Owner FAQs

Our company provides three essential services:

• Leasing Services
• Monthly Management
• Home Watch

Our leasing process includes the following steps:

• Ensure your property meets our minimum standards
• Photograph for marketing purposes
• Advertise your property on various platforms
• Place a sign on your property when allowed
• Pre-screen potential tenants before arranging property showings
• Interested individuals are encouraged to apply
• Conduct the most thorough screening process you will find, including verification of social security numbers, address history, criminal background checks, credit evaluations, eviction history, criminal reports, contacting previous landlords, employers, additional references, and more where appropriate. No other companies dare to offer our tenant guarantee for a good reason; we are the best at making sure you have the best tenant possible.
• Upon approval, we facilitate the signing of the lease, ensure the first month's rent & security deposit is paid along with any other requirements legally allowed

Our management services cover the daily operations of your property:

• Provide all items listed in our Leasing process, as well as...
• Addressing maintenance requests to spare you from the hassle of tenant communications
• Emergency responses, even on holidays
• Schedule annual preventive maintenance (i.e. furnace & ducts cleaning, gutters, etc.)
• Rent collection, issuing late payment notices, and managing the demand for rent & eviction process if necessary
• Lease renewals
• Annual inspections
• Bill payments on your behalf
• Provide you with an online portal for running reports, submitting requests, and more 24/7

Home Watch services are for properties left vacant for any period of time:

• Regular property inspections
• Maintenance Coordination
• Emergency Response
• Task lists
• Safety checks
• Prepare the home for your return

Tenants have a variety of payment methods at their disposal to pay their rent. These options include:

• Paying online by using their banking details (account and routing numbers)
• Making payments online with a credit or debit card
• Mailing in a personal check
• Using their own bank to issue a BillPay check
• Direct payments in the Cardinal Point Property Management office Manager via check, cashier's check, or money order

(please note, cash payments are not accepted)

Upon confirmation from your tenants about leaving the property, we perform an inspection and compare the findings with the initial move-in inspection report. Any damages, excluding normal wear and tear, will be deducted from the tenant's security deposit. The tenant will receive a refund of any remaining deposit amount within 21-30 business days, coinciding with state laws.

Tenants should direct their maintenance requests to their assigned property manager, who may ask for further details, along with photos or videos to better understand the issue. We aim to troubleshoot problems initially to avoid the need for a vendor visit whenever possible. Should the situation necessitate professional repairs, we will engage one of our reliable vendors to carry out the work at a reasonable cost.

Upon receiving the bill, the property manager will assess whether the damage resulted from tenant negligence or misuse. In such cases, the cost will be passed on to the tenant. The property manager ensures the repair work meets our standards before finalizing payment, and to conclude the process, we seek feedback from the tenant regarding the repair's effectiveness and timeliness.

A house in excellent condition is more likely to attract high-quality tenants.

CARDINAL POINT – RENT-READY CHECKLIST for BEST RESULTS: (all may not apply)

1. Professionally cleaned
2. Carpets professionally cleaned
3. All painted surfaces to look fresh, with no mis-match touch-up; painting must be done corner to corner
4. All bedroom windows must have vertical or mini blinds
5. No personal property or items in the unit. This includes furniture, toiletries, shower curtains, tissue boxes, kitchen or bathroom items, soap dispenser, pictures, etc.
6. Garage floor swept
7. No exterior debris
8. Lawn cut and trimmed
9. Landscaping fresh and clean
10. Carbon monoxide detectors properly installed & operational on each floor
11. Smoke detector properly installed & operational on each floor
12. Smoke detector properly installed & operational in each bedroom
13. Back sliding doors must have vertical blinds
14. All light bulbs working
15. Doors open & close smoothly
16. Bathroom caulking must be free of any mildew
17. All mechanical components working as designed – Includes HVAC, plumbing and electrical systems, kitchen appliances, laundry appliances, sump pumps, water softeners, sprinkler systems, gas fireplaces, water filtration systems, etc.
18. Safety railings secure
19. Wood-burning fireplace(s), if operational, shall be clean of any debris and have a fireplace screen or heat-proof glass doors installed. If non-operational, the fireplace opening on the interior of the home shall be permanently sealed with an aesthetically pleasing material.

CARDINAL POINT – RENT-READY ADDITIONAL RECOMMENDATIONS:

1. All windows (except basement windows) should have vertical or mini blinds.
2. No draperies on windows
3. All windows should have screens

To initiate the management of your property, we require the following:

• Management Contract & Listing Agreement
• Completed Lead Paint Disclosure Form
• W-9
• Keys & Garage Door Openers
• Contribution for new Operating Account Setup
• Tenant Rent Roll & Copy of Current Leases
• Certificate of Insurance, with Cardinal Point Property Management listed as additional interest

The leasing price for your property will be influenced by a variety of factors, including:

• condition
• location
• size
• rental prices for similar properties in the vicinity
• included utilities & amenities
• time of year
• other local external influences, etc.

It's important to note that the market dynamics affecting leasing rates can differ significantly from those affecting property values. We encourage you to reach out to our office so we can discuss the specifics of your property with you.

Absolutely, our accounting system enables us to efficiently manage and pay any of your expenses related to the property.

Generally, property owners are paying homeowners association (HOA) dues, property taxes, and mortgage payments, however we can help you with that as well if desired. Anything to do with the managed property, we can handle it!

Per our in-house default lease agreement, tenants must provide at least a 45-day written notice of their intention to terminate the lease at the end thereof. Some landlords prefer another amount of notice, and that is something we can edit for you prior to lease-signing with a new tenant if desired. Minimum state requirements always apply.

Our inspection services include conducting inspections when tenants move in and move out. Additionally, we perform yearly preventive maintenance checks to provide well-informed lease renewal advice.

While you have the option to request extra inspections for a fee, we advise caution with this approach as it may encroach on tenant privacy and could lead to a decrease in lease renewal rates.

We utilize Buildium's comprehensive online management software, which integrates credit evaluations from Equifax and more!

These reports supply the following information if applicable:

• credit information, including the status of open, closed, and collection accounts
• proof of identity & restricted person search
• employment verification
• eviction court filings & records for landlord-tenant disputes
• criminal records
• sex offender registry
• terrorist watchlists
• risk model analysis

Our team takes this part extremely serious, as being more careful up front will always save you trouble down the road. That's what makes us the Best choice in property management for Portsmouth, NH & surrounding seacoast areas for many miles around!

All owner statements are available to you via your online portal. Just log in & select the report you wish to review!

Most commonly used reports include:

• Balance Sheet
• Cash Flow Statement
• General Ledger
• Income Statement
• Current Tenants
• Delinquent Tenants
• Leases Ending
• Rent Roll
• Completed Tasks
• Open Tasks
• and Many More!

This feature is particularly valued by our institutional investors for monitoring occupancy rates, financial performance, and payment delinquencies, among other metrics.

Typically, it takes between two to four weeks to lease a property; sometimes longer, influenced by factors such as the season, pricing, location, furnishings, and the property's overall condition. For example, during winter, the process may extend beyond the usual timeframe. Once we're notified by the current tenant (~45 days before the unit is estimated to be move-in ready), your property is added to our list of available rentals.

Cardinal Point Property Management offers a tenant guarantee, and that is because we know the approval process is not something to be cutting corners on...nothing is here. This may mean not approving the first tenant like many other property management companies & Realtors will do blindly. We know having the best tenant possible will return you higher profits for the long-term, and that is why you hire us.

There are numerous benefits to enlisting a property manager for your rental properties. Here are some key reasons:

• Property owners often have other full-time commitments and greatly value their time. As experts in property management, handling rentals is our daily business, and we excel at it!
• Many new landlords lack the comprehensive understanding of the various local and federal regulations, which could lead to costly errors. Our team stays continually updated on relevant issues, ensuring compliance with all laws to protect you and your investment.
• We're well-versed in the local market, possess a wide network of contacts, and have access to advertising & vetting resources at reduced rates, allowing us to efficiently market your vacant property to potential tenants.
• Our experience & first-hand knowledge of uncommon red flags give you the best chance of vetting out the unwanted tenants you read landlord horror stories about.
• In today's investment property world, one needs to be adept in numerous areas including Advertising, Photography, Marketing, Sales, Repairs, Project Management, Customer Service, Conflict Resolution, and Legal Matters.

Cardinal Point Property Management encompasses all these skills and more, making us the ideal choice for managing your property.

Prior to having your management contract in place, we will have already done a drive-by at the property.

Within the initial two working days after we have your management agreement in place, our team will conduct an on-site visit to your property for a thorough inspection.

We'll then outline the necessary work, seek quotes from our reliable contractors if anything is needed, and run an in-house rental price analysis compared to the market if any units are currently vacant or coming available within 60 days.

Should your property meet our readiness criteria during the first inspection, we will instantly capture marketing images for future use, and start the advertisement process where applicable.

Should a tenant not meet their rent payment deadline, our initial step involves sending a courteous email reminder. If necessary, this is followed by a phone call. We persist in reminding the tenant through emails, phone calls, and texts until the due amount is settled in full or the property is vacated.

Should the tenant still be in arrears by the 8th of the month, we move forward with the appropriate steps to initiate the eviction proceedings based on state landlord/tenant laws.

It's advisable to speak with your insurance representative to confirm that your policy is adequately structured for a landlord, including ample liability protection for housing tenants.

Additionally, verify if there are any restrictions regarding pet breeds and share that list with us in advance, even if you do not intend to allow pets at the property. Cardinal Point Property Management collaborates with insurance companies and can offer a recommendation for suitable coverage if needed.

The duration required to prepare a unit or house for new tenants varies significantly based on its initial condition upon handover from the previous tenant or owner. Drawing from our extensive experience managing many properties since 2012, we've observed the following timelines to be accurate:

• A minor preparation process typically ranges from 2 to 4 days.
• A moderate preparation process usually takes between 5 to 10 days.
• Extensive preparation work can extend from 11 to over 18 days.

For properties needing significant renovations involving multiple contractors, the timeline can vary based on their availability, the sequential nature of the work, and the speed at which owners approve the necessary tasks.

Engaging a property manager provides you with additional leisure time and tranquility. We take care of everything for you, so you can rest easy and enjoy peace of mind.

Given that over 70% of tenants own pets, we typically recommend accepting them to some degree in most cases. Our detailed vetting procedure and collection of a Pet Deposit (where allowed) minimize the potential risks involved.

Additionally, we enforce a strict no-smoking rule at all properties.