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Owner FAQs

Answers to your common questions

Are you licensed?

All of our Portfolio Managers and Accounting Staff have a Florida Real Estate Broker’s or Florida Sales Associate license.  WEICHERT, REALTORS® – Coastal City is a member of the National Association of Realtors (NAR) and the North Florida Association of Realtors (NEFAR).

Can I reach you after hours?

We have an employee on call service, which is available 24 hours a day for maintenance emergencies who understand property maintenance and are able to assist owners and residents with emergency needs that may arise after hours.

Can you put the money directly into my account?

Yes, we offer direct deposit to all of our owners.

Do I get to see the lease or sign it?

Once a lease is signed by your new tenant, your Portfolio Manager will sign it and send you an executed copy.  You are not required to sign the lease.  As part of our services, WEICHERT, REALTORS® – Coastal City provides you with leases and agreements designed to protect you, your investment, and your income.  Our rental agreement is very detailed and spells out the tenant’s responsibilities very clearly.  If you wish to see a sample copy of the lease we send to your tenant, we are happy to provide you with a copy.

Do you sell real estate too?

Yes, we do represent sellers and buyers of real estate.  With our distinct knowledge of investment/ property portfolio’s we offer not only our personal buying and selling experience’s but also the professional and local knowledge of the ever changing markets.

How and when do I get my checks?

Payments to owners are processed before the 15th of every month.

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

No, you are not required to have the property available for Section 8. 

How is rent collection handled?

Rent collection is at the heart of the WEICHERT, REALTORS® – Coastal City system. Our service to tenants provides a variety of payment options through our secure payment processing center for collection of all fees. The system is quick and convenient and allows the tenant to pay via: web-based payments, credit card payments, check mail-in, or check drop off.  

How long of a lease do you sign?

Our standard lease term is one year, but with owner approval and/or based on your community guidelines, we can do leases for shorter or longer lease terms.

How much security deposit do you charge the tenant?

The security deposit amount varies from property to property and usually equal to one month’s rent and cannot exceed an amount equal to 2 month’s rent. Payment of the security deposit is required in certified funds within 2 business days of application approval.

How soon can you start managing my property?

We can generally start managing your property within a few days, if not sooner, once we have the required documents/items.

What if my tenant doesn’t pay or pays late?

Rent is due on the 1st of the month and considered late on the 4th. WEICHERT, REALTORS® – Coastal City will post a “3 Day Notice to Cure” at the property if rent is not paid by the 4th of the month. If tenant does not respond with full payment or an approved payment plan in writing by the indicated date on “The 3 Day Notice to Cure” we will consult with the owner and move forward with eviction (also known as summary ejectment complaint).  We have not had to use the eviction process very often as our application process is very through.

What type of properties do you manage?

Residential; houses, condos, apartments, and townhomes

What type of reports do I get and how often?

Owner statements are uploaded to an online owner portal system monthly.  This statement includes monthly accounting as well as copies of any vender statements if repairs were required. 1099’s are sent every January along with an end of year cash flow report to assist owners in preparing their taxes.  Additional reports are available upon request.

Who holds the tenant security deposit?

A security deposit is collected from all tenants for your protection. These deposits are held in a non-interest bearing escrow account in accordance with Florida State regulations.