Question 1

What does Turtle Top Properties do for the owner?

Accepted Answer

Being a landlord is a full-time job.  Turtle Top Properties will handle day-to-day items involving your property.  Turtle Top is able to handle rent collection, tenant services, property inspections, maintenance and leasing.    We also provide monthly financial statements, along with on-demand reports.

Question 2

What is a Property Management Agreement?

Accepted Answer

This agreement is between Turtle Top Properties and the owner of their property.  The agreement outlines what Turtle Top does and what the owners responsibilities are.  Each property managed by Turtle Top requires its own agreement.

Question 3

What is Turtle Top's commission charge?

Accepted Answer

We charge 8% or $75 on each unit, whichever is greater of the total monthly gross on residential leases (rentals).

Question 4

What other fees does the owner pay besides the commission charge?

Accepted Answer

Turtle Top charges fees on initial property set-up , new tenant placement, yearly administration and evictions.  Owners are also responsible for paying for maintenance, repairs, cleaning and other services as needed. In addition, there is a security deposit per unit which is refundable. For a detailed breakdown of fees and services please refer to your Property Management Agreement.

Question 5

Do owners pay deposits?

Accepted Answer

Yes, owners are expected to deposit at least $500 per property. The money is held in a trust account, and is to be used only for emergency purposes related to your property. If the deposit is not used, it will be refunded.

Question 6

How much does maintenance and cleaning cost when needed?

Accepted Answer

Repairs, cleaning, yard care, and other services will be billed to the owner at affordable rates. The exact fees for each service can be found in your Property Management Agreement.

Question 7

How will you market my property?

Accepted Answer

Turtle Top will list your property on top rental listing services like Apartments.com,(Apartments.com,) Rent.com, (Rent.com,) Apartmentlist.com (Apartmentlist.com)and Realtor.com.(Realtor.com) In addition, we may utilize Facebook, Craigslist and YouTube.

Question 8

What rental software do you use?

Accepted Answer

Turtle Top uses Buildium Property Management software.

Question 9

What kind of financial reports will I receive?

Accepted Answer

Turtle Top will send you a monthly property statement. In addition, through your Owner's Portal you have the ability to generate on-demand reports on income statements, balance sheets, general ledgers, property statements and more.(https://static.wixstatic.com/media/fd028b_6d71a446b48c4879874cedaa4a51c48d~mv2.jpg)

Question 10

What kind of rental reports are available to me?

Accepted Answer

In your Owner's Portal you will find robust options to create on-demand reports on such things as leases, security deposits and liabilities, tenant statements, work orders, and more.

Question 11

Does Turtle Top Properties pay bills for my property?

Accepted Answer

Yes, we can handle and set up paying your property bills each month or quarterly, depending on the business requirement for the bill.

Question 12

With whom do you bank?

Accepted Answer

Enterprise Bank & Trust is our preferred financial institution.

Question 13

When do you inspect my property?

Accepted Answer

We'll inspect your property prior to resident move-in and after residents vacate. We'll also perform a regular inspection at lease renewal.  We use Inspections by HappyCo as our inspection software. We're happy to share inspection reports with you on request.

Question 14

How are my owner disbursements handled?

Accepted Answer

All collected rent is held in a trust account. After expenses are paid, your owner disbursement is sent via electronic payment to an account specified in your Property Management Agreement. If you'd prefer to have a regular check mailed to you, please specify in the Property Management Agreement. Owners usually receive their disbursements near the end of the month.

Question 15

Will you winterize my property?

Accepted Answer

Turtle Top is happy to perform property winterization when necessary. Most  winterization services will be billed at our regular maintenance rate (e.g. sprinkler blow-outs, AC removal, external water shut-down).

Question 16

Do I pay Turtle Top when a unit is vacant?

Accepted Answer

No, the owner does not pay a management fee if a unit is vacant. Turtle Top will continue to pay regular expenses on behalf of the owner.

Question 17

How does Turtle Top hire contractors?

Accepted Answer

Our dedicated maintenance provider is MtM Maintenance LLC (Marc the Mule). Marc the Mule is licensed and insured to handle various tasks, from minor repairs to full home renovations. For specialized services, Turtle Top prefers to work only with reputable, licensed and insured individuals. please refer to your Property Management Agreement for more details.

Question 18

Do I need to have insurance ?

Accepted Answer

The owner agrees to maintain adequate property insurance on the premises, including liability coverage, fire, and extended coverage, naming the property manager as an additional insured.

Question 19

What services/utilities do owners usually pay for the tenant?

Accepted Answer

Owners will often pay for water, sewer, and garbage.    Other owners will include internet services,  electric and gas bills.    It really is a preference for the owner and is to be specified in the Property Management Agreement at the time of sign-up.

Question 20

Are smoke detectors, carbon monoxide detectors and fire extinguishers required on the property?

Accepted Answer

Both smoke and carbon monoxide detectors are required by law.  In addition, Turtle Top highly recommends fire extinguishers.    The maintenance crew can install any of these at the owner's expense.

Question 21

How do you screen residents for my property?

Accepted Answer

Turtle Top Properties prioritizes responsible tenancy and conducts a rigorous screening process involving a full credit report (including credit score), identity verification, a complete background check, and an eviction history report. TransUnion is our preferred credit reporting agency.

Question 22

How do you collect rent?

Accepted Answer

We provide flexible payment options for tenants, including: pay online through the Resident Center using EFT or a credit card, pay by mail using a cashier's check/MO or  pay at local retailers like WalMart using PayNearMe.

Question 23

Can owners set their own rental price?

Accepted Answer

Yes, as owner you can set your own rental price. We can discuss fair market value and comparable properties to help you make an informed decision.

Question 24

How soon do you start marketing a unit for rent? Can potential tenants view units that are still occupied?

Accepted Answer

We typically advertise units before the current lease expires. Whenever possible, we arrange viewings for units that are still occupied, helping to minimize vacancy time.

Question 25

How long does it take to Turtle Top to start managing my property?

Accepted Answer

In most cases, we can start managing your property the next business day after signing the Property Management Agreement.

Turtle Top FAQ