Frequently Asked Owner Questions
+ HOW DOES BRADEN PROPERTY SCREEN POTENTIAL RENTERS?
Before signing a lease with a prospective resident, we ensure each adult living in the home meets our rental criteria. We screen their credit, criminal, and landlord/tenant history. We abide by Federal Fair Housing Laws and the Virginia Residential Landlord and Tenant Act. We pride ourselves in our track record of attracting residents who are both respectful of your property and financially responsible. We are happy to share a full list of our rental criteria and discuss any questions you might have.
+ DO I HAVE A SAY IN WHO WILL RENT MY PROPERTY?
In order to adhere to Fair Housing Laws, we do not give out applicant information to owners before approval. We follow all laws and zoning regulations to only allow the appropriate number of people to rent a home. And allow leases only to be signed by those who meet our excellent criteria, outlined above.
+ CAN I MAKE CHANGES ON THE LEASE FOR MY PROPERTY?
Our lease is a standard Virginia Association of Realtors lease. If you have any special stipulations regarding your property, please let us know so that we can determine the best way to accommodate your request.
+ DOES BRADEN PROPERTY REQUIRE THAT RESIDENTS HAVE INSURANCE?
We require $100,000 of liability insurance coverage from our residents.
+ HOW ARE RENTAL COLLECTIONS HANDLED?
Our residents have several payment options, including paying online for free or by credit card. This is convenient for our residents and translates to timely rent payments for you. Even with the ease of payment, we do sometimes have residents who run into financial difficulty paying rent. We try to work with resident’s to the best of our ability, but should eviction become necessary we will take the appropriate steps on your behalf, as permitted by law.
+ HOW QUICKLY DOES BRADEN PROPERTY PROCESS THE MONTHLY RENT AND STATEMENTS FOR PROPERTY OWNERS?
Your owner distribution will be initiated on the last day of the month and your statement sent to you a day or two later. You can elect to get an ACH deposit to your account, or have a check mailed to you. Any expenses that are pending will be deducted from the rent prior to disbursement. In cases where there is no upcoming income, we may require more reserve or we may hold the distribution back to ensure adequate funds for any bills.
+ WILL I BE ABLE TO USE MY OWN CONTRACTORS TO WORK ON MY HOME?
We have relationships with quality vendors across the Charlottesville area that provide the highest level of work for the most cost-effective rates. We highly recommend using our network of vendors and contractors, however, we can continue to use any preferred service provider you may have. We are always looking to establish new contractor relationships provided they meet the same standards we have for our other contractors, including providing proof of insurance, professional behavior, and appropriate response time.
+ WILL I BE TOLD BEFORE ANY WORK BEGINS ON MY PROPERTY?
We do like to keep our owners informed about work being completed at their property. For small repairs we will notify you while we go ahead and take care of them. If the repair is over the maintenance reserve limit (and not an emergency) we will discuss with you before proceeding. However, in an emergency situation we will complete necessary repairs as quickly as possible to protect your home from further damage. Once the situation is under control you will receive notice from your property manager and discuss any future steps required. For any maintenance issues, you’ll see any expense shown on your monthly statement.
+ HOW OFTEN AND IN WHAT WAY ARE PROPERTY INSPECTIONS CONDUCTED?
These are types of inspections that we perform:
- Move In Inspection - An inspection is done prior to the resident moving in which details the condition of your property.
- Annual inspection - Annually we inspect the exterior and interior of the home to assess any preventative maintenance that might be required.
- Move Out Inspection - When the residents have vacated your property we will assess if any damage was caused by the resident and what, if any, normal wear and tear items need to be addressed during the Turnover period. If damage is found, we will impose a claim against the resident’s security deposit.
- Smoke Detector/Carbon Monoxide Detector: Every 12 months we certify that these alarms in the home are current, operable, and in required locations. This certification form will be shared with the resident and you.
- Additionally, we ask our vendors to be our eyes and ears and let us know if they observe anything amiss.