We understand that you have many options when choosing a management company. The key to making the right choice is asking the right questions. Click below to see the questions we think are most important.
What are your fees?
Lease Fee: 50% of the first month's rent. The lease fee is a one-time fee covering everything from our first meeting to the day we sign a lease with the tenants. All photos, showings, background checks, and paperwork are included in this fee. Some websites charge fees to market your property. We do not charge another lease fee when an existing tenant renews their lease.
Management Fee. 10% of collected rent income for Single Family Homes. If your property isn't bringing in money, we don't get paid. Apartments will generally have lower fees.
When do you send reports and pay distribtuions?
Most management companies send their reports and distributions at the end of the month or the following month. Most of our reports and distributions are submitted by the 10th of each month.
Do you offer residents the option to pay by direct deposit?
Collecting checks is slow and inefficient. A resident might mail it on the first of the month, But it takes a few days to arrive, another couple of days to be deposited, and then a week or more for the check to clear.
Our residents set up automatic, recurring payments through their online tenant portal. Most of our residents love the option, and their rent shows up in our bank account on the first of the month like clockwork. The result is a much faster turnaround for you.
Can residents pay with a credit card or cash?
Any of our residents can pay by credit or debit card. We want to make it as easy as possible for them to pay rent, even if it means using a credit card once in a while. And while residents are not allowed to pay cash directly to us for security reasons, 7/11 convenience stores and ace cash express accept cash payments on our behalf.
Do you require tenants to carry renter's insurance?
Tenant liability insurance protects you from expensive property damage that exceeds the security deposit. Some managers will initially require tenants to submit proof of renters insurance but then do not follow up to ensure the coverage is renewed or that the premiums are paid every month.
We pay the resident's monthly premium for tenant liability insurance, and the tenants reimburse us.
Do you use your own leases?
No. Landlord / Tenant laws change constantly, and leases need to be updated to reflect those changes. There are a few good associations that sell the most up-to-date leases. A manager who uses their leases has an outdated version to save money by not paying association fees and the continual costs of new documents. An outdated lease puts you at risk.
Tell me about background checks.
We outsource background checks to a professional company specializing exclusively in this critical part of property management. Using a third party also protects you and us from future discrimination claims. It is the most comprehensive background check allowed by law.
Where do you advertise?
Owners tend to focus on fees, but vacancy is the most expensive cost of owning a rental. An empty home or apartment is losing hundreds of potential dollars every week. We blanket the market with advertising and keep good residents in place for additional years.
What if I want to move back into my home or sell it someday?
The City of Portland requires homeowners to pay tenants relocation assistance when issuing a no-cause eviction. The fees range between $2,800 and $4,500, depending on the number of bedrooms. Homeowners may apply for one of twelve exemptions; however, many require the homeowner to apply for their exemption and disclose it to the tenants before signing a lease. Visit the Portland Housing Bureau website for more information.
Why do I add Greenbridge Properties as an additional insured party on my homeowner's insurance policy?
This is a standard requirement for property managers and only applies to the general liability part of your policy. Greenbridge Properties has substantial General Liability and Professional Liability Insurance policies. But those generally don’t protect matters concerning the home itself, such as someone injuring themselves on the property, a burglary, fire, water leaks, and more. Adding Greenbridge does not increase your insurance premium. And it allows us to tender a claim on your behalf if something happens with the property.
How are maintenance emergencies handled?
We act on maintenance emergencies immediately, sometimes without prior authorization, when an incident is actively damaging the property, run afoul of statutory law, or creates a safety issue for the occupants. Examples include:
- If air conditioning is present in the home, has failed, and it is 85 degrees or higher outside.
- The home has no heat and the outdoor temperature is lower than 55 degrees, weather permitting.
- No water.
- Overflowing toilet.
- The home only has one toilet that is not working.
- The refrigerator goes out.
- Kitchen sink backed up.
- Electrical outage and the occupant cannot flip a breaker.
- Anything involving natural gas.
- Water leaks, broken pipes, continuous running water, or water intrusion.
- Unsecured entry points into the home.
- A tree or landscaping failurehas caused damage to the home or a neighboring property.
- Pest control during unusually high instances.
- Non-functioning access gates or garages with vehicles parked inside.
- Any threatening situation: fire, flood, police action, etc.
What else should I know?
All of the technicians we hire are Licensed, Bonded, and Insured.
Your property is inspected by a maintenance technician every six months to check on the tenants and perform any quick preventative maintenance issues, for example, a leaky faucet.
We deposit your funds in a clients' trust bank account that is federally insured. The account also has special regulations that protect it from judgments against our company or commingling with our money. In other words, the rent we collect on your behalf is always legally yours.
Emergency maintenance services are available Twenty-Four hours a day, 365 days a year.