Q: Can you help us with the Court Eviction Process?
A: Michigan law does not allow non-attorneys to represent owners. However, we can help by sending out the 7 day Notice for Non Payment of Rent promptly, and also help in securing a court date. Then the owner, or owners Attorney, will have to appear in court. We also can help with an Attorney referral if you do not have one.
Q: How long do your management contracts run?
A: Our minimum time period is one year. However, should your property become vacant, our contract has an escape clause if you would like to cancel at that time.
Q: Do you have a reference list?
A: It is our pleasure to provide a legitimate landlord with a list of references. We do protect the confidentiality of our owners and because of that cannot list them here on the web.
Q: What is your policy for late paying tenants?
A: As you probably know, if you do not stay on top of this issue, tardy tenants can manage to beat you out of a lot of rent money. Champion Property management has an excellent system to manage this problem. If the payment is late (one day) we mail the tenant a Notice of Non Payment. If the payment is still not received by the 10th day, papers are completed and a court date is set usually within two weeks, depending on where your property is located. This quick action, when taken, can minimize the property owners loss. We feel fast and consistent action, in collection of rent, is crucial to success in managing rental property.
We find most homeowners are afraid to issue the Notice to Quit and Court Papers because they are afraid they may lose the tenant. We would rather lose a non-paying tenant immediately instead of losing months.
Q: We are moving out of state and do not want to think about paying taxes, repairs, mortgage payments, etc. Will your company handle everything?
A: At least 30% of our landlords are either out of the state or country. Our system is set up to handle ALL scenarios of property management including paying taxes, insurance, etc. Of course, some owners wish to do that themselves, and our system allows that as well.
Q: We own multiple properties and throughout the year wonder what the combined cash position is on these properties for tax planning and other purposes? Can you help with this too?
A: Our software can give us financial information manipulated into many different reports that provides insight into financial, maintenance needs, and vacancy issues for just one property or multiple properties.
Q: Will I get stuck with an unpaid water bill when the tenant leaves?
A: Our lease calls for the water when due to be added to the next scheduled rent payment. If the water is not paid at that time, the tenant would be in default and the eviction process can be started.
Q: Can I list my home for sale and rent at the same time?
A: Yes, you can list your property for sale and rent at the same time if you choose. We are licensed Real Estate Brokers and cooperate fully with Real Estate Agencies around town. We can also list your property on the multi list system, to provide more exposure for your property.
Q: Can you find me a tenant who will want an option to by the property?
A: Rent with Option to Buy clauses can be added to the lease if agreed by the landlord and tenant. Our Mortgage Company affiliation with Ross Mortgage can qualify the tenant for a loan as part of the leasing process. Then, we will work with the tenant through the Loan Officer to help them obtain financing to purchase the property by the end of the lease term.
Q: Should I own the property as a Corporation, Limited Liability Company, or Sole Proprietor?
A: Always get legal advice, we think it is safer that the properties are owned and operated from an owner liability standpoint, through a Corporation or LLC. Also you may want to increase you liability coverage on your insurance policy up to $500,000 or maybe $1,000,000.
Q: What does my homeowners Insurance Policy cover?
A: If you are moving out and turning your home into a rental, change your Homeowners Policy to a Rental Policy. Read your policy and ask questions. Some policies exclude coverage on items like lead base paint, and mold issues. Know where you stand. Consult your insurance representative to be sure.
Q: Do I still owe the Management Company if the tenant does not pay their rent?
A: No, our fee is collected from rent received. If the tenant does not pay we also do not get paid.