IMPORTANT INFORMATION
Are you in the stages of submitting your online application, or just have questions about our process? The library below with our disclosures and other documents can help you get answers as well as understand who we are.
DISCLOSURES
FAIR HOUSING DISCLOSURE (pdf)↓ Download
NICKEL CITY PM HOUSE RULES (pdf)↓ Download
NICKEL CITY PM PET FEE CHART (pdf)↓ Download
INSURANCE POLICY (pdf)↓ Download
NC PM PEST ASSURANCE (pdf)↓ Download
NICKEL CITY PM PESTS OWNERS FAQ (pdf)↓ Download
FREQUENTLY ASKED QUESTIONS
Please contact us if you cannot find an answer to your question.
Will you find tenants for my property?
Yes, we will handle it all from taking photos of your property, background checks, and credit reports.
How are rents determined and how often are they increased?
Rent is determined based on the rental market at the time of leasing. Rent increases are reviewed at lease renewal, considering current market conditions, unit condition, and tenant tenure and performance.
How much of the rent gooes to the management company?
We charge 10% of the rent.
What is the estimate of maintenance costs annually?
For our models, we assume 10% of rent, excluding renovations, large expenditures, roofs, furnaces, etc.
Do owners have a say in what gets repaired when the management company is managing it?
With basic maintenance, not really. For any jobs over $500, owners will be consulted and have approval if not in an emergency situation.
Are there any situations in which the owner can bring in their own contractor or do the work themselves if the management company is managing the property?
Yes, as long as they have the proper insurance documentation. We do not mark up contractor work, so the provider does not matter to us.
Does the management make recommendations to the owner as to what should be fixed and what can wait?
We are in relatively constant communication with our tenants, so we would review any plans for their unit with them.
What is the screening process for the tenants? Do you have a background check?
Yes, we have a detailed screening process involving income, credit, and background checks.
Is the lease signed with Nickel City Property Management? Can I get a copy of one of your general leases to look at the terms and language?
If you enter under a purchase agreement for the house or with our company, we would be able to share the leases for the property with you.
Do you have an 800 number for maintenance issues? Is it a 24/7 response line?
We have an after-hours call center that picks up when the office is closed. We also have procedures for after-hours and emergency issues.
What if the owner knows someone they would like to rent to. What is the procedure?
We welcome any and all sources of prospects. Owners can inform us of prospects, but we have to screen all prospects consistently and make decisions based on Fair Housing guidelines and consistency.
How quickly does Management respond to tenant maintenance calls?
Normally within 1-2 hours. We have a separate system focused on maintenance to bring a high level of focus to this area.
Are there any scenarios where the tenant is charged for the repair or maintenance
Yes, there are scenarios where a tenant is charged for repairs.
In the event that a tenant moves out, on average, how long does the apartment sit empty before the unit is filled with a new tenant?
This timing depends on the level of renovation needed and the time of the year the unit is to be marketed.
Who determines the pet policy? Owner or property mangagement?
We have a consistent pet policy for our units, or the owner can decide to have a pet-free property.
Who is responsible for pet damage?
With our procedure, the management company is responsible for pet damage up to 1x rent.
Who maintains the lawn and snow?
Depends on the property and the owner. In multifamily, we typically hire a contractor for landscaping as an additional maintenance charge. Snow removal is typically the tenant’s responsibility.
Is it written into the lease that the tenants are responsible for sidewalks?
It depends on the property and the owner, but where tenants are responsible for snow removal, it is written in the lease.
How often does property management inspect the property, check smoke and carbon detectors, and furnaces?
We plan to be inside of all the units we manage 2x per year.
How often is property management in contact with owners?
We communicate results to the owners on a monthly basis and arrange additional calls as needed.
How does the owner receive monthly rent from property management?
Net proceeds are transferred via ACH to the Owner on a monthly basis.
What happens if a tenant does not pay ontime or at all?
We have a delinquency process to work to get the tenant paying and avoid eviction. If that is not successful, we proceed to eviction.
Are there late fees built into the lease? Who collects and/or retains these?
Yes, we manage and collect them.
Does the property management regularly stay on top of current New York State tenants and homeowners laws?
Yes.
How does it work if a tenant chooses to sue about something?
We retain a lawyer who is an expert in eviction proceedings and she represents us throughout the process.