Owner FAQs

Answers to Your Common Questions

What should I consider when choosing a property manager?
Interviewing your management team and feeling comfortable with your point of contact is one of the most important factors. Property management requires trust to make a good relationship. MRE will be happy to make a free assessment appointment so that you can meet our Property Manager and decide for yourself.

Why should I hire MRE as a property manager?
We have made significant growth each year working only from client and agent referrals. The entire team at MRE takes pride in what we do and treats your property as though it were our own.

What areas do you handle?
We specialize in single family homes in Oakland County, Wayne County, Macomb County, Lapeer and parts of Wayne counties.

Do you use a standard lease agreement?
No, our lease is a constantly evolving document that is changed with every lesson we learn. Many lessons in court and those from other investors over the last 15 years has been reflected in our lease to protect our owners.

Will I receive a statement each month?
Owners statements are emailed or mailed on the 15th of each month or the next business day should the 15th fall on a weekend. Each statement will have detailed line items showing rent income and charges.

Do you hold back my funds for potential costs?
No. We ask that a check be sent within 10 days after statements are issued for any balance due.

What specifically do you do to qualify a tenant once they have applied to rent my house?
This is one of the most important aspects of a successful management company. The application process is thorough and several steps are taken to verify tenant worthiness. An applicant must demonstrate a history of being a reliable and responsible tenant as well as meeting credit standards. We personally talk to past landlords and asked detailed questions regarding their rental history. We take an extra step and obtain civil court data, which checks for prior landlord/tenant court cases. We obtain a credit report, criminal background check and consult the terrorist watch list on each applicant. We also require a copy of their driver’s license to verify renewal or change of address information and social security card for SSN verification.

Do you charge the tenant a security deposit? What about a pet fee?
Yes. Our policy is that the security deposit is typically equal to the first month's rent. Pets are not allowed without your permission. When pets are allowed, an additional pet fee of $25.00/month, per pet is charged. Any damage above and beyond the pet deposit remains the tenant’s responsibility.

How long can a tenant stay without paying rent?
MRE issues the first required notice on the 7th of each month. This notice gives a tenant 7 days to pay the amount due. If the amount due is not paid by the 15th of the month, the case is then sent to court. Once we attend our court date, the judge will give 10 additional days to pay or eviction can be ordered. Once we have the court order it is good for 56 days, during which time an arrangement agreeable to the owner and the tenant can be reached to avoid eviction.

Will I be notified if a repair is needed?
We email each owner with any repair order that is reported. Most repairs and maintenance issues are standard and completed for a nominal charge. If the repair turns into something more serious, we will then email with the contractors findings, quotes and recommendations for approval.

Can I use my own maintenance person?
As long as they respond and complete the work in a timely manner, the choice is yours.

Millennium Real Estate

3676 Clarkston Rd. Suite A
Clarkston, MI 48348

Phone: (248) 394-0464
Fax: (248) 394-1100

LOCATION

Millennium Real Estate
3676 Clarkston Rd. Suite A
Clarkston, MI 48348
Millennium Real Estate BBB Business Review

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