<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=610117693119601&amp;ev=PageView&amp;noscript=1">

AUTOMATED PASSIVE INCOME

Once you give us the keys, you will never look back! Our simple belief is that owning rental property shouldn’t be complicated, and if you hire someone to manage it for you, it should come with a GUARANTEE! We know that the goal of being a landlord is generating passive income that lasts—income that is automatic.

We are the team you need to turn that goal into reality so that you can “Live More, Manage Less!”

 

EXTRAORDINARY GUARANTEES

Most management companies provide the standard “feel-good” guarantees with very little at stake to back it up. At RentSimple, we believe that you shouldn’t leave your rental property to chance. That’s why we offer the following guarantees which are unmatched in our industry:

  • RentSimple Rent Guarantee: If the tenant doesn’t pay rent, we do!
  • RentSimple Eviction Free Guarantee: 100% attorney & court costs covered.
  • RentSimple Good Pet Promise: 100% of pet damage covered—no risk to you!
  • RentSimple Happiness Pledge: Renting should be fun—or we'll make it right.

With over a decade of experience in managing investment properties in Northern Virginia, we know what works and what doesn’t. That's why we can promise to make it right—no matter the cost. It's what our clients deserve.

 

BEST-IN-CLASS TECHNOLOGY

We have searched endlessly and have assembled the best integration partners to assure that our platform and services are seamless and that our offerings to you set the standard for modern property management.

 

ONLINE PORTALS

Access to your account 24/7—by any device, anytime, anywhere. View statements, payments, and schedule transfers; view work orders, and track their status. Receive instant notifications on updates, and so much more through our convenient online portals. Plus, you have secure access to your documents and payment history—all in one place.

 

24/7 PROFESSIONAL MAINTENANCE

Our team ensures that no maintenance issues are missed, and we filter for responsibility to ensure crucial issues are addressed immediately.

We are available via phone or text for emergencies, and residents have access to a live representative to walk them through any issues they are having with a property. Our intuitive Resident Portal also allows them to submit requests for maintenance that have not yet become urgent—complete with pictures. This is just one way RentSimple protects your investment.

 

GAAP COMPLIANT ACCOUNTING & FINANCIAL REPORTING

We implement bank-grade levels of security for all of our accounts—and ensure that they are audited each month by an Independent Certified Public Accountant. We also issue detailed monthly statements that account for every transaction that occurs on your property.

Rent is paid promptly through our portal each month, and owners receive monthly distributions via ACH bank transfer directly to their account.

Owner Portal

Check your property status, view reports, reach us any time through your Owner’s Portal.
Log In

Owner FAQ'S

Frequently asked questions for rental property owners.
VIEW FAQ'S HERE

Contact us now to find out how we can help!

OWNER FAQ’S

I agree with the RentSimple philosophy—but how do you specifically market and advertise my rental home?
  1. Take Professional Photos: This is something we include with every management package—for free! We believe this is an investment in our clients to take this step on their behalf.

    If you want to make your rental even more competitive, we can facilitate a 3D Matterport virtual rendering of the home for just $225. This gives the prospective tenant the opportunity to take a realistic virtual tour of the home remotely—and can often result in renting the property sight unseen.

  2. Zumper and Zillow Network: We are a paid syndication partner of the Zumper and Zillow Network. These two platforms account for nearly all of the good rental leads in our area—and we pass that advantage along to you.

  3. Self-Showing Technology: Tenants tour the property on their schedule, not ours. This is becoming a growing trend in the industry nationally, and we are one of the first to implement this technology locally.
Do I pick the tenant?

We select the tenant for the owner, without your involvement—but only because it's in your best interest.

There are strict Fair Housing laws in Virginia that many owners may violate without knowing it—and part of our job is to protect you from running aground of them.

For instance, we often hear, “I don’t want any tenants with kids because they can be hard on the property." This is a BIG Fair Housing violation—and carries stiff monetary penalties. All it takes is one Fair Housing complaint—and you could be spending thousands of dollars having to defend yourself in court. When it comes to the Fair Housing Act, you WILL lose.

While your intentions are good, most of our clients are not up to date on Fair Housing laws. Allowing someone without an understanding of the FHA to pick a tenant puts you and your investment at risk. The best way to reduce that risk is to have transparent, non-discriminatory rental criteria.

To help keep our owners out of trouble, we developed such rental criteria, which is written out on every application. For more information on Virginia Fair Housing laws, please visit: http://www.dpor.virginia.gov/FairHousing/

Additionally, since we guarantee that rent is paid each month by every tenant, we want to be sure we are the only ones involved in finding high-quality tenants.

What about pets?

Pets are pretty much allowed everywhere now—including some restaurants and commercial airlines. We are a pet-friendly management company, and we guarantee any damage done by a pet 100%—so allowing pets into your rental property is an easy way to increase the number of qualified tenants interested in your home!

The only exception is that we do not allow any dogs that are classified as a dangerous breed or dogs over 50 lbs. that are not in a single-family home with at least a .25 acre lot.

You also 100% guarantee rent each month—when do I receive it?

That’s right! For every tenant we place in your rental home, we guarantee the rent gets paid each month. If the tenant does not pay, we pay. Our distributions go out on the 15th of each month via ACH, directly into your bank account.

How do you pull this off?

It begins with our core philosophy, which prioritizes YOU, the owner: “Great Places + Great People = Lasting Returns.” We know that if either of these two inputs is missing, the equation is off.

We make sure our values are always aligned with our clients. For that reason, we don't form client relationships from the perspective of “It’s just a rental." We know our clients have invested a lot of financial capital into their home—and it is important to us that we preserve this from day one.

This process begins by having our trusted third-party Inspection Team conduct an initial assessment of the property. They will identify any specific updates or repairs that need to be made to the property—and help us determine how to best market your investment.

This initial step is crucial for saving you money in long-term repairs, finding the right tenant, and getting your property rented quickly. We also happen to believe it's important to do the right thing by our community and put a great "product" on the market. That's the RentSimple approach!

Same thing on evictions, legal fees, court costs, and unpaid rent?

Yep. Covered.

How do you handle repairs?

For tenant-occupied homes, tenants submit a maintenance request via their online Tenant Portal. Our portal allows tenants to submit a work order request by providing a description of the issue as well as upload photos. Tenants can also track the status of their request online and communicate directly with the selected contractor.

When a request comes in, we assess it and see if it needs immediate dispatch—or if we can possibly troubleshoot the issue with the tenant over the phone or via text chat. There are many common repair requests that our team are trained on how to troubleshoot.

If the issue needs to be fixed, we send a work order to one of our vendors. We use all licensed and insured third-party contractors and do not markup the repair cost by using in-house contractors. The cost for coordination of all routine repairs is $25/repair.

Our contractors take photos before and after any work and submit an invoice to our company for approval. The before and after photos of the repair get attached to your owner statement each month, so you can see what type of repair was made.

You also get a copy of the work order we submitted to the vendor, explaining what we want them to fix, and a copy of the vendor's invoice. We ensure the cost of the repair is fair and that the work was completed satisfactorily.

Our Management Agreement allows us to approve any repair under $350, without having to bother our clients. Larger repairs over $350 require owner approval, so we will contact you in those cases. Exceptions to the $350 approval rule include emergency maintenance and habitability issues.

Once a repair is completed and invoiced, we email the tenant a survey asking them to confirm the repair was completed satisfactorily, that the vendor was professional, and to rate their overall experience with the vendor and our team.

Can I do the repairs myself or with one of my contractors?

Prior to listing the home, owners can handle the repairs needed to make the property rent ready, if they choose. Once the property is leased, we require in our Management Agreement that we use only our preferred vendors. This ensures leasing deadlines are met, as we work with these vendors regularly and know what to expect.

About how much should I set aside for repairs?

It depends: being a landlord means having to perform repairs from time to time. However, part of the RentSimple philosophy is to catch and fix issues prior to renting out the home.

We also require that appliances (HVAC excluded) are updated every 7-10 years for this very reason. We want to be proactive—not only because it provides a better "product," but also because it reduces expenses in the long run.

Older homes should plan on having about $1,500 to spend on initial repairs and updates to the general appearance of the home. After that, it can be common not to have to perform a repair for quite some time! Newer homes will require far less repairs than older homes, and our average repair cost is typically around $200.

Owners should plan on keeping a personal savings account for replacing carpet, paint, and kitchen appliances every seven years. Larger appliances have a typical lifespan of 10-15 years, depending on the quality of the manufacturer.

RentSimple also holds $350 in escrow to be used to pay our contractors as repairs happen. This money is your money, and it remains in escrow until the end of the Management Agreement.

What happens if my tenant damages the property?

For this very reason, it is important to hire an experienced property manager to manage your rental property. For most of our properties, damage done to the home is a very rare occurrence. The most common issue we address at the end of the lease is doing a professional-level cleaning and performing touch-up cleaning.

RentSimple requires that all carpets are professionally cleaned each after each lease by one of our approved contractors. If there is any damage done to the property, we will repair and deduct from the Security Deposit held in escrow.

In rare cases, there is damage done to the home that can not be covered by the Security Deposit. The only means of collecting this is by going to court—which can be costly. To offer our clients a completely worry-free experience, we offer complete damage protection coverage for an additional $19/month.

How often do you inspect the property?

During a one-year lease, the property will be inspected three times: once during move-in, once at the six-month mark, and once at the end of the lease. If the tenant renews for a year, we will inspect the property once more annually.

It is very important to maintain a consistent inspection schedule to protect the property and catch any maintenance issues. However, inspecting the property any more than this will frustrate the tenant—and erodes the trust that is necessary for great landlord-tenant relationships.

How long are your leases?

All of our leases are for 12 months. The only exception is when the end of the lease would fall into one of the slow months (Nov, Dec, Aug), in which case we would extend the lease out to be rented into a better time of the year to protect your investment.

I want a long-term tenant and a long-term lease—why can’t you accommodate?

We get this question a lot, and we want long-term tenants too—just not long-term leases. A long-term lease is just another empty promise: essentially, what you are doing by signing a long-term lease is giving up leverage to the tenant.

In a long-term lease, you are now committed, and it is hard to evict a tenant for anything other than extended non-payment of rent. Additionally, even though a long-term lease is signed, it is only enforceable by going to court. This costs money—and in most cases, the judge will only award 60-days past rent. At this point, you still need to collect from the tenant—which is also extremely difficult and costly.

When a tenant is on a 12-month renewal, it ensures they abide by the lease, which protects your investment. Most of our tenants end up staying an average of three years—but in some cases, it is just better to walk away from a tenant after the first lease term. Ultimately, this decision protects you.

Who holds the Security Deposit?

We hold the Security Deposit in a separate escrow account. Per the Virginia Residential Landlord and Tenant Act, this money is the property of the tenant—and can only be used for past-due rent or damages to the property.

RentSimple acts as the fiduciary for this trust account and distributes the money—less repairs or missed rent.

How long is the Management Agreement for?

Due to our extremely price-conscious Tenant Placement Fee, we ask that all Management Agreements be for an initial period of one year. After one year, all Management Agreements can be canceled with 30 days’ notice.

Do you manage multi-family or commercial properties?

Our services are directly customized to meet the needs of the single-family home investor, and we do not accept multi-family or commercial clients.

I’m ready to take the next step—how do I get started?

Click “Get Started” and tell us about your rental property.  Once the form is submitted and received, we’ll provide a complimentary rental analysis and will walk you through our onboarding process.  Or click on “Contact Us” to email our Client Success Manager.  We’ll get back to you promptly to answer any questions.

Download our guide:
5 Ways Tech Is Disrupting Residential Rentals

Get My Guide

Guide-Mockup
FRA-Image

How Much will my home Rent For?

Review-Property
The RentSimple experts
will review your property.
Analyze-How-Much
Let us boost your profits
—the RentSimple way.