Richmond Property Management

for Single Family Residential Homeowners

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Property Owner
Frequently Asked Questions

Get answers to your questions.

How and when do I receive the funds from my rental property?

The most efficient way to receive your owner distribution is through our direct deposit process by providing us with a voided check or your bank account information for the account you would like the funds to be disbursed into. If you haven’t done this already, please provide the account and routing numbers to your property manager. If you would like, we can send your proceeds in check form to the mailing address you provide us, though direct deposit is preferred.

Your Property Management Agreement states that we will forward any funds in your Dodson Property Management rental account by the 15th of each month. In an effort to exceed this expectation, our first distribution is on the 7th of every month (unless the 7th is a weekend or bank holiday). If we receive rental proceeds from your tenant between the 7th and 13th of the month, we will forward these to you on the 14th. Similarly, we distribute on the 21st and 28th as needed.

What happens if my tenant pays late?

The standard lease that we use at Dodson Property Management requires that rent be paid on the 1st of every month, and is considered late if received after the close of business on the 5th, unless the 5th of the month is a Sunday or bank holiday. Tenants are then charged a late fee which is typically 10% of one month’s rent unless stated otherwise in the lease agreement. If your tenant has not paid by the time of your first distribution on the 7th of the month, your owner statement will show no income for the month. Please note that by the time we send out all owner packets on the 7th, we have accounted for all rent checks received by tenants.

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The tenant at my property still has not paid rent and it’s getting later in the month. How does the eviction process work?

The eviction process can be lengthy and arduous. Please see the timeline below of how the eviction process generally works:

When is my property inspected?

As is our policy at DPM, all residential properties are inspected at least twice annually when tenants are in place. The first inspection will occur approximately three months after the move-in date for the tenant. At this inspection, your Property Manager will check for visible plumbing leaks, test smoke detectors, ensure air filters are being changed regularly, and the overall condition of the property. You should receive an update from your Property Manager shortly after this inspection concerning any issues which must be addressed immediately, could be addressed if you have the resources available to you at the time, or may need to be addressed in the future.

How are maintenance issues handled?

When a Property Manager receives a maintenance request from a tenant, their first step is to trouble shoot the problem to see if it is something that can be solved easily and avoid a service call to a technician. They will diagnose the problem the best they can, and if the issue cannot be solved, a work request will be sent to a professional in order to further evaluate the situation. Please keep in mind that our Property Managers are not professional maintenance technicians, therefore we use trusted vendors who give us fair pricing and are honest and ethical in evaluating and addressing maintenance concerns. Many of the Military Plus contracts differ from our regular Dodson Property Management contracts in that Military Plus contracts allow for up to $500 worth of repairs to be made by the property manager without approval of the owner and Dodson Property Management sets that threshold at $250.

Since we use vendors whom we know and trust, from time to time they will call us from a job site with notification that a repair may cost slightly more than the $250 threshold. In these rare instances, our Property Managers will evaluate the situation and cost, and make a determination that it may be in your best interest and actually save you money in the long term to authorize the repair rather than incur an extra service charge. In these cases, your Property Manager will try to contact you while the vendor is on site, but if they are unable to get in touch with you, they may need to make the determination to complete the task in order to save you money in the long run.

Should you have any specific maintenance instructions or requests, please address these with your Property Manager when we begin management of the property so we can fully meet your expectations.

There was a major maintenance issue at my property and the cost exceeds one month’s rent. How can I pay this bill?

As you have been notified previously, Dodson Property Management is not holding a reserve for paying maintenance costs as we believe your money will be better served in your pocket as opposed to our account. However, that means that you will be experiencing deductions in monthly rent for your maintenance costs, which will be a little different, but will be communicated to you in advance when possible.

In the instance that a maintenance repair bill exceeds one month’s rent, we ask that payment arrangements be made prior to the repair work being completed. You may send a check for the full amount of the repair bill or make a payment through your owner portal and we will in turn disburse to the vendor, or you may pay the vendor directly. Please keep in mind that if you pay the vendor directly, this will be reflected neither on your owner statement nor on your end of year statement from an accounting standpoint. By paying Dodson Property Management directly for such repairs, this will ensure proper and much simpler accounting for tax purposes.

If you find yourself having unanswered questions as to our current policies and procedures, please reach out to Senior Property Manager, Shelly Gale at (540) 273-0981.