As long as the money is available in the tenant’s account, rent is distributed on the 10th, 20th, and 30th of each month. Please allow up to 5 business days for the transaction to go through.
We generally accept first and last month’s rent, plus a security deposit totaling one month’s rent. The security deposit is held by the Clients, as mandated by the state of Pennsylvania’s Real Estate Agency to be returned within 30 days of lease termination.
Utilizing our website, social media profiles, as well as traditional methods of listings such as Zillow, MLS and newspaper publications, LPM listings reach countless potential tenants almost immediately. It normally takes two to four weeks to rent a home. It sometimes takes longer in the winter. A home goes on the list of available properties as soon as we receive notice from the existing tenant and permission from the owner to re-rent.
Many factors affect the speed with which a property rents including supply/demand, time of year, location, and condition.
Primarily through the security deposit charged upon initial move-in, and damage rarely exceeds that amount. Should the tenants leave the property owing more than is covered by the security deposit, they will be billed. If they do not pay, it will be turned over to a collection agency.
As flexible and accommodating managers, we’re more than happy to work with your own service personnel.
The first step is to have it professionally cleaned. This is crucial in the success of finding a replacement tenant and keeping the standard up to par. In particular, please ensure the carpet is deep cleaned and all personal belongings are removed from the property. Fixtures and window blinds should remain, and dirty or marred walls should be repainted.
Appliances and lawn care policies depend on the property, so please address these questions to your property manager.
After a grace period set by LPM is not met, we deliver a last warning to either pay or vacate the property. If they have not paid by the end of the warning period, we will notify the owner and file at the courthouse for a FED (eviction) hearing, which will be within ten to fourteen days. LPM uses an eviction service this saves time and aggravation the flat fee is $400. The faster we get rid of a bad situation the quicker we can get a more qualified tenant in place.
As competent property managers, LPM handles all emergency and late-night calls. If the situation calls for it, you will be notified about what is happening through your online portal on our website.
Each situation is assessed on a case-by-case basis. Regularly, we do not. If the property is in a state of extensive disrepair we may need to.
Each property is assigned an asset manager based on location; this asset manager will serve as your primary contact point for all issues concerning your property.
They forfeit their security and last month’s rent while LPM immediately begins looking for a replacement.
My property manager has suggested that I paint, replace a few rooms of carpet, and have the house power washed before placing it on the rental market. I’m not selling - why should I go to all this trouble and expense for tenants?
In laymen’s terms “you get what you pay for”. Your tenants are the return for your investment. When you invest in your property and make it presentable, comfortable, and desirable to live in, the rent your tenants pay reflects that. Better homes bring better tenants and higher rents.
We would then only take over the complete management of the property for the monthly service fee of 7% of monthly rent per month.
Of course. Allow one our investment specialists to assist you in locating, purchasing, financing, and insuring a new property.
Tenants have the convenience of paying their rent through our online tenant portal and, or our app.
LPM manages homes in several states and as such, criteria do vary. Generally, though, landlords appreciate the consideration of the following factors:
- Satisfactory credit history
- Monthly income about three times the monthly rental amount
- No outstanding judgments
- No past rental evictions
- Established history of credit since a past bankruptcy
- Employment verification
- Criminal record check
- Present and former landlord references
All properties are offered subject to the Federal Fair Housing Act which makes it illegal to advertise any preference, limitation, or discrimination based on race, color, religion, sex, country of national origin, handicap, or familial status.
All rental payments are due on the 1st of each month.
Primarily, our application process is not credit driven. However, you will have to meet the criteria demanded by the landlord which may be credit driven, depending on the location and property.
Acceptable forms of payment for monthly rent are ACH check, Paypal or Credit Card.
There is no charge for our leasing staff to help you to find a home. If you decide to submit an application to rent one of our properties, there is a $50 charge for the credit and application background check.
If you plan to stay in the unit after a roommate moves out, please contact our office so we can draw up new paperwork for you. If you have chosen a new roommate, they need to contact our office and complete an application as well as pay the $50 screening fee.
Only after screening and approval will they be added to the rental agreement/lease and be “legal” to live there.
Applications are usually processed within 48 hours.