New Tenant Notification
You will be receiving an email congratulating for the new lease(s) that has been created for your property.
In order to ensure management during the lease term is as seamless as possible, we have a couple of systems in place that make the process very efficient and easy on you. Please take some time to read over this e-mail to appraise yourself with our Award Winning system.
A table shows all the details of the lease(s).
- Please send us any specifics in reference to the rental if you may have not done so already, for instance, homeowner association info, bylaws, fee structures etc.
- Please note that owner draws normally occur on the 10th, 20th, or the last day of each month (or the next business day if not a business day). Rents are always due on the 1st but are legally payable until the 5th calendar day of the month. The owner draw initiation date will depend on when rent is paid by the tenant, please use the following schedule for reference
* rents paid after the 25th will be disbursed the next month during the 1st Owner Draw period
- Please create or update your bank account info on the Owners portal so we are able to process owner draws.
- Please call your utility companies within two weeks of the lease start date to ensure that the tenant has switched the utilities over as per the lease, if not, please inform us of this so we are able to contact them immediately and please send us any bills you receive during their occupancy so we can request reimbursement to you. IMPORTANT We strongly advise you as the owner to enroll or each utility companies LandLord Program, this a Reversionary Program with the utility Co. which ensures that the utilities will be switched back to your name when the tenants vacate and not be disconnected, eliminating any possibilities of frozen pipes and aiding the showing process for new tenants.
- If you have not done so already, please add our domain and e-mail addresses (info@ChiPropertyManagement.com and noreply@ChiPropertyManagement.com) to your contact list so any important correspondences we send out do not end up in your spam folder. We send you several alerts to keep you updated which include; rental payment received, maintenance request received, owner, draw initiated, any returned payment alerts, lease expiration notices, unpaid rent notices, and other important notices
- The owner portal is available 24/7 for your access and we advise you to log on every once in a while so you are able to view details regarding your property and finances. We also issue monthly statements on the 10th day of the following month as we complete all the accounting for the portfolio as necessary and publish statements on the portal. We will also issue 1099's as per IRS requirements every year.
- We will send you a copy of each maintenance request we receive so you are able to communicate with us. Maintenance is especially important to preserve the integrity of the property. We try to make sure that all maintenance requests are scrutinized before we dispatch any personnel. If it is an emergency, we do the minimum to stop the issue and contact you to discuss how we should proceed. If it is not an emergency, we will try to contact you for any items that are below the approval threshold about resolving the issue at the least possible cost and ensure it is taken care of in a timely manner. Timely maintenance also improves tenant retention and encourages tenants to care for the property as well. In many cases, maintenance must be responded to in a timely manner or the tenants have a right to expense hotel stay, terminate the lease, or get the work done by outside vendors who are normally 60-130% more expensive than our in-house team or preferred vendors and more importantly may not have the appropriate licensing and/or coverage.
- Please note, before the end of the lease term, we will begin lease renewal negotiations as we know that tenant retention is especially important to all our owners in order to maintain cash flow and reduce any turnover costs. If the tenants do not choose to renew, we typically re-list any property that is in fair condition within 5-10 business days of move out so we are able to secure new tenants as soon as possible to maintain cash flow for you. We will contact you approximately 90 days prior to the lease expiration with additional information regarding the renewal process and any possible rent increases at that time.
The Owner Portal is an Award-winning system that we are very proud of and is very useful for our owners. You are able to use it to view all details regarding your property(ies) including statements, maintenance, bills and it has a conversation tab that ensures you are speaking to the right department every time you have any questions or just want to say Hi.
You may visit the owner portal by clicking here. Portal Login