What is the normal management fee?
We charge 10% of all revenue collected from residents for single property owners.
Late fees go to the property management company. We use them in an effort to get rent collected in a timely manner.
There is a reduced management fee rate for owners with multiple properties.
Do we pay you for the time that the property isn't rented?
We hope that any vacancy is a very short amount of time. We do not collect any fees or revenue unless there is:
1) a paying resident
2) work we are doing on your behalf to make improvements the property
What are other costs & money handling involved?
We charge a $250 placement fee for each lease agreement we have signed. Renewals do not apply. This fee is to help cover the turnover management, marketing & showing your property, lease creation & execution, providing locks & lock change-out, and move-in management.
We have a $300 threshold noted in our Management Agreement where we have the permission to spend up to $300 without contacting the owner. The average property we manage is valued at over $125,000. We believe if you trust us to manage your property, you can trust us to be good stewards in handling up to $300 in repairs.
There is no cost to the owner until rent is collected. The $250 placement fee comes out of the first month's rent.
Should we include utilities in the rent price? Who pays utilities?
Typically, the residents pay all utilities. The owner is responsible for the property taxes, insurance, mortgage (if there is one), and any repairs required not caused by negligence of the resident.
In some cases, we have included utilities in the rent amount and adjust the rental rate accordingly but keep it at a consistent flat fee. We will then take care of the utility payments on your behalf along with any other general expenses such as trash collection, pest control, or annual cleanings.
Should we include washer & dryer?
In most cases, yes. It depends on the property. Typically the ROI is higher when including washer & dryers. We can advertise without and let applicants know that they can be included for $____ more per month.
How often / when do I get paid?
We initiate owner payment on the 25th of each month.
We pay by direct deposit and it takes three days from the initiation to credit to your account due to bank holds.
How much do you charge for security deposits?
Typically our security deposits equal one month's rent. If they do not have a credit score we will require additional 50% as noted in our Qualification Requirements.
Who keeps the security deposit?
We hold the security deposit in our legally required escrow account. We will conduct move-out inspections once your resident moves out and withhold any amounts necessary to cover damages.
How do you market for your upcoming vacancies?
First, our website generates tremendous traffic due to our five star rating on Google.
Second, our cutting edge software (Buildium + Tenant Turner) syndicates our listings to many other sites such as Apartment.com, Hotpads.com, etc.
Finally, we have an annual paid contract with Zillow.com that pushes listings to Zillow.
Do you have a pool of people interested in renting?
We get calls daily for people looking for properties to rent. We believe more and more residents start with a property management company based on their reviews & reputation, then
How long do you think it will take to rent my property?
It all depends on the property and price point. Typically we get leases signed within two weeks of a right priced, newly managed, vacant property.
How long are you lease terms?
We do our best to get leases on the school calendar as the majority of people move during the July/August months. Therefore we have signed shorter and longer leases than a year to help facilitate this.
How do you select residents?
Typically, we have multiple applicants per property. We review the applications, background checks, paystubs, employment, prior leasing experience & provide the best -- could be one, could be three -- options to the owners to get their feedback. We do not and will not allow any discriminaton on the fair housing protected classes of race, color, religion, national origin, sex, disability and familial status.
Do you require the residents to have renters insurance?
As a company we do not. As an owner, you can and we can add it to the lease agreement.
What else do I get?
We send out monthly statements via email AND we’ll give you 24/7 access to an online owner portal. Here you can see everything associated with the accounting & record keeping of your account. You can pull income and statements any time you'd like for any time period you'd like!
At year end, you will get a 1099 and financial summary of the year. It's best that all expenses except for property taxes, mortgage, and insurance payments are paid by us so that your financial summary is clean and helpful to you or your accountant.
Can you provide references?
Absolutely. Please email email@example.com to request.
How long have you been in business?
Martin & his wife, Teal, started Orange Property Management in the Fall of 2012. They managed their own property for a few years before managing for others. This was intentional because they wanted to learn how to carefully & successfully manage real estate before doing it for others.
Less than $100 in total has been spent on marketing to solicit owners since our founding in 2012. Growth has been word-of-mouth & based on our Google Reviews.
How many properties do you oversee?
181 properties as of November 2022. Our plan is to grow to 250 by 2025.
What areas do you manage property?
Our portfolio of rental properties are mainly spread across the tri-county area of Pickens, Oconee, and Anderson counties with properties in each of these communities:
Anderson, Central, Clemson, Newry, Pendleton, Seneca, and Six Mile
We also manage properties in Spartanburg county in these communities:
Arcadia, Cowpens, Inman, Pauline, Roebuck, Spartanburg, Walnut Grove, and Woodruff
What does the team look like?
Parker Teal is our leasing agent and handles most of the front-end work in property leasing.
Sennah Honea is our administrative assistant and bookkeeper.
Kelsey Long is our director of Communication and handles much of the resident communication as well as maintenance management.
Martin Tiller is our broker-in-charge.
We also enjoy contracting Clemson University students interested in real estate to help with day-to-day tasks and inspections to facilitate our operations. Sure, we pay them but we really enjoy making an impact in passing along real estate experience and knowledge in addition to their monetary compensation.
How do you handle repairs?
We vet repair requests and if within our wheelhouse, we handle.
If it is a more involved or significant repair, we let our contractors or licensed service providers (depending on the situation) handle it. We own rental property and treat our owner's properties as we do our own with careful discernment and focus on ROI.
How often do you inspect properties?
We conduct preventative maintenance inspections in every one of our properties every 90 days. This has led to residents taking better care of the properties and a significant reduction in issues between turnovers.
Do you manage short-term rentals?
We do! The management fee is 15% for short-term rentals.
See our Rent-Ready Recommendations for STRs.
We also have a cleaning network to support them.
We utilize VRBO as a management platform for vacation rentals.
We cannot assume a VRBO account. Any short-term rental we take on will be added to our VRBO management account. If a short-term rental leaves our management account after generating reviews, those reviews will be lost should a new account be created with said property.
Why should we choose you?
Choose us if you want to treat your property like an asset such as a stock, bond, or security.
We want to handle all of the calls & repair requests, reduce / remove the real estate & property issues, and help your property appreciate in value due to its care, its residents, and its management going forward.
We don’t want to bother you nor have your diversification into investment real estate be a nuisance.
We are investors ourselves and will treat your property like we do our own. We know you want the highest return on investment (ROI), but also to keep your property in a solid condition. We’ll do just that and our track record shows it.
How do I get started?
1) Review our Management Agreement and let us know if you have any questions.
2) Fill out our New Owner Form. After completing this form we’ll send you a management agreement to sign through DocuSign. This agreement must be signed before we begin marketing any properties.
3) Review our Rent-Ready Recommendations and let us know if you have any questions or need assistance full-filling any of these recommendations.