Answers to your frequently asked questions
General Service Questions
When do I get paid each month?We pay our owners by the tenth of the month but your banking institution may hold the funds for a day or two. It just depends on your bank. Our funds are sent to you electronically via direct deposit. Statements are email to your monthly.
Does Peace of Mind work with my Home Warranty?It depends. If the nature of the repair is minor and under $500.00 Peace of Mind will only utilize the home warranty if the item in need of repair has a low impact to the tenant.
Peace of Mind does charge an extra service fee any time a home warranty is used. This is because home warranties are time consuming to navigate, often require long hold periods, and multiple visits to the property.
For this reason, home warranties are best for large mechanical repairs that are non-emergencies.
Should I allow pets in my property?The choice is yours, but highly recommend that you allow pets. The reason for this is that over 60% of U.S. households have pets. If you do not allow pets, you are eliminating over half the potential rental market from the very beginning. We do charge additional Security Deposits for pets and will have you involved in the process.
Pool and Yard
Who maintains the pool?We require our clients to provide pool service for the tenants. The main reason being we want to make sure the pool is serviced correctly and maintained to your standards. Costs for the pool service will be charged to the owner and offset by rent revenue.
Who maintains the yard?We like to have the owners provide lawn care services. This will give you, the owner the piece of mine that the yard is being properly maintained. Tenants at times get busy and the yard may suffer. It is better to have lawn care than not. The cost is off set by the additional rent charge.
Selling Your Property
Should I list my property for sale with the tenant in the property or should I wait until they move out?We strongly recommend listing your home for sale once the resident has vacated whenever possible.
When a home is vacant it is easier to show and it is easier to control the homes appearance. Both of these factors can lead to less time on market which is key to a successful sale and a strong negotiating position.
Can Peace of Mind list my property for sale?Yes! Peace of Mind is a licensed broker in California . We have helped many of our clients buy and sell. Contact your property manager to discuss the benefits of selling with Peace of Mind.
Owner Portal Questions
How do I log into my owner portal?Go to Peace of Minds Website and go to the drop down on the “I’m an Owner” box at the top bar. Choose “Owner Statements” and enter your login information
I forgot my password to my owner portal, what should I do?Email your assigned property manager. You will receive a link to reset your password. Follow the instructions to complete the process.
Maintenance & Repair
How is maintenance handled?Peace of Mind Property Management was a wealth of Vendors and Contractors who we outsource our incoming maintenance requests. We have established relationships with reliable vendors and contractors that we have worked with for years. Per our management agreement, we handle all maintenance items that are under $500.00. We have found this to be a good limit for the day-to-day maintenance requirements. Any maintenance item over $500.00 will require your authorization before we proceed. In the event of an emergency to protect the property or health and safety of the tenants, sewer issues, tree damage to the property during the winter, we may handle these maintenance emergencies prior to obtaining your authorization. We will have you involved as soon as possible.
Can I do my own repairs?If you are of the mindset and have the time we encourage you to do the repairs at the property while the property is vacant. However, once the property is occupied, we ask that only professional contractors be used. This helps us protect as well as you from the possible pitfalls of speaking with and dealing directly with the tenants and the possibility of being accused of completing work in an unprofessional manner. We are looking out for you and want to protect you from any situations which could turn against you.
What is my reserve account?Your reserve account is a fund Peace of Mind uses to pay for repairs when they arise. This account is reimbursed with rent income each period to ensure the balance remains at $500.00. These funds are returned to you at the end of your relationship with Peace of Mind.
Why am I being charged for Trash and Recycling?The City of Sacramento requires that landlords provide and pay for trash and recycling. This does not prevent landlords from billing the residents back for this expense.
On your owner statement you will see “utility income” and a “trash and recycling expense”. The income offsets the expenses.
It is important to note that trash and recycling is billed every other month. For this reason, the income collected each month is only 50% of the total bill so that after two payment cycles, the full amount has been collected.
Is your property not in Sacramento? To simplify operations, Peace of Mind has applied Sacramento’s policy to all properties under its management.
What happens if my tenant does not pay rent?Because we placed the tenant in the property Peace of Mind Property Management will incurred all of the cost to evict the tenant up to $795.00 Yes we will pay for the eviction of a tenant for the failure to pay rent. We will handle the entire process form posting the notice to appearing in court.
What happens if my tenant breaks their lease?Unfortunately over the course of a year things happen that we cannot control. One of those things is a tenant deciding to break the lease. The upside is that early termination does not release them from their legal responsibility of the Rental Agreement. Per our rental agreement, we charge the tenant, who is breaking the rental agreement a re-renting fee along with holding them responsible for the utilities, rekeying the property and a few other expenses. They are responsible for the terms of the agreement and maintenance of the property until the lease term expires or per California law, until we can put a new tenant in place, whichever comes first. We will do everything possible by working with everyone involved to place a new tenant as quickly as we can.
What if a tenant damages something during their tenancy, what do you do?Your property manager will evaluate the move-in records and compare them with the move-out records. If it is confirmed that the damage was caused by the resident, then Peace of Mind will deduct the cost of the repair from the residents deposit.
How long will it take to evict a tenant for non-payment of rent?In Sacramento County, evicting a tenant for non-payment of rent is a very challenging process. Tenants in California have numerous rights and we must play by the rules. We will typically have a non-paying tenant out of the property within 45-60 days from the first of the month that they do not pay rent.
What do I need to do next if I am interested in obtaining your services?Well the next step will be for us to set an appointment to meet and view the property. At that time, we will review our management agreement, our marketing and screening programs along with viewing the home for readiness for a tenant.
Leasing and Screening Questions
How do you screen applicants?Peace of Mind has a robust screening process. Peace of Mind will review the following:
- Federal, California, Multi-State, and County background checks
- Verifiable employment
- Household is making 3-times monthly rent
- Contact previous managers/landlords
- Credit Report
- Credit Score
- Sex Offenders Registry
How do you market my property?We market your property on:
- Video Tours
- Corporate Rentals
- Our own website
What information can you share with me about my tenant?For fair housing reasons Peace of Mind will not share any information regarding the applicant until they have been approved or denied. Once an applicant has been approved or denied, Peace of Mind will only share limited details about the applicant such as household size and names.
Security Deposit Questions
Can I hold on to the tenants security deposit?Peace of Mind holds onto all deposits. In the past we have run into problems where owners would spend security deposits. Not to say that this would be you, but it is a problem and we retain all deposits to combat it. This also benefits you by making the move-out/turnover process accelerated meaning less vacancy time.
Does Peace of Mind earn interest on the security deposit?Peace of Mind earns no interest on our client trust funds. We have no intention of moving them to an interest bearing account at this time.
How do you determine how much of a deposit to charge?We will take first months rent as a deposit. However, depending on the households rental history and credit, the deposit may be increased up to 100%.
Can I use the security deposit to pay for general repairs and maintenance to get the property back on the market?No. A deposit can only be used to cover items “beyond normal wear and tear”.
If you withhold deposit money, when does Peace of Mind deliver the money to me?It depends on if you plan to re-rent the property or not. We generally disburse funds within 30 days of the resident vacating.