What in today's market can this property receive in gross monthly rent? Are you presently seeing much demand for rental property like this in Cape Coral?

In this market we are seeing a demand for property that is in a great location, good condition, and is not in danger of foreclosure.

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For any new tenant, what advance payments are required. First and last month rent, damage deposit, cost of keys, etc?

Tenants as a “norm” are required to pay a $50 application fee per person over the age of 18, security deposit equal to one month’s rent, 1st month’s rent, and last month’s rent. However, in this market many tenants as a majority can’t pay the rent times 3 to move into a home, so they pay a security deposit and first month’s rent. However, there are workout agreements that allow a tenant to pay their last month’s rent over a period of allotted time.

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Can I have/review tenant questionnaire and background check you do before accepting tenant?

Any applications that are run by RE/MAX Downtown must be kept on file. I can discuss their details over the phone with you, but I cannot give you copies of their personal information as that is not possible. We look to find you a tenant that meets our criteria as recommended by Attorney Heist’s office, but if there is an interested party in your rental and they do not fit the criteria we call you directly for approval, or if their application is absolutely unsatisfactory we deny the application out-right.
 

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Can we limit the tenants, to things like no smoking only, no pets or type of pets, maximum number of people that can live there?

RE/MAX Downtown follows the HUD regulations for the number of people allowed per unit: 2 people per room which determines the maximum number of occupants a unit can have depending on how many rooms there are, and by rooms I mean bedrooms. Example, 3 bedroom home means the maximum number of occupants is 6 no more is permissible.

No pets is fine, but I would advise caution because houses with fenced in yards attract people with pets.
RE/MAX Downtown always puts the following special clauses in the lease as of January 2009:
1) Tenant will be responsible for all repairs under $100.00 unless due to Tenant's negligence, in which case Tenant will be responsible for 100% of repair cost.
(2) Tenant is responsible to keep the appliances and home in good and functional condition.
(3) Tenant, at Tenant's expense, is responsible for any trash removal that requires extra charges beyond Landlord's levied taxes or HOA Fees.
(4) Tenant agrees that smoking is NOT permitted on the premises by Tenant and/or Tenant's guests. In the event the premises are damaged in any way due to smoke, Tenant agrees they will be fully responsible for eradication of smoke-related odors and/or repair of damage due to smoke. Tenant agrees that smoke related damages will in no way be considered ordinary wear and tear.
(5) If the unit is equipped with a washer and dryer the owner will not repair or replace the unit should the washer and dryer stop working.
(6) Tenants are responsible for any and all repairs to the garbage disposal.

*Optional* (7) Even though the last month's rent is not being collected it is not waved and is due at the normal time rent is to be turned in.

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When can I as owner be able to inspect the inside of the house to see how it is being treated?

According to landlord tenant law a landlord or their property manager has the right of entry with reasonable notice. Because of the “Gray Area” that creates our Attorney, Harry Heist (www.evict.com), recommends at least 24 hours notice; however, in the case of emergencies that is considered extenuating circumstances and you can enter the premises sooner. You just have to give some kind of notice within reason of the situation.

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How can we rent property and continue trying to sell it. If tenent has a one year lease for example and a new owner wants to move in, how would you build this in the rental agreement?

In our leases we can put a clause that in the event that the house sells the owner has the right to cancel the contract with 60 days notice, in which case RE/MAX Downtown could find the tenant another residence or they can move-out without prejudice.

1. Page 1 d Advertising. What is an estimated cost for this expense?

That depends on how much you are willing to allot to us to pay for advertising to get it rented, and then take it out of the rent when it is rented.

2. Page 2 k Maintenance of Property. What are services you would anticipate?

There are too many to go into them all, but primarily: A/C, plumbing, handyman work, pest control, lawn care, etc.

3. Page 3 Collection Fees. Please explain. You as broker get one half of any of my money recovered? plus what type of out of pocket expenses for what rent and damages?

RE/MAX Downtown is paid as such: 50% of the first month’s rent, and we take 10% of the rent from the second month till the renewal. For renewals we charge a $200 renewal fee.

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