a new account fee and the monthly management fee and you are all set!
We could go “on and on” about what to do to get your property move -in ready but it can be summed up pretty easily: the property needs to be clean, in good repair and have strong curb appeal. Look at your rental with a critical eye and ask yourself if you would wan to live there? Further detailed ideas on how to get your property rent ready are listed in our Owner’s Handbook.
If the tenant has not paid the rent by the 3rd of the month, a late fee of $50 is assessed. If the rent has still not been paid by the 7th of the month, the tenant will then incur an additional fee that will make the total due 10% of the rent. Lack of payment by the 10th of the month initiates the eviction process.
A security deposit is paid by your tenant upon initiation of the lease. This security deposit covers any damages caused by the tenant that is not related to normal wear and tear.
Roost Realty