Owner FAQs
Answers to your frequently asked questions
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Am I required to make my property available to Section 8?
Yes. Tenants are still required to meet all credit and income requirements. -
Are you licensed?
Yes. We are licensed by the state of California Department of Real Esate. -
Can I reach you after hours?
Normal operating hours are Monday - Friday 9am-5pm. For non-emergent nights and weekend calls, your call will be responded to on the following business day. -
Can you put the money directly into my account?
Yes. We pay owners by Electronic Funds Transfer to their designated bank account. -
Do I get to see the lease or sign it?
We do not go over leases with owners prior to lease signing however signed leases are uploaded and available through the owner portal. -
Do you sell real estate too?
As licensed brokers in the state of California we do sell properties. -
How and when do I get my checks?
Owners can expect to receive rental income distribution within the 1st week of each month but no later than the 10th. -
How is rent collection handled?
Tenants make payments directly to Elite Real Estate Services. Rent is due on the 1st and considered late if not received by the 5th. We handle all late notices and collection for any uncollected rents. -
How long of a lease do you sign?
12 months -
How much security deposit do you charge the tenant?
Our minimum security deposit amount is the rent amount plus $300. If the property rents for $3000, the minimum deposit would be $3300. -
How soon can you start managing my property?
We are available to take over management duties immediately as long as the property meets our renting standard. -
What type of properties do you manage?
We manage single family homes, condominiums, townhomes and small apartment communities. -
What type of reports do I get and how often?
Owners can access rental owner reports including all income and expenses through our owner portal. -
Who holds the tenant security deposit?
Elite Real Estate holds all security deposits in a non interest bearing Broker Trust account.