Owner FAQ's

Owner Frequently Asked Questions

• Am I required to make my property available to Section 8?

  A: No, it is your choice if you choose to accept Section 8 Housing vouchers.

• Are you licensed?

  A: Yes, Foundation First Property Group, LLC has been a licensed brokerage since 2017

• Can I reach you after hours?

  A: Our office hours are 10am to 4pm, Monday-Friday. Our phone system is set up to accept emergency calls after hours. Additionally, we can be reached via email at office@foundationfirstpg.com

• Can you put the money directly into my account?

  A: Yes, we offer direct deposit of your monthly owner draw. Please allow 2-3 business days for the funds to clear your account from the date of transfer.

• Do I get to see the lease or sign it?

  A: As your property manager, Foundation First will sign the lease on your behalf and a copy of the signed lease will be uploaded to your owner portal.

• Do you sell real estate too?

  A: Yes we do! We assist our clients with selling their investment property when that time comes or purchasing additional properties to add to their portfolios. Oftentimes, the tenant will even purchase, making it a win-win for everyone. Contact our office today for a free property evaluation!

• How and when do I get my checks?

  A: Owner draws are electronically deposited on the 10th of every month. If the 10th falls on a weekend or a holiday, the owner draw will be deposited the next business day. Please allow 2-3 business days for funds to completely clear your account from the date of transfer.

• How is rent collection handled?

  A: Rent is due on the 1st of every month and is considered late after the date specified in the lease. Tenants have the option to pay their rent online, by mail or in person. If rent is late, we take all the necessary steps to get you the rent or reclaim your property through the local eviction process.

• How long of a lease do you sign?

  A: Our leases are typically 12 months. If the initial lease term goes well and our walkthroughs have given indication that the tenant is taking proper care of the property, we will offer a 12 month lease renewal 60 days prior to the lease end date. Of course, the market rent and lease renewal details are all communicated with the homeowner ahead of the offer being made to the tenant. Longer lease terms are considered on a case by case basis.

• How much security deposit do you charge the tenant?

  A: We charge a security deposit of 1 month’s rent based on good credit. If a credit score falls short of what is accepted, an applicant may be asked to provide a double security deposit.

• How soon can you start managing my property?

  A: After a management agreement is signed and a start date determined, we begin the on-boarding process immediately.

• What type of properties do you manage?

  We manage single family homes, townhomes, condos, duplexes, multi-family, storage and commercial properties.

• What type of reports do I get and how often?

  A: Owners will receive a monthly financial statement. This report is uploaded to the owner’s portal and shows the income and expenses incurred on the property during the previous rent cycle. A cash flow summary report will accompany each owner’s statement. Work orders and paid invoices are also uploaded to the owner’s portal as they are processed.

• Who holds the tenant security deposit?

  A: Foundation First Property Group, LLC, holds and disperses the security deposit in our secured escrow account through a local banking institution. We also handle the security deposit accounting and disposition as part of our normal duties.