Answers To Common Questions
You created a new and unique business model? Please, tell me more!
We call it our new 360 Service Model – you may call it brilliant. As we approach four hundred properties in less than three years, we’re grateful for our explosive yet, controlled growth and we certainly don’t take it for granted. Marcel continued to conceptualize what may be a real market shaker. He moved his office from the bay in Newport Beach to a 5,000 square foot warehouse in Westend Costa Mesa. Then completely renovated a tired, eighty year old building into an new, upscale coworking workplace. Now our very best interior designers, contractors, handymen, painters, landscapers, HVAC’ers, mortgage brokers, insurance carriers, etc. are working under one roof to create, collaborate, negotiate, and orchestrate our vendor services driving down costs and increasing service levels. POP goes the popcorn – now that’s a great idea!
Really, no long-term contract?
Who wants to be married to a management company for six months or a year? No one. So, we’re giving our Orange County landlords what they want. So, at any time if you don’t value our services, simply cancel. No other Orange County property management company offers “true” month-to-month service… So, we’ll work hard to earn your business every day to ensure that the three hundred plus rental properties we manage continues to grow.
More about our 100% money back guarantee?
We feel it’s important that if you choose us, you choose peace of mind. So, during the first sixty days if you are not completely satisfied, you can walk away and we’ll refund 100% of any fees you paid us. We are the only property manager in Orange County that has a money back guarantee (and not sure why?) We always have your best interest in mind.
What are your fees?
We’re not the cheapest, but we are the best value (and proud to say it). Our simple, clear cost, no surprise pricing includes almost everything for free. We chose to eliminate dozens of “junk fees” that most Orange County management companies charge such as charging you for repair requests, marking up invoices, lease renewals, name changes, key copies, smoke alarm batteries, company credit card use, and many other charges that deteriorate your income – but not theirs. Our management fees are a simple 7% for homes, 6.5% for two to four units, 6% for five or more units, and just 5% for commercial properties. So do your competitive comparison wisely and we’ll see you soon!
How do you know you’re the best value?
We do your homework for you. So, every year our owner, Marcel, visits over 125 property management websites to check out their pricing, services, features, benefits, photo quality, Yelp and Google reviews and other aspects of their operation – then he calls the owner for a friendly chat to discuss the marketplace. Doing the time (and it’s weeks) is the only way we can confidently say we are truly providing you the most services at the best value. We know that Genuine is by far the most innovative and value driven property management company in Orange County… and then suddenly we hear that sound of the popcorn going… POP!
What do your management services include?
We do everything that you need on a day to day management basis – we got you covered administratively, educationally, financially and legally. Plus, we use the best rated property management software, called AppFolio, providing you complete transparency with all their features and benefits unlocked (costing about $3,500 a month alone).
Are there any costs paid upfront?
Nope. There are never any upfront document preparation, marketing, on-boarding costs or lease placement fees. We only get paid when we have the rent check and deposit in hand… Like a good, little Orange County property management company.
What do you charge to find a tenant?
Most importantly, we’re the only management company in Southern California that produces an incredible 360-degree tour of every rental that drastically increases application rates. Plus, we have a 24-hour leasing call center so we never miss an opportunity. Of course, we do a thorough property inspection, prepare, repair, advertise on all websites, pre-qualify callers prior to scheduling showings, and screen applicants extremely well – all for just 35% of one month’s rent. We get paid only when we have the rent and deposit checks in hand. There is never a vacancy management fee and if the tenant moves out before the lease ends, we’ll replace the tenant at no cost to you.
Can you help prepare my property to rent?
We market homes that are safe, functioning and clean to attract the best quality tenants. We don’t manage dumps as they attract dumpy people. So, as a landlord, if you don’t provide a nice property, we don’t need you as a client. We ensure all properties are in “hotel room ready” condition and all mechanical components are working as designed. If you take care of the property, the property and tenants will take care of you.
How do we determine what fair market rent is?
The biggest expenses are not paint, carpet or appliances, it’s the lost opportunity income of vacancy. So, we encourage providing spending a little more to provide a nice home at a fair price and it will rent faster and to a quality tenant who’ll stay longer. Rents are determined by a free detailed rental valuation report for you to compare your Orange County rental property to others.
How do you find quality tenants?
We dig deep and wide verifying income is three times the rent amount, minimum credit score of 650, two months bank statements show stability and savings, recent pay stubs validate income, all references are verified positive, landlords too are verified with no late payments, no complaints, damage, etc. Plus, rental history must show long prior rent periods of 2 years minimum per residence, lease start date is 15 days from acceptance and occupants do not exceed generally acceptable housing rule of two persons per bedroom, plus one for the property. Plus, we run nationwide eviction and criminal reports and a complete credit report.
How do you handle service animals or emotional support animals?
Like us humans, all pets are screened too. Applicants pay a third-party service provider who independently reviews and verifies the pets age, breed, and medical history. Since three out of four renters have a pet, we encourage pets as pets shorten the costly vacancy period increasing your income. Assistance animals are screened for free to ensure that we’re complying with all state and federal laws.
Do you have reliable service providers?
Yes. From painters to plumbers and landscapers to locksmiths, we have dozens of dependable service providers that take good care us. They are small companies that are honest, reliable, fairly priced with liability insurance and satisfaction guarantee. You can expect on average one month’s rent each year to cover basic repairs and will vary based on the property’s age, condition and any deferred maintenance.
How are repairs handled?
Tenants can either call our 24/7 repair center or submit requests from their tenant portal. For single item repairs under $350 we simply take care of it and won’t bother you. For any single item repairs over $350 (such as a new appliance, water heater, garage motor, etc.) we’ll contact you with the details and approval. For all safety or habitability matters such as a gas or water leak, broken water heater or refrigerator motor that cannot wait, we’ll take action fast to correct the issue and let you know how it was resolved. We do not charge for creating work orders nor markup invoices.
Do you do detailed property inspections?
New California law requires landlords or their property managers to inspect smoke and CO alarms every six months to ensure their sensors are operating (not just beeping) and are less than five years old. The report shows how the property is being cared for by taking dozens of photos notating any wear-and-tear or excessive damage inside and out. We’ll take any corrective action that may be needed for safety and functionality. We also look for any signs of pets if it is a no pet property. Our inspection report is just $200 and done every six months.
What forms do you use?
We retained the largest real estate law firms in California to be our partners. We spent thousands of dollars for our agreements that are also updated quarterly. Plus, the law firm provides a full suite of landlord and tenant legal services as well. All our property management leases and agreements comply with the most recent California court rulings to minimize everyone’s liability.
Do you handle all legal issues and evictions?
Yes. To be a good, little Orange County property manager is a lot like being a real estate therapist… We practice calm and clear communications, common sense and fairness at all times which helps resolve most tenant challenges. However, if things escalate, our experienced legal team can handle matters in a cost effective and timely manner.
Can you help me buy and sell properties?
Our sister company, Classic Realty, will get you the best deal whether you’re buying or selling. When you’re a part of our Genuine family, we’ll credit you 20% of the seller-paid commission when you buy and list properties for sale at just 1.5% when you sell. Rest assured you’ll be in good hands with us. Learn more at ClassicRealty.net.
Do you provide monthly reports and year end statements?
Yes. We can provide variety of accounting reports to meet your needs. Plus, they are conveniently stored in your personal and secure online Owner Portal along with copies of all invoices and other important documents to review anytime. If you’re not a computer person, we’re happy to mail your monthly statement at no charge. At year end, a detailed cash flow statement and a 1099 form are provided listing all your tax deductions such as the management fee, maintenance and repairs, advertising, insurance and legal fees. Your tax preparer will calculate your property depreciation, vehicle travel expenses, and mortgage interest paid.
Need more reassurance?
Click on Yelp logo below for over 120 Five Star reviews (and a few One Star haters too!)