Q: What services do you provide?
A: 85 & Sunny Property Management provides Tenant Acquisition, Monthly Property Management, Snowbird and Community Association Management Services.
Q: Can I only do Tenant Acquisition or do I need to do both TA and management?
A: We recommend that you do both Tenant Acquisition and Monthly Property Management for your leased unit, however, you can select to do either Tenant Acquisition only, Property Management only, or the full service for long-term rentals. For short-term rentals, our company provides Tenant Acquisition and PM services combined into one rate.
Q: How do you screen prospective tenants?
A: We run a credit report and criminal/background history, verify employment and landlord history, and check at least two non-relative references. We also search local court records for recent evictions that wouldn't show up on the credit report.
Q: Who approves the Tenant?
A: Based on specific tenant selection criteria given and approved by you, 85 & Sunny Property Management will approve the tenant. If this tenant does not fulfill the requirements given and approved by you in the tenant selection criteria, you will be notified and you must approve or disapprove the tenant. If this is the case, we will provide you with all the information that is available from the tenant to you. Exception: We cannot provide you with the tenant's SSN or credit report itself, but we do tell you their credit score and if any problems exist in the credit report. Once you have all your questions answered, you will be the one who approves or disapproves the Tenant. May owners ask us for our suggestion and we'll happily give it to you.
Q: What is your cost for Tenant Acquisition?
A: We charge one month's rent for Tenant Acquisition for long-term leases. Half is paid to us and the other half is paid to the company bringing the tenant.
Q: What is your cost for Property Management (PM)?
A: If we locate, place the tenant and our lease is used the cost of PM Services is 7% of the rental amount per month. Management starts in the first month of the lease. We will charge an assumption fee (50% of a monthly rent) if you already have a tenant in place to read the new lease, have our attorney review the new lease, do a walk-through with the tenants, and ensure compliance with all the terms of the lease you have used for your own tenant acquisition. Management will continue at the same rate of 7% after assumption.
For short-term rentals, the cost is 20% of total collected rent. This is for both TA and PM. We do not separate these services in short-term rentals.
Q: Why is there a different cost for PM Services if I bring my own tenant and use my own lease?
A: We have paid for an attorney to create our lease. We are very familiar with our lease and it is written to protect the owner, while being fair to the tenant. We have also done a background check, credit check, employment/income verification on the tenant and a tenant interview. Before we recommend a tenant to the owner we are very comfortable with the tenant. Unfortunately, we don’t have the opportunity to do this when the owner brings the tenant and we have had more problems with properties where we were not involved in the tenant acquisition process. Therefore, we must charge more.
Q: When do I pay any money?
A: We collect the $250 maintenance reserve when you sign the PM Contract. This enables us to maintain/repair/prepare your property while we are working to place a tenant. It also allows us to respond immediately to any issues that may come up. Management fees will be collected from tenant rents for each month we are managing the property.
Q: Who signs the lease, you or I?
A: In the property management contract, you will decide who will sign the lease. Our suggestion is that if the tenant is approved, you give us the right to sign the lease in your behalf as it has been our experience that leases will go unsigned and will take too long. This way tenants can have a signed lease immediately to use to transfer utilities to their names, register children in the schools, etc.
Q: What is the maintenance reserve for?
A: The maintenance reserve is used primarily to complete minor repairs that are necessary to  maintain the property in a first class condition. Repairs over $250 will be approved by the landlord prior to commencing work as long as it is not an emergency (lost of life, property, safety or health code issues) and we can reach the landlord. For any repairs under $250, the Property Manager will use their judgment in approving the work to be done. All repairs must be paid from the maintenance reserve or paid directly by the owner to the vendor providing the service. 85 & Sunny Property Management does not lend money. We recommend a minimum of $250 to be held in reserve. The owner can request additional monies held if they believe that more will be necessary to complete repairs. Additionally, owners of multiple units can give us permission to co-mingle reserve funds and allow us to apply those reserves to any/all of their properties.
Q: Can I use my own maintenance person or contractor?
A: Yes. But, if not licensed or insured we can't guarantee the work. You, the owner, will have to work directly with the vendor.
We prefer to use our preferred vendors whom we have a relationship with, understand their fee structure, and the quality of their work.
Q: What happens if there is a maintenance emergency?
A: We are on call 24 hours a day, 7 days a week. During business hours, we send a vendor out once a tenant calls into our office. If, after hours, the call goes to our 24-hour answering service. After evaluating the call, we either take action immediately or call a vendor first thing in the morning .
Q: Do I get copies of all invoices for maintenance done?
A: Yes. Copies of invoices are included with monthly statements sent to owners.
Q: Do you profit from any of your vendors by receiving referral fees or kick-backs?
A: No. We use vendors that continue to provide excellent and prompt service along with the best rates available.
Q: Who keeps the security deposit and last month's if applicable?
A: 85 & Sunny Property Management holds the deposit and the last month in a trust non-interest bearing account.85 & Sunny Property Management complies with Florida Statutes. By law, any escrows are to be held in a trust account whether it's ours or the owners. The problem arises when owners hold the escrows and don't have the money available when the tenant gives a 30-day notice to vacate.
Q: What happens if the tenant is late with rent or doesn't pay rent?
A: If late, being after the 2nd of the month, we give a courtesy call to the tenant to find out why the rent is late. There may be also a late fee that is charged. If no response from the tenant, or paying rent late becomes a habit, we serve a 3-day notice to pay rent or vacate.
Q: Do you provide a report about the condition of the property before and aft er the tenant vacates?
A: Yes. We do a move-in/move-out walk-through report. We also take pictures of any previous or current damage to the property.
Q: What if there is a damage caused by the tenant?
A: As long as it's documented and can be proven that the damage was caused by the tenant, you can put a claim on the tenant's security deposit for the cost of the repair.
Q: Can Security Deposits be used for last month's rent?
A: No. Security deposits are to be used for repairs or damages caused by the tenant to your unit.
Q: How does the rent check get disbursed?
A: Rent check collected from tenants will be disbursed as follows:
1) Any fee due to 85 & Sunny Property Management
2) Payment of any outstanding invoices to contractors
3) Replenish Maintenance Reserve - $250 min.
4) Directed payments – per owners' direction (association, utilities, etc.)
5) Balance to Owner
Q: Do you offer direct deposit and is there an additional fee?
A: Yes, we offer direct deposit and there is no additional fee.
Q: When will I get paid; i.e., when will I receive the disbursement of the rent?
A: 85 & Sunny Property Management has two pay periods. First pay period is for those who signed up for direct deposit. This disbursement is generally between the 10th and the 15th of the month, and it depends on when the first of the month fell in as well as when the 10th of the month. Second pay period is for those who would like to receive a company check. This disbursement is generally between the 15th and the 20th of the month, and it’s dependent on when the tenant’s check is cleared.
Q: Why does it take so long to get paid?
A: It takes up to 11 days to clear a check (though most people think it's just a couple of days.) To have monies in your acct. by the 10th-15th of the month, 85 & Sunny Property Management have to put it in the bank's system no later than the 8th – 13th of the month, and with Saturdays and Sundays (and legal holidays) being non-working days for bank transactions, we are risking sending tenant's monies without having the monies really available if we send it too early. We are trying to minimize the risk of having a bounced check.
Q: What will happen if a tenant’s check bounces and you have sent the monies to us?
A: If 85 & Sunny Property Management has sent the monies to the owner and the bank notifies us later of a bounce check, we will be contacting the owner and debit the owner’s account for the monies.
Q: I see that you charge 3% if the tenant buys my place. Why is that?
A: Unfortunately, some people offer their place to rent through a management company but really are looking to sell their property. They sometimes made “back-room” deals with tenants to purchase the property without paying a real estate commission. This clause is intended to stop this practice. If the current tenant that 85 & Sunny Property Management places in the unit purchases the property a 3% commission will be earned and due to 85 & Sunny Property Management. 
Q: Can I make changes to the Property Management agreement?
A: If you have a concern, we will be happy to listen to it and take it under advisement. This contract has been used in a number of transactions and reflects the agreement we want to have with our owners. We do not like to alter the agreement.
Q: What if I'm unhappy with 85 & Sunny Property Management, can I terminate the agreement?
A: If you are unhappy with 85 & Sunny Property Management for any reason, please contact the Owners/Brokers - Patricia Lorenzo or JR Fuller to discuss your concerns. We will do everything in our power to address your concerns. If we are unable to and you would like to cancel your contract, you may do so with 30 days written notice. If you cancel prior to us obtaining a tenant a management fee equivalent to 7% of the highest rental amount per month will be due. This fee will be waived once a tenant acquisition fee is paid.
Q: How can I help 85 & Sunny Property Management rent my unit?
A: There are many things that an owner can do to facilitate the rental process. It is important to keep your unit looking (and smelling) good. It is important to price your unit appropriately. If we recommend lowering the rent, the quicker that you do it, the quicker we will rent the property. Allowing us to put an electronic lockbox and fully advertise your property will allow it to rent faster.
Q: How will you help me determine how much I should rent my property for?
A: We will complete a rental analysis for you. This is our recommendation as to the market price for your property. It will also give you an idea how long it will take to rent your property. You are responsible for setting the rental price. The market will determine the price that people are willing to pay for the unit.
Q: How do I get started?
A: To start to market your property and begin service you need to complete and deliver to 85 & Sunny Property Management the following:
v Completed Property Management Agreement
v 4 Copies of all Unit entrance keys
v 2 Copies of any additional keys (mailboxes, pool, etc.)
v Garage Door Openers, Key Cards, Access Codes, Security Codes applicable to unit
v Homeowners/ Condo Association Documents
v $250.00 Maintenance Reserve
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