We will run a market analysis to determine the appropriate rent amount to attract a qualified tenant as quickly as possible while maximizing your income. Factors such as property condition, location, and time of year may affect how quickly the property will lease. We follow up on leads daily and will provide you with a weekly update on lead activity and feedback so that we can adjust our listing as necessary.
We adhere to Fair Housing practices and will not discriminate on the basis of race, color, religion, sex, handicap, familial status, or national origin. We WILL deny an applicant the basis of creditworthiness, monthly income, and/or rental history. Upon receipt of an application you can trust that we will:
- Review the applicant’s ID
- Run a credit report
- Conduct a criminal background check
- Check public records for any past evictions
- Verify employment
- Verify monthly income
- Verify landlord references
In the event that we have multiple applicants, we will lease to the most qualified applicant. All else being equal, we will accept the applicant who can pay a security deposit first and move in the soonest.
Our tenants make all payments to RENU Management via our online tenant portal. This ensures that you received your funds as quickly as possible. The date on which a tenant pays will influence when you receive your funds, but as long as a tenant pays before the 5 day grace period expires on the 5th of the month, it is reasonable to expect your funds by the middle of the month.
We do our best to protect your interests and place tenants who will pay the rent on time. Sometimes tenants still pay late. Our lease includes a 5 day grace period. If rent remains unpaid on the 6 th then the tenant is automatically charged a 5% late fee. The late fee increases $10/day thereafter until the rent is paid. When necessary, we will issue a demand notice for the tenant to pay rent or face removal . If they still fail to pay, we will proceed with a legal removal.
Your payment may vary from month to month if there are any bills on your account. You should typically expect to receive rental income less the monthly management fee outlined in your Management Agreement. You may have other bills from time to time for items such as property repairs, utility bills, or leasing fees. We send out monthly statements to detail all income and expenses on your account.
We provide our tenants with a 24/7 Maintenance Hotline so that they can submit requests as quickly and easily as possible. We will address general maintenance during regular business hours. Emergencies are addressed immediately based on our experience and discretion. Your management agreement includes a threshold above which we will request your approval for repairs This threshold does not apply to emergencies when we determine the repairs are necessary to protect the property or the health and safety of the tenant.
The online Owner Portal is where we will publish your monthly financial statements, annual financial statements, and yearly 1099s. You can also view your Management Agreement, tenant lease agreements, and property inspections. You can also “make a contribution” on the Transactions tab if you ever need to send us a payment to fund a bill.
We send out 1099 tax documents by the end of January each year. Unless you have opted to only receive a digital copy, you will receive a copy by email and US Mail. We will also issue a separate consolidated year-end statement showing all income and expenses for your properties to supplement your 1099. These will be stored on your online Owner Portal for easy reference.
Our team is structured into multiple departments including Maintenance, Tenant Management, and Accounting to best meet your various needs. You will receive an employee directory at the beginning of our relationship. When in doubt, you can always call the main office and follow the prompts on the phone menu.