Owner FAQs

Our system is designed to yield the highest quality tenant as quickly as possible. We also ensure that the selection process happens in a way that conforms to all Fair Housing laws.

Attorneys say the best way to reduce the risk of a Fair Housing violation is to have clear, non-discriminatory rental criteria, that is written and transparent. Most owners do not have written rental criteria.

To help keep our owners out of trouble, we developed objective, non-discriminatory, written, rental criteria that is posted on our website.

Getting our homes rented fast is key to our success and happy clients. We generate as many qualified leads for the home as possible. We do that by:

1. Using syndication to list the property on the top rental websites. We design the ads in a way to make it easy for prospects to understand the terms and our rental criteria.
2. We take high-quality property photos that appear on our ads.
3. When prospects call, we walk them through our rental criteria to ensure they are a viable prospect and work to get them to the property for a viewing quickly.
4. Properties are available for showings every day of the week with a real estate agent hosting or with our electronic lockbox technology.

We are available around the clock for any maintenance situation that might arise at the property. Tenants can request maintenance via phone, email or through their dedicated tenant web portal. This portal allows tenants to submit a work order request by providing a description of the issue as well as upload photos of the issue, when appropriate. Tenants can also track the status of their request online.

When a request comes in, we assess it to see if it needs immediate dispatch or if we can possibly troubleshoot the issue with the tenant. There are many common repair requests our team members are trained how to troubleshoot. If a repair is needed we send a work order to one of our vendors.

The assigned vendor will contact the tenant to set up a time to make the repair. We make sure the cost of the repair is fair and that the work was completed satisfactorily.

Once a repair is completed and invoiced, we email the tenant a survey asking them to confirm the repair was completed satisfactorily, that the vendor was professional, and to rate their overall experience with the vendor and our team.

Yes, we have a list of preferred vendors we use. To be a preferred vendor they have to:

1. Sign our vendor agreement, where they agree to a certain standards and a code of conduct.
2. Carry insurance as necessary.
3. Deliver great service and quality work.

No. Our fee covers the coordination of needed services, not the services themselves.

We can certainly make some of our great vendors available to our owners. We have plumbers, flooring installers, cleaners, appliance repair, and other trades people who provide great service and we are happy to refer them to our clients. Some trades like handymen, we do not refer out, as good ones are hard to find and we keep them very busy.

Over the years we have worked many different service providers . Cost is always important, but as you know, sometimes you get what you pay for. The contractors we use provide quality workmanship and competitive pricing.

With that said, we are always willing to try someone new. However, we do require that they have appropriate licenses, complete a W-9, and insurance as required by law. If you would like us to consider using your contractor, please provide us their contact information so we can reach out and see if they are a good fit.

If the property is vacant, owners can handle the repairs needed to make the property rent ready, if they choose. In these instances though, to avoid confusion as to who is responsible for what portion of the turnover process we ask that the owner either handle all of the work or none of the work. Once the property is leased, we require that we use only our preferred vendors. This ensures leasing deadlines are met, as we work with these vendors regularly and know what to expect.

As long time property managers we have developed a pretty clear idea of the costs associated with the most common repair items. Since that’s the case we do not need to get multiple bids for routine maintenance tasks. On larger projects like replacing an AC unit, replacing a roof, large painting projects, etc., we definitely get multiple bids to ensure you are getting a fair price.

Our residents pay 52 Bridges Property Management and we deposit their rent into our Broker Trust Account. Upon receipt we direct deposit the rent, minus the management fee, and any other expenses, into the bank account of your choice.

At the beginning of each month we provide you with an owner statement. The statement shows income and expenses for the previous 30 day period.

Statistics show that over two thirds of the population have a pet of some kind. By being open to pets you will increase demand, thus keeping your vacancy rate to a minimum. However, by allowing pets you also increase the risk of property damage. Like so many things in life, this becomes a question of risk vs. reward. If maximizing your annual rental earnings is important to you, you may want to consider allowing pets. If you would prefer to mitigate any risk of damage you may choose to say no pets.

If you are open to a pet, we always use the verbiage, “pets considered”. In this way we can ensure that the pet in question is a good fit for the property.

In all cases we do limit the pets that will be accepted. Aggressive breeds like Doberman Pinscher, Mastiff, Boerboel, Rottweiler, American Bulldog, Presa Canario, Pit Bull and similar terrier breeds, Chow, Dogo Argentino, German Shepherd, Husky, Bandog, Wolf Hybrids, Akita, Fila Brasiliero, and Tosa Inu are not accepted.

In all instances if a pet is accepted it will be with a pet deposit to ensure that if there is pet related damage caused by the tenants pet we have funds available to correct it.

IMPORTANT NOTE: Service animals and emotional support animals have become an important part of the rental landscape. Service and support animals are not considered pets under Iowa law. As landlords we cannot deny a tenant’s application because they have a service or emotional support animal. Obtaining paperwork certifying an animal as a support or service animal has become as simple as downloading paperwork from the internet.

We generally charge $500 per pet.

We lease the vast majority of our rentals in 3 weeks or less. If a property is available longer than that time period it tends to be an indication that the price is out of line with the current rental market. As your manager we will keep you apprised of all activity (calls, emails and property showings). If after multiple showings the house or condo is still not rented we usually recommend acting quickly to adjust the price. Vacancy, not lower rent, tends to be the number one factor in killing a rental properties profitability.

We advise against the owner having contact with the tenant. One of the biggest benefits of having a property manager is that we act as a buffer between you and the tenant. By opening up a dialog with the tenant you increase the likelihood that they will contact you directly, usually in instances where the intent is to ask for a “favor” (Can I pay the rent late this month? Can I make this or that repair and deduct it from my rent? Can I break my lease without penalty?). Tenants typically don’t request “favors” from property managers. When they do, and that favor is outside of the agreed upon lease terms, we say no. By relying on us to be the main point of contact you never have to say no.

If you think you have a great tenant lead send us their information. All tenants must go through our application process, even if you know them. Keep in mind, renting to friends or family can get complicated, so proceed with caution.

We are so confident in our ability to pick quality tenants that we back up all of our tenant placements with eviction protection. If we have to evict a tenant we chose, we will cover the first $500 of any court costs and legal fees.

At 52 Bridges, we want to ensure that we are the best fit for every investor. Since thats the case we do not require a long term commitment. All of our owner agreements are month-to-month and can be cancelled at anytime with just a 30 day notice.

As a rental property owner you will need to carry a Landlord Policy. This has specific coverages important to landlords, so it is important that you have this type of policy in place.

Let’s imagine a scenario where a tenant trips at the property, breaks her leg, and decides to sue. It’s most likely that she and her attorney will sue you AND 52 Bridges Property Management. Your insurance will defend you. Since we are acting as your agent, we need that same protection. Our management agreement, like all management agreements, has an indemnification clause that says you agree to indemnify 52 Bridges Property Management, unless we are found to be negligent. This means, if your insurance does not cover us we have to hire an attorney on our own. In this scenario our attorney would be representing us against your attorney and the tenant. If we are found not guilty, our attorney would pursue you for the attorney fees. Had we been added as additionally insured on your policy, your insurance company would defend us both equally. Most major insurance companies do this for no additional charge. The added benefit is that should there be an issue at the property that requires you to make an insurance claim, we are authorized to work with the claims adjuster on your behalf.

We carry General Liability, Workers Compensation, & Errors & Omissions insurance.

In today’s fast-paced real estate environment, prospective tenants want on demand service. Self-directed showings are designed to allow great, pre-qualified prospective tenants to view your property on THEIR schedule. This technology allows tenants to view vacant properties at their convenience, after a quick pre-qualification. This is a great option for prospective tenants who can only view the property before or after normal business hours.

Yes! The majority of our tenants pay their rent online. They can also submit maintenance requests through their tenant portal.

The owner portal is where we publish monthly financial statements. Owners can also make contributions to their account for repairs and keep important documents like leases, all in one place.

A lease is a legally binding contract and cannot be cancelled unilaterally. Only with the agreement of both parties can a lease be terminated early.

The terms in our management agreement are integrated into our management systems. It is hard for us to change terms without having to change our processes. Most of the time we cannot change our agreement. If you have a specific concern, we are always open to addressing it with you.

If you are considering making a change in property management services, give us a call. We are happy to walk you through the process. In most instances, as long as you are outside of the term of your initial property management agreement we can help you to facilitate the transfer of management responsibilities to 52 Bridges Property Management.

Rent is due on the 1st and late on the 4th, giving the tenant a 3 day period during which time they can pay rent without penalty. If the rent is not received by open-of-business on the 4th we contact the tenant to find out what is causing the delay. We then deliver a 3-day notice to the tenants to pay rent or quit. Serving the 3-day notice is the first step in the eviction process.

If we do not receive the rent after the 3-day period expires, we notify you. We will give you our recommendation on how to best proceed. Options include moving forward with the eviction process or working out a deal with the tenant.

We’ve all heard the horror stories. The truth of the matter is that instances where tenants cause catastrophic damage to a home are extremely rare. We strictly screen tenants upfront, so tenant damages are typically limited. However, even with the strictest of criteria, things can happen. Only a small percentage of our move out dispositions have tenant damages exceed the security deposit. In that event, we try to collect the sum from the tenant. Should the tenant not pay, you can sue them in small claims court for the balance owed. We do not act as debt collectors, but can refer you to companies who can assist you.

The tenant is required to pay rent until the property is re-rented. Our lease agreement covers this topic so the tenant knows upfront.

52 Bridges Property Management will hold the tenant security deposit in our non-interest bearing Broker Trust Account. By law, those funds belongs to the tenant and can only be used for past due rent or damages.

As a landlord you are not required to provide a refrigerator, washer or dryer, but there can be some advantages to including those items. If you are trying to decide whether or not to leave your refrigerator, washer or dryer let us know and we will be happy to walk you through the advantages and potential drawbacks.

52 Bridges Property Management does not handle furnished rentals. Should you choose to rent furnished, we can refer you to a company who can assist you.

We do not recommend leaving personal property. There is no good way to protect your personal items, nor is there a good way to prove the tenant damaged it. In most cases the tenants would prefer not to have your personal property at the house as it takes away room to store their own property. Additionally, the tenants don’t want to be responsible for the property owner’s personal property. It is acceptable to leave a reasonable amount of household items (paint, sample flooring, special cleaner, etc…) neatly tucked away in one corner of the garage.

We generally offer tenants a 12 month lease term.

If your property has high maintenance landscaping, you should include a gardener. If your yard is relatively low maintenance it can make sense to have the tenant care for it. We have a few landscapers we work with who provide great service at reasonable prices should you decide to offer the property with landscaping included.

If you have a pool you always want to include the cost of pool service with the rent. Pool equipment is very expensive. It’s best to have only qualified professionals handling regular maintenance and repairs when necessary.

We do not pay mortgages, but are happy to pay your other bills like monthly homeowners association dues. Per our agreement we require that you carry a reserve fund equal to the total of the recurring bills.

If you decide to sell, please alert us before you commit. There are a number of things that we can do on our side to make it a successful transaction. While you can sell a property while the tenant is living there, there are some distinct disadvantages.

Occupied homes generally do not show as well as vacant or professionally staged homes. These homes are also harder to show as agents must work around the tenant’s schedule and give 24-hour notice to show. If the tenant has multiple months left on their lease, the only prospective buyers will be investors. This cuts out the largest majority of buyers, the owner-occupant. If the lease is coming to an end, the tenant keeps the home in great shape, and the tenant is easy to communicate with, then it may make sense to list it for sale while occupied. We can guide you on the right approach for your situation.