FAQ's

Q: As a Property Manager, what do you do for me?

A: Property Management is made up of four major components: Collecting Rent, Paying Bills and Expenses, Bookkeeping, and Coordinating Repairs. These are our services to owners.

Q: As an owner, how do I pay for repairs?

A: We run all funds through a trust account. We do not have owners pay directly with few exceptions, and this is also how we collect rent.

A: We do strive to get your deposits to you sooner than later, but rents typically come in from the 1st to the 5th of the month and take up to 10 business days to clear. We want to make sure your funds are cleared by the bank, so normally we expect the rents to come to the owners between the 14th and 18th of each month.

Q: As a property manager, do you charge for repairs?

A: Unlike most property managers, we do not charge a fee to coordinate repairs. The owner pays for the repair only, and they have the option to use their own vendor or one of the vetted and trusted vendors in our network.

Q: As a Real Estate Agent, can I lease out a property and have you manage it for my client?

A: Of course, we happily work with many Real Estate Agents and understand that your client is your client. Therefore, we will act in only a Property Management role, and should your client express other real estate needs, you will be the first to know.

Q: As an owner, are you able to help me find a tenant ?

Q: As a Property Manager, what types of properties do you manage?

A: We manage all sorts of properties, between single family homes and multifamily buildings.

Q: As a property manager, can you communicate in other non-English languages?

A: Yes. My team and I can communicate with people who speak Spanish and Mandarin Chinese.

Q: As an owner, what is the term of our contract?

A: The employment contract between the owner and the property manager at Preferred Property Management is month to month. If for whatever reason you need to terminate our services, we understand and offer flexibility.

Q: As an owner, how often will you contact me?

A: As often as you like, but at least once a month we will send you an accounting statement. The statement will show you the funds that came in or out of your property. If there is anything abnormal, it will also be in the monthly update email. If there is something at the property that requires your attention, whether it be a repair or some kind of dispute we will reach out regarding that too.

Q: As a potential Tenant, are pets allowed?

A: It depends. In order for us to properly discuss pets, we need you to note them on the application and once noted-we can talk about it from there. Some owners will ask for more of a deposit because of your pet and others will not.

Q: As a potential Tenant, are application fees charged upfront?

A: No. We do not charge application fees upfront, they are charged at the end of the application process and only if you are the final applicant. Application fees are subject to change without notice.

Q: As a potential Tenant, does my bad credit or income disqualify me?

A: Not necessarily. When we are considering a tenant, we look at the application as a whole and therefore encourage all who are interested to view the available rentals and apply with all necessary documentation.

Q: As a potential Tenant, how much money do I need to move in to the property?

A: Generally the move in cost would be the first months rent, the security deposit, and application fees. It is paid all at once at the end of the application process.

Q: As a potential Tenant, how much is a standard security deposit amount?

A: Usually it is a little more than one month of rent. This can vary by property or owner. For apartments, it tends to be less than one month of rent. Some owners may ask for a much larger security deposit. The maximum deposit amount is two months of rent for an unfurnished property and three months of rent for a furnished one.

Q: As a future Tenant, what form do I deliver my move in funds?

A: Move in funds always have to be in the form of either a cashier's check or money orders. No personal checks or cash.

Q: As a Tenant, in what form does my monthly rent need to be?

A: Rent is sent via mail to PO Box 10005 Brea, CA 92822 in the form of Personal Checks, Money Orders, or Cashier's Checks. If you need to drop it off, you may also drop it off at our office location at 3111 N Tustin Street #150, Orange CA 92865. We are not currently set up to do any sort of online or mobile payments.

Q: As a Tenant, when is rent due?

A: Rent is due on the 1st of every month. Generally late fees are charged if the post mark date on the envelope is past the 3rd of each month, though it may vary based on the lease.

Q: As a Tenant, how do I send a repair request in?

A: Repair requests are to be sent to 949-864-6982 via text. If it is possible to take a photo, we request you send a photo and as much information as possible. Once we receive the repair request, we will respond accordingly, often with a Work Order. Email is not an acceptable way to submit a repair request.

Q: As a Tenant, what is a Work Order?

A: Once we receive a repair request, we may send out a Work Order. It would be a text that goes out to you and the vendor with all the necessary information about who the tenant is, their contact info, the vendor, their contact info, and the scope of the repair.

Q: As a Tenant, how do I schedule with the vendor on a Work Order?

A: As a tenant you are responsible for scheduling with the vendor. You need to agree to a time that works for both of you. If a vendor does not call you, you need to call them or text them.

Q: As a Tenant, what is your emergency line?

A: There is no emergency line. Our main line is the only form of communication, so if you are having an emergency after-hours please send a text. The most typical emergency is a water leak. If that is the case turn off the water right away and we will get the proper professional to your home the next day. Other emergencies that are not water leaks should prompt you to call 911.

Q: As a Tenant, how do I give notice to vacate if I plan on moving out?

A: You would need to give a 30-day Notice. You need to write or type a signed letter to the property management company by mail with your name, address, and move-out date. If you have a forwarding address please include that as well. This letter would need to be mailed to PO Box 10005 Brea, CA 92822. This is required and cannot be a text or an email.

Q: As a Tenant, what happens at the end of my lease term?

A: Often nothing. In a standard lease, once the lease term is over, the lease becomes a month-to-month as soon as we accept a rent payment for the first month after the lease term. This is not always the case however, so it would be wise to check in when your lease is close to the end. There is also the option to sign an extension. Text 949-864-6982 and we can discuss your options.

Q: As a Tenant, is the residence going to be shown to future prospects while I am in it?

A: It's possible. If you are open to us showing the home while you reside there-we will talk about what days and times work with your schedule and be sure that your privacy is respected. We appreciate tenants that are willing to work with us in showing the home.

Q: As a Tenant, can I deduct rent to make a repair?

A: No. If you have a repair that is not an emergency you need to text our number at 949-864-6982 to request a work order. If it is an emergency, you will need to provide an invoice of the work and then we have to get the deduction approved by the owner.

Q: As a Tenant, can I use my security deposit to pay for my final month of rent when I move out?

A: No. In the standard lease, it is specifically forbidden in the section about security deposits. However if there are emergency financial circumstances, it is something that can be negotiated with the owner.

Q: As a Tenant, when will I receive my security deposit back?

A: In 21 days or less. Once possession of the unit has been delivered vacant to Preferred Property Management, your security deposit and security deposit itemization list (with a list of deductions, if there are any) will be sent to you at your forwarding address within 21 days.

Q: As a future Tenant, what are your COVID-19 procedural changes?

A: This pandemic has been tough for everyone. Any active listings have virtual tours uploaded and the application process is digital in the very beginning. Once the application is received, a phone call verification takes place and a personal showing of the home is arranged. For any in person meetings, all safety procedures are taken.

Q: As a Tenant, what are your COVID-19 procedural changes?

A: If you are a tenant of any property, you are still required to pay rent. If you cannot, please contact the company and let us know the details and prove hardship. We can come to a compromise and finalize it with a signed document. We are happy to work with you, as long as you work with us.