Frequently Asked Questions
FAQs from Property Owners
We’re glad to answer any questions you might have. Here are some of the most frequently asked questions.
What types of properties does Rock Point manage, and in what areas?
We manage any type of residential property — from single family and duplex homes to apartment complexes under 50 units. We also manage smaller commercial office and retail properties. Our field of service includes the greater Chattanooga, Tennessee area and nearby north Georgia.
Can I switch from my current property management company?
You should always honor any brokerage agreement you’ve made. That said, many companies will let you cancel a property management agreement at any time without penalty, so go ahead and discuss it with them.
How much money do I have to pay up front when I hire Rock Point?
Zero. You do not have to pay us a dime until your property is leased to a qualified tenant and the first rent payment is in our hands. At that point we collect the tenant placement fee (leasing commission) and begin to collect the monthly management fee. However, if your property requires work to get ready to rent you will need to fund your account with us to accomplish that work.
Do you screen applicants before renting to them?
Absolutely! We use highly-rated national screening services to check out a rental prospect’s credit history, criminal background, and eviction record. We also check references from former landlords and verify current employment as well as job history.
Do you keep an eye on my property during the lease term?
Yes we do. We conduct “eyes on” semiannual inspections, inside and outside, of every property we manage . This allows us to assure that there are no developing physical issues with the building and that the tenant is keeping it clean and has no unauthorized occupants or pets.
What if a tenant doesn’t pay rent?
If a tenant is late we pursue them relentlessly until they pay. If all else fails, we proceed with swift eviction and collection efforts. However, we don’t need to do this very often since we are careful to select only tenants who meet our high standards.
How much does Rock Point charge as a monthly management fee?
Our standard management fee is 10% of rent collected. The fee is reduced to 8% if the owner has a portfolio of five or more rental units.
How much do you charge for maintenance services?
Most maintenance issues are handled by our own professional technicians at a rate of $68 per hour. This includes wages, insurance, tools, vehicle and gas… everything! The charges may be higher for after-hours emergencies, but we only respond to genuine emergencies that threaten persons or property.
Still have questions? Ask us here.
“They’ve been managing my duplex for almost a year and I’ve been happy with their service. They’ve taken care of absolutely everything which is great because I travel a lot for work and don’t have time to do it myself.”