Owner Resources

Frequently Asked Questions

• Do you have electronic and automated systems set up? E.g., online portal.

  Yes, not only do our owners each have access to an online portal, so do our residents. This makes things like document signing, fund transfers, maintenance requests, and owner statements so much easier and transparent between all parties.

• Who holds the security deposits?

  We hold onto all security deposits on the resident’s behalf. We hold these in a dedicated trust account as required by law. At the time of move out we will assess the home for any damages or cleaning fees and disburse the remaining funds back to the resident as necessary within the mandated timeframe for our state.

• What is your philosophy on repairs and replacement? Do you try to find the least expensive solution or do you prefer a more expensive option to create a repair or replacement will last?

  We have found in our professional experience that it is best to use mid-level parts for our repairs. We found that using the least expensive products led to the item ultimately costing more with more frequent replacement. However, we assess each situation and make sure any repairs being made make sense to both save cost and protect the asset.

• During the pandemic, how successful have you been at rental collection?

  While there have been moratoriums in place that have allowed some residents in hardship to delay their rent payments, we have stayed on top of all government regulations and guidelines so that we can be as proactive and informative as possible with all our clients and customers.

• When do you suggest that I have an occupied property evaluation performed by your office?

  We suggest an occupied property evaluation be performed every 6 months at a minimum to verify the condition of the property. This provides a proactive approach so that we can catch any potential issues before they turn into more costly repairs.

• Does your office solely decide on the price of the rent or is it something we work on together?

  We will provide you with our suggested rent price based our professional knowledge of the area coupled with analysis of the market rental rates. If you do not agree with the pricing, we will create a marketing plan which may include a plan to assess and lower the rental amount as needed. Please keep in mind that choosing a rental price that is contrary to the PMI recommended rate will opt you out of the 30-day rental guarantee.

• If I am purchasing a property with a resident already in place, how would the transfer of the documents and funds look?

  At the time of closing, all deposits, prorated rents, and any other resident funds should be surrendered to you. We will need these items as well as any lease agreements, ledgers, keys, remotes, or other details for the property forwarded to us at our office. You can either arrange for those items to be delivered to us or we can make arrangements to retrieve them.

• How many evictions do you have each month?

  Due to our extensive resident screening process, we are proud to say that we deal with below average number of evictions annually. It is uncommon that we have an eviction on a monthly basis.

• What is the average length of time a resident stays in a property once your team places them in the home?

  Our average residents stay in a property for 2 to 2.5 years. The type of property, location, and how the property maintenance is managed are all contributing factors when it comes to resident retention.

• How do you screen prospective residents?

  All occupants 18 and older must fill out our online application. Applicants are approved based on a scoring process that is fair and consistent to comply with Fair Housing regulations. We perform credit check to detect any collections, bankruptcies, and assess credit worthiness. Employment and Previous Rental History are verified by contacting their present employer and previous landlords. We also perform criminal background checks on all prospective residents.

• How do you handle maintenance request from residents?

  Work orders can be submitted electronically through our resident portals. Our maintenance coordinator will then assess the request and proceed with troubleshooting the issue with the resident and determining if a repair is required. If it is deemed that a technician is needed, the maintenance coordinator will contact the appropriate party to make the repair. If the repair is above the reserve amount that we agree to in your management agreement, you will be notified prior to the repair being authorized. If additional funds are needed to complete the repair we will request those in advance.

• Do the damage costs charged to the Resident at move-out include all repairs, damage fees, and maintenance that the Resident is responsible for?

  Yes, when we perform the move out inspection we will compare it to the move in inspection and charge the residents for any damage, not including any wear and tear. We will then deduct that from the resident’s security deposit. If the damages exceed the amount of the deposit we will also attempt to collect additional funds to cover the cost. If the tenant does not pay the excess amount, we will pursue them in collections.

• Do you have any resident fees that are charged during the occupancy? If so, are they shared with the owner?

  Yes, we do have resident fees that are charged directly to the residents for services and programs that they obtain from our office. These are fees that we retain to offset the cost of managing the property and auxiliary programs so that we can keep more of your funds in your pocket.

• The current resident lease is currently in a month to month status. Do you recommend negotiating a lease with the tenant?

  Yes, we have found that it is best practice to have your resident under a formal agreement with a set length of lease. We make our recommendations based on the resident history and market situation. However, we do look at each situation on an individual basis and ensure that we are aligned with your goals for the property.

• Can you assist in utility setup for my property? If yes, what if any cost is associated with this service?

  Yes, we can assist you in setting up the utilities for your property. We have a utility set up cost and require additional funds in your reserve account to cover all deposits and fees that may be required by the utility companies.

• Are you a licensed property manager/real estate brokerage?

  Yes. I’m a licensed real estate broker in Florida and the owner of PMI North Lake Homes, a fully licensed brokerage and property management company.

• Do you have references?

  Absolutely. I can provide references from both property owners and residents we’ve worked with. Just let me know the format you prefer.

• How long have you been in business?

  I’ve worked in real estate for over 10 years. PMI North Lake Homes is a new venture backed by the national PMI brand combined with my local expertise.

• Do you have electronic and automated systems set up?

  Yes. Owners and residents have access to secure online portals for rent collection, maintenance tracking, financial reports, documents, and communication.

• How often do you check in with residents and inspect properties? Do you do annual walk-throughs?

  Yes. We conduct annual property evaluations, plus inspections at move-in, move-out, and during lease renewals.

• Who holds the security deposits?

  All deposits are held in a Florida-compliant escrow account managed by our brokerage.

• Do you offer a Landlord Protection Insurance?

  This exclusive product is only available through Professional Property Managers powered by SureVestor's revolutionary Landlord Protection Coverage so by working with us, you are eligible to get this industry-leading Landlord Protection Insurance featuring Rent with Confidence Guarantees.

• Will you advertise and show a property while it is occupied?

  Yes, if the resident cooperates and the property is in good condition. This helps minimize vacancy time.

• How long does an eviction take?

  In Florida, an uncontested eviction usually takes 4–6 weeks, depending on the court.

• How long does it take to turn a property between residents?

  Typically 3–5 days. If the unit is clean and in good condition, we can turn it in 24–48 hours.

• Do you conduct credit and background checks?

  Yes. We screen applicants for credit, criminal history, eviction history, and verify income and employment.

• What is your philosophy on renting properties?

  We focus on balancing competitive rents with tenant stability. Sometimes pricing slightly below market results in longer tenancy and fewer turnovers.

• Do you take photos at move-in and move-out?

  Absolutely. We document everything thoroughly to protect your investment.

• Do you take photos of repairs?

  Yes. We request before-and-after photos for repairs and upload them to the owner portal for transparency.

• Do you offer a resident placement guarantee?

  Yes. If a resident we place breaks their lease or is evicted within the first 6 months, we’ll find a replacement tenant at no additional cost.

• How do you handle resident maintenance?

  Residents submit maintenance requests through their portal 24/7. For emergencies, we have an emergency line. Small repairs are handled by trusted vendors, while larger repairs always require owner approval first.

• Do you establish a repair threshold for owner approval?

  Yes. Our default threshold is $300. Anything above that requires your approval unless it’s an emergency.

• Who do you use for repairs?

  We work with licensed, insured, and vetted local vendors—plumbers, electricians, appliance techs, and handymen—prioritizing quality and reliability.

• What is your philosophy on repairs?

  We focus on long-term value, not just quick fixes, to protect your investment.

• How does your company handle maintenance costs?

  All vendor invoices are passed through at cost, and every detail is included in your monthly statements.

• How quickly do you respond to owner calls, texts, and emails?

  Same day, usually within a few hours. We know communication is key.

• Do you provide evaluations during due diligence when purchasing a property?

  Yes. We offer pre-purchase evaluations and provide a detailed list of what’s needed to make the property rent-ready.

• How do you increase rent if it’s below market?

  We recommend gradual increases at lease renewals and adjust pricing at turnovers using current market data.

• What types of properties do you specialize in?

  We focus on single-family homes, townhomes, and condos in South Florida.

• How much notice do you provide residents before a property evaluation?

  We provide at least 24 hours’ written notice. Evaluations typically take 30–45 minutes depending on size.

• When do management fees begin?

  We only begin charging management fees once a tenant is placed and paying rent.

• Can you assist with utility setup?

  Yes, we can coordinate utility setup as part of our onboarding.

• Do you provide property condition reports for occupied properties?

  Yes. We conduct evaluations even during tenancy, with full reports and photos.

• How often do you suggest property evaluations?

  At least once per year, though some owners request them more frequently.

• Who decides rental pricing?

  We recommend a price based on detailed market analysis, but the final decision is always yours.

• Is applicant screening included in the placement fee?

  Yes. All screening costs are included—no surprise charges.

• Am I charged for paid advertising sites?

  No. All advertising, including premium syndication, is included in the placement fee.

• How do you handle a property purchase with an existing resident?

  We coordinate with the seller and current management to transfer leases, deposits, payment history, and documents.

• How many evictions do you have per year?

  Very few. Careful screening keeps our eviction rate low.

• What owner reserves do you require?

  Typically $300–$500 per property to cover minor maintenance or emergencies.

• How long do residents usually stay?

  On average 2–3 years, thanks to strong screening and responsive management.

• How do you screen prospective residents?

  We verify credit, criminal history, eviction history, income (2.5x rent), and check landlord references.

• How do you handle maintenance requests from owners?

  We respond quickly, gather details, and coordinate with vendors—keeping you informed at every step.

• What happens if a resident doesn’t pay rent?

  We follow Florida’s legal process: notices, communication, then a 3-day notice if unresolved, and file for eviction if necessary.

• What’s included in the placement fee?

  Marketing, showings, screenings, lease prep, move-in inspection, and tenant onboarding.

• What does the property setup fee cover?

  Initial onboarding, inspection, photos, lease file setup, portal activation, and utility coordination if needed.

• What’s your late fee policy?

  10% of monthly rent after a 5-day grace period.

• When do you pay owners?

  Between the 8th–10th of each month, once funds clear.

• How are rental payments sent?

  Via direct deposit. You’ll also receive monthly statements through the portal.

• Do residents need renters insurance?

  Yes. We require proof of renters insurance with liability coverage before move-in.

• Are residents charged for all damages at move-out?

  Yes. Anything beyond normal wear and tear is documented and charged.

• Do you have an owner portal?

  Yes. Owners have 24/7 access to real-time financials, documents, ledgers, and maintenance updates.

• Do you recommend month-to-month or fixed-term leases?

  We recommend fixed-term leases for stability and reduced vacancy risk.

• Is there a cost to onboard a property with an existing resident?

  Yes. We charge an onboarding fee to set up the property, gather documentation, and conduct an initial inspection.

• How much is the lease renewal fee?

  We charge a flat $195, which includes inspection, paperwork, and lease updates.

• What’s your average turnover time for rehab projects?

  For basic projects (cleaning, paint, small repairs), 3–5 days.

• What are your average days on market?

  Most properties rent within 30 days depending on condition, location, and price.

• What’s your vacancy rate?

  Under 5%. We minimize vacancies through strong marketing, pricing, and retention.

• Do you treat owners like a number or like valued clients?

  Like valued clients, always. We know your name, your property, and your goals. We treat your investment like our own.