A: Owner disbursements are processed monthly after rent has been collected and all property-related expenses have been paid. Net proceeds are electronically deposited into the owner’s designated bank account on the last business day of each month.

Owners will also receive a monthly financial packet on the last business day of the month, which includes detailed income and expense reporting for their property.

Betts Real Estate does not issue Form 1099s to property owners. Instead, your December financial packet will include year-end financial reports and documentation that can be provided to your tax professional for tax preparation purposes.

A: Tenants submit maintenance requests directly to management through our online system. Betts Real Estate coordinates repairs with qualified, approved vendors and keeps property owners informed of significant maintenance issues and repairs as needed.

Owners may also choose to use their own preferred contractors. However, before any work can be scheduled, the contractor must provide Betts Real Estate with a completed W-9 and a current Certificate of Insurance demonstrating appropriate coverage. Once the required documentation has been received and approved, we will be happy to coordinate the work with the owner’s selected vendor.

A: Yes. For non-emergency repairs, Betts Real Estate follows the repair authorization limits established in your Property Management Agreement. If the estimated cost of a repair exceeds your authorized spending limit, we will contact you for approval before proceeding with the work.

In the event of an emergency that could result in injury, property damage, or further deterioration of the property, we may authorize repairs immediately to protect the property and its occupants, in accordance with the terms of the management agreement.

A: All applicants undergo a comprehensive screening process before approval. Our screening includes credit history, criminal background, income verification, employment verification, and rental history. Each application is reviewed using our established rental criteria to ensure a consistent and thorough evaluation of all prospective tenants.

A: If a tenant fails to pay rent, Betts Real Estate follows the terms of the lease agreement and all applicable state laws. We promptly assess any applicable late fees, communicate with the tenant regarding the delinquency, and issue the required legal notices when necessary.

If the balance remains unpaid, we will take the appropriate steps to protect the owner’s interests, which may include collections efforts and eviction proceedings. Throughout the process, we keep the property owner informed of significant developments and available options.