Owner FAQ

This is the most commonly asked question we receives from owners. Unfortunately, there is no way to predict how long a property will remain on the market, even in the best market conditions. However, we work diligently to rent the property as quickly as possible. What is important to remember is that the most important objective is to have "a quality tenant."

We, or any other property management company, can rent properties "quickly" if they do not have standards for obtaining good tenancy. However, bad tenants will only create more expense and another unwanted vacancy; therefore, waiting for the “right tenant” is worth the additional time it can take to rent the property.

We collect rent 1st -6th of the month. We attempt to collect any late rent on the 7th.
We then disburse funds to vendors, and owners on the 15th day of each month.
If any of these falls on a holiday or weekend, we issue funds on the next business day.
We do not disburse funds on weekends and holidays. We do NOT issue owner payments unless there are sufficient funds in the owner’s account. It is vital to accurately post rents, pay vendors, and disburse funds for your account. Therefore, it is vital that we adhere to this schedule to ensure servicing every owner’s account correctly.

We distribute owner funds via ACH direct deposit into an owner’s bank account; We sends monthly statements after disbursement. The processing period is REQUIRED for the checks to clear. We cannot send any payments out unless funds are available. The longest part of any check processing service is waiting for confirmation that the funds are indeed available and that they have transferred to your account. This can take anywhere from 2-5 business days, with the actual transfer and confirmation coming on the final day. In rare cases, the transfer of funds could take a little longer than five days. This happens if there is a holiday involving one of those days, particularly if it is around Christmas, which is one of the busiest times of year for any type of transaction. Our policy is we deposit all payments the day received so the checks have ample time to clear. As long as your tenant pays on time you receive your owner payment between the 15th and 18th of the month.

Priority of Funds: Rents and charges collected from tenants shall be disbursed in the following order of priority:

a. Broker fees
b. Reimbursement of Broker for out-of-pocket expenses.
c. Payment to vendors or affiliates
d. Reserve account replenish
e. Balance to Owner

We have found that the Internet and our website, www.trustartrealty.com, receive tremendous exposure, as well as using nearly 70 other websites to market your home. We take full advantage of this medium to reduce advertising costs and gain more exposure for your property.

Absolutely!

Absolutely. At Trustart Realty we specialized in investment properties in Philadelphia and will be happy to assist you with finding a new investment that would match your investment profile.

No. We will fully take over the management of your property. You won’t have to take calls in the middle of the night anymore. We have a dedicated afterhours phone line for tenant’s emergencies. And during the day tenants can contact us by phone, email and text messages.

When prospective tenants view your vacancy, we want the property to look its best and compete with area rentals. A property maintenance report and rental market survey is completed. Our management team will contact you to discuss the details of your vacant property and any necessary maintenance.