Owner Questions

Owner Questions
Have a question? Here are some we're asked most frequently. If your question is not answered here, please text us using the red bubble on the bottom right.

Prospective Owners

  • What are your fees?

    Our standard residential management fees are 9% or $55 minimum per month, whichever is greater. Our leasing fee is 1/2 of the first full month's rent . Please contact us for more details.

  • Where do you find residents for my property?

    We market on many different websites in addition to our own, including ZIllow and REALTOR.com, and are members of the Memphis Area Association of REALTORS® Multiple Listing Service (MLS). Through the MLS, we market your property to all licensed real estate agents who are REALTORS®, allowing professional agents to help their clients find properties to lease.

  • How do we move forward with Renshaw managing our property?

    Please contact us! You will be connected with one of our experts who will be able to go over our services, answer any questions you may have, run pricing for comparable listings, visit your property, and make any recommendations as to what your property may need.

  • Can you come out and tell us what we need to do to get our property ready to list?

    Yes! Being experts in all aspects of investment property from acquisition through leasing, we provide advice on what potential residents may or may not like. For example, some updates may be undesirable to potential residents (such as painting the interior a bold color) and are best to avoid. We perform walk through inspections of all residences prior to listing and itemize all proposed maintenance and updates as part of getting the residence ready to market. In general, we focus on making sure a property has all systems and fixtures in good working order and that the property is professionally cleaned.

  • When should we start listing the residence?

    The ideal time to begin marketing a residence can vary, and we like to customize our listings for maximum efficacy for each owner's property. That said, properties that are vacant and rent-ready should be marketed immediately. Contact us to get started.

  • What happens if residents don't pay rent?

    Rest assured that we do our best to find qualified tenants for all properties, but we cannot guarantee that all residents will uphold the financial requirements of a lease. As your property manager, we will be your advocate in the enforcement of the terms of the lease. If a tenant stops paying, we will, with your approval, move forward with any necessary legal proceedings, and, if necessary, see through the eviction process on your behalf. As the owner, there is always risk in being a landlord, and the financial responsibility to enforce the terms of the lease will fall upon the landlord, though we will be your representative and work on your behalf.

  • What rent amount can I expect?

    As part of our services, we do a market rent analysis of each property. We look at historical rents and days vacant of comparable properties as well as looking at current listings and market trends in suggesting an ideal rental price for your property.

  • How can I get more rent?

    In general, potential residents want a home that is clean, updated, and fresh. Please contact us to discuss comparable properties and any suggested updates to get your property rented for an optimal price as quickly as possible. Please be aware that vacancy times due to rent priced too high are often more costly than any potential benefits from the higher rent amount.

  • What makes you different from other property management companies?

    We at Renshaw strive to provide great value for our owners. We are dedicated to providing top-quality service to all of our stakeholders, and we work hard to protect our owner's investments. Our dedicated team of experts will work with you through all phases of the investment process, from acquisition through leasing and management, all while keeping you top-of-mind.

  • Why are there some negative reviews online?

    A number of the complaints fielded on our review pages are from tenants who were unhappy with not receiving their full security deposit or prospective residents who were unable to apply for a property because it was already leased. If you have concerns about an issue brought up in an online review, we would be more than happy to discuss the matter further with you.

  • How much should I expect each year in maintenance costs?

    Maintenance costs can vary based on a multitude of factors: age of systems on the property, natural surroundings, etc. We can discuss potentialities with you to help you budget your maintenance expenses, though there are always potential unexpected items (burst pipes, appliance failure, etc.) that can effect any property.

Current Owners

  • What if I forgot the password to my owner portal?

    You can easily reset your password on the portal login page. If you have trouble with this, please contact us, and we'll be happy to help.

  • When do I receive my owner payments?

    Payments to owners are processed by the 15th of each month.

  • My property is vacant; do I still get charged a management fee?

    No, our management fees are based on the rent receipts of the property; however, the financial responsibility for other costs such as utilities, maintenance, etc. will still rest with the owner.

  • What happens to the security deposit from my resident?

    All security deposits are held in a separate trust account in accordance with all applicable state laws. Upon resident move-out, a move-out inspection is performed to determine how much of the security deposit is returned to the resident. Please contact us if you have any additional concerns.

  • What are my responsibilities regarding owning investment property in Tennessee and/or North Mississippi?

    Ownership of rental property is governed by applicable Landlord Tenant Laws. These can be found on a state-by-state basis--if you have any questions, please contact us.

  • How much is your marketing fee?

    Our standard "marketing fee," which we call a leasing fee, is equal to 1/2 of the first full month's rent. We charge no other fees related to marketing.

  • How do I pay management fees?

    Management fees are deducted from your monthly rent proceeds.

  • What if my resident does not pay?

    If rent is not paid on time, we will alert you to a potential delay in your owner proceeds for that month.  Once rent is deemed late, residents are required to pay via certified funds, and applicable late fees will be enforced per the lease agreement.  If a resident fails to pay rent completely, their account will be considered delinquent, and one of our Resident Services Specialists will discuss your options with you as to how to proceed, including service of notices, collections, legal actions, and eviction proceedings.

  • How much can my investment property lease for?

    The lease rate for a specific property depends on several factors including property condition, location, and rental rates for competing homes in the surrounding area. We will perform an analysis of comparable homes for you whenever a new leasing agreement or lease renewal is imminent.

  • What is done after a resident moves out?

    Once possession of the residence is transferred, we perform a thorough move-out inspection of the property. During the inspection, we identify items that should be charged to the former resident. We also make recommendations of work to preserve the value of the property and decrease vacancy time. We strictly follow the guidelines of all applicable Landlord Tenant Laws to resolve the resident's security deposit to oversee any repairs, cleaning, or unpaid balances as necessary.

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