Owner - Frequently Asked Questions

Who decides the monthly rent?
The decision as to the monthly rent is made by the property owner. However, Annapolis Property Services provides market information and guidance to help you in your decision. The goal is to obtain the maximum monthly rent without pricing your property out of the market.

How do I know the rent will be on time?
To ensure that tenant’s rents are received timely is to ensure a sufficient tenant credit and financial background check have been completed before entering into a lease agreement.

Annapolis Property Services has instant computer access to the major credit reporting bureaus and through our careful employment and previous landlords checks – Annapolis Property Services will ensure you get your money on time.

What happens if the money is late?
Annapolis Property Services has a strict policy on rent collection. All money is due on the first day of each month. Tenants have a five-day grace period in which to pay. On day six, no matter what the issue may be, Annapolis Property Services starts a District Court proceeding against the tenant. The local sheriff serves the tenant with a summons to appear in Court. The Court hearing usually takes place between the 14th and 20th day of that same month.

In most cases the tenant will have paid the late rent payment before the scheduled Court date. In the event that the Court process continues, actual eviction will usually take place during the second or third week of the following month. At Annapolis Property Services, eviction is unusual and we find through our thorough pre–screening most tenants’ value their good credit rating to much to risk late payments.

How are mortgage payments, condo/HOA fees paid?
It is at the discretion of the property owner whether mortgage payments are to be made directly by Annapolis Property Services or by the property owner – whatever the case, all monthly net rents to owner will be delivered in a timely manner.
For other services or fees, such as condominium fees, homeowner’s associations, etc., these will be paid directly by Annapolis Property Services on the property owner’s behalf as and when they are due.

How will I know my property is well cared for?
Through numerous inspections by Annapolis Property Services. Prior to the tenant moving in, Annapolis Property Services conducts an in-depth inside and outside, room by room inspection of the property which is detailed in an inspection report and handed to the tenant. The tenant is able to add any additional comments.
Throughout the course of the lease, Annapolis Property Services conducts another detailed inspection every 120 days. These inspections keep you advised of how things are going and allows the tenant to voice any concerns or issues they have with the property. Once the tenant vacates the property, Annapolis Property Services conducts a final inspection to determine if there should be any deductions from the tenant’s security deposit for items over and above normal wear.

How are minor repairs handled?
Annapolis Property Services will asses the cause and nature of the repair prior to any Client spending. The Owner’s reserve account allows for minor repairs up to $250, this is to be used at the discretion of Annapolis Property Services. If the damage is caused by the tenant, beyond normal wear and tear – the Tenant will be billed accordingly.
Owners will receive a detailed account of any spending. No mark up or surcharges are added.

How are major repairs handled?
Emergency repairs one way or another take place, whether it be burst water pipes, heating systems etc., If an emergency takes place leaving the tenant or property at risk, Annapolis Property Services will handle the situation immediately and notify the owner via email, phone etc.,
If a major repair is required that is not of an emergency nature, Annapolis Property Services will assess the repair, obtain quotes from various contractors with whom Annapolis Property Services deal with on a regular basis, or use contractors requested by the property owner. It is then the property owners’ decision as to when and how to go forward with needed repair.

All owners are required to hold a Landlord liability policy and property insurance prior to any tenants moving in.

When do I get the money from Annapolis Property Services?
All rent payments are due on the first day of each month. All payments authorized by the property owner, mortgage, condo/HOA’s fees etc., are paid on the first day of the month in which they are due. Once all payments are paid, on the eighth day net rent that is due to the property owner is electronically transferred to the owner’s individual bank account. These funds are generally cleared in the owners account by the 15th day of the month.

How much are Annapolis Property Services Fees?
All owner services outlined in the website are covered by a monthly management fee. This is typically 10% of the monthly rent, however, Annapolis Property Services can tailor the level of service offered to specific owners requests and fees can be adjusted accordingly.

Annapolis Property Services does not charge any finders fees for new tenants and only passes on any direct advertising costs incurred.

If we have not answered your question, please email us info@annapolispropertyservices.com