Owner FAQs
Answers to your frequently asked questions
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How do you determine rent amount?
We use 3 different data sources to create a detailed comparable rental analysis report for you. The report will show rent values and days on market for similar properties in the same area that have been rented or are currently on the market over the last 6-12 months. We make it a point to compare apples to apples to help you decide on the best rental price that will open the market vs narrow the market. -
What are your income and screening requirements for applicants?
Rental screening requirements:Government Picture IDs
Employed with a verifiable household monthly gross income of at least 3x the rent
Credit Check:
600 or higher (Pass)
575-599 (Conditional) Requires increased security deposit of 2 to 3 times the monthly rent
540-574 (Higher Risk) Requires double security deposit and qualifying cosigner
539 and below (Automatic Denial)60 days’ recent pay stubs
2 years Income Tax Return and 3 months’ bank statements for self-employed
Good references and verification from current & previous Landlords
No evictions in the last 3 years
Evictions within last 3 to 5 years require balance paid off and higher security deposit
No Felony Conviction record within 7 years for any of the following: Murder, Manslaughter, Assault, Robbery, Rape, Child Molestation, Kidnapping, Arson, Manufacture, Delivery, the sale of Illegal Drugs, or Possession with Intent to Deliver
No Registered Sex Offenders
Good attitude and ability to cooperate during the screening process
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How do you collect rent from tenants?
Our tenants pay rent through their online tenant portal which pulls money directly from their bank account or their bank card. This is very convenient for them and for us because payments clear our accounts quicker. -
What control do I have over the tenant placement and lease agreement?
We do allow for owner input. Keep in mind, we have been doing this for a long time and have executed many successful leases...Our screening process and lease agreement is extremely comprehensive and designed to protect you….so we encourage you to leave this to us and depend on our experience. -
How do security deposits work?
Typically, security deposits are equal to one month’s rent in some cases more. The deposits are held in our secure trust account. When tenants move out we inspect the home and withhold anything above and beyond normal wear and tear. The money is credited to you to be applied towards maintenance and repair if necessary. -
How are pet policies handled?
We use a service called Petscreening.com that verifies the pet's breed, background, and records.
We are so confident in the pets that we place...Hidden Holler Rentals will pay up to $1000 in pet repairs that exceed the tenant security deposit for pets that we place You have the right to choose the type of pet, breed, and size. You can refuse pets but keep in mind that around 65% of today’s renters have pets. So by allowing select pets, you can increase the demand on your property which helps in getting the top price in a shorter amount of time.
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How many days a week are you available to show the house, and at what times?
Every day. -
Do you allow Owners to be involved in approving the Applicant?
We do not for a few reasons The goal is to follow a proven system and set of checklists...to remain objective vs subjective and to avoid mistakes and liability
We have systems in place that work to better serve you. We do this day in and day out and have a screening process that we do not deviate from to ensure success and decrease liability.
We also want to protect you and us from Fair Housing Lawsuits that can easily result in not following our system verbatim for everyone. And also sharing sensitive screening info with Owners
Here is a link to our screening parameters. And if we approved the applicant...that means that they have passed and that's all that is necessary to avoid liability and avoid making statistically bad judgment calls https://www.americanbar.org/newsletter/publications/law_trends_news_practice_area_e_newsletter_home/10thingslandlords.html
You chose us for a reason. Because you felt that we can manage your property effectively...which we will do as long as we follow our systems and procedures.
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Furnished vs Unfurnished?
Unfurnished properties appeal to the masses and will have higher demand. They will rent quicker and have less vacancy and decreased liability. Traditional tenants have their own furniture and want to bring it with them. Furnished properties appeal to non-traditional tenants who want short term leases. They can potentially rent for a higher price but are in less demand therefore you may experience higher vacancy rates, increased tenant placement cost and increased liability to your personal property. Hidden Holler Rental leases are typically 3- 12 months and could appeal to short term tenants that want fully furnished properties and long term tenants that require no furnishings.