Management Services -
Frequently Asked Questions

1. Why should I use a professional to manage my property?
a. We handle the maintenance and emergency calls, insulating you from the tenants.

b. We enforce collection of rents and serve the proper notices upon failure to pay or comply with lease terms.

c. We understand federal, state and local laws regarding tenancy, discrimination and security deposit disposition, ensuring those rules are followed.

d. We know and understand the local market in terms of advertising, rental rates, and repair work, so that you will often save money under our management.

2. How many properties does Property Associates Management Co. manage?
We actively manage for approximately 60 owners and 100 units.  More than half of our rentals are homes, the balance are small apartment buildings, two to twelve units in size.

3. Do you provide me with a monthly report of activity on my property?
Yes, Property Management Associates utilizes Yardi Property Management Software which provides full integrated accounting reports. On the tenth day of the month we send the previous month’s financial general ledger and income statement for your review. These statements detail all financial activity of your property for the previous month as well as year to date summaries. Invoices are kept on file and copies can be sent at the end of the year at your request when necessary. Your rent proceeds from the current month are included with these statements unless you have requested that your check be deposited in one of our local banks instead. 

4. How do you advertise my property?
Advertising is provided through my web site, and in The Union Newspaper.

A sign is placed on your property when appropriate.  We have a phone rental hotline and printed “Available Rental” lists.  Advertising is an owner cost, which ranges from $105-$160/month depending on the actual rate charged by the newspaper.  Although the internet is a strong source of information used by prospective tenants, we still believe the local newspaper is an important local resource.

5. How much does professional property management cost?
The monthly management fee is normally 8% of the rent up to $125/mo. The management fee for multi-unit properties is 6-7% of the rent, depending on the number of units. In addition to the monthly management fee, a placement fee is charged for the extra effort involved in screening, showing and leasing your property.  Advertising is also charged to the owner based on my negotiated rates with The Union Newspaper.

6. Are "Placement Only" services available?
Yes, the fee structure is similar: Advertising is charged at the Union’s monthly rate.  The placement fee is $400-$500 depending on the rental price, for the service of screening, showing and lease agreement. The owner is responsible for the walk-through, preparation of the property for rent and all other facets of tenant communication and management. 

7. How long will my property be vacant?
We work with tenants to begin advertising and showing your rental property once we receive their 30-day notice to move. In normal conditions, a home or unit that is priced right and is in good condition should rent within two to four weeks. We normally have vacancies of only a few days up to 2 weeks between tenants, minimizing the cost of a vacancy to you.

8. How do you screen tenants?
I know that approving a tenant to move into your property is a very important responsibility. Prospective tenants fill out an application, which is then rigorously screened. I run their credit report first, and then verify their landlord references, employment references and personal references. I do not accept smoking inside the rentals. Through careful screening, I strive to keep your property rented to well qualified tenants minimizing potential problems in the future. The most qualified applicant is then selected with your approval and the lease is prepared and signed.

9. How is the security deposit held?
In order to have the funds available after the tenant moves out, we require that all security deposits are kept in the Property Associates Trust Fund Account at Wells Fargo Bank.

10. What happens if you have to evict a tenant?
On the rare occasion that we must start eviction proceedings, we employ the services of an attorney who specializes in eviction and tenant law. The cost of the eviction is paid by the owner of the property. Currently the cost is approximately $1200, including court costs. Evictions are very rare due to our screening process and management.

11. What can I do to enhance the rentability of my property?
Curb appeal is very important. We want your property to look its best to attract the best possible tenant. Start on the outside and work your way in. How does the outside look? Does the yard look well maintained? Is there any peeling paint on the house? How old is the roof? Is the garage door in good working order? Inside: Is the house freshly painted? Are the carpets and floors, miniblinds and/or draperies, appliances kitchens and bathrooms clean? Are there any leaks? The bottom line: good quality prospective tenants want to move into a clean, well-maintained house. Investing in a good professional cleaning and keeping the property maintained will increase your odds of renting your unit more quickly to well qualified tenants.

12. How is the move-out and security deposit handled?
When we receive a 30 days notice, a move-out letter is sent to the tenant. Inspections are performed and upon move-out deductions are made from the tenants security deposit for any required repairs and cleaning, not including normal wear and tear. The remaining security deposit is returned to the tenant minus any allowed deductions. Simultaneously, the house is prepared to be re-rented, including any recommended additional repairs, cleaning or improvements thus properly maintaining the condition of your home.

Office of Property Associates Management for rentals in Nevada County, including Alta Sierra, Grass Valley and Nevada City