Owners FAQ

Services and Pricing

The following conditions apply to our guarantees:

29-Day Lease Guarantee:

  • HomeVault will certify the property as rent-ready.
  • You agree to accept pets at your rentals per HomeVault’s discretion.
  • HomeVault will set the rental rate.
  • The day counter starts when HomeVault certifies the unit as rent-ready, – that is, vacant and completely ready for a tenant to move-in immediately.
  • The day counter concludes when HomeVault receives any funds from the prospective tenant or a signed lease.
  • The guarantee is automatically offered to owners on the Gold and Platinum management plans, unless you decide to opt out by email. 
  • The guarantee is not available for owners that sign up for the Silver Plan.

Eviction Guarantee:

  • The tenant must be placed by HomeVault.
  • The following additional costs are not covered: costs of an appeal, a jury trial, when a tenant is awarded legal fees, if a tenant contests an eviction and the judge awards a hearing, or losses due to acts of God. 
  • The guarantee is exclusively available  for owners enrolled in our Platinum Plan.

Uninterrupted Rent Guarantee

  • The guarantee is available in the event in which HomeVault institutes legal proceedings for eviction against a tenant that HomeVault has placed.
  • The amount paid is up to, but not exceeding the equivalent of one month’s rent as specified in the existing tenant lease agreement, or the agreed rent price at the time of termination of tenant occupancy.
  • Physical property damage, evictions or losses due to acts of God are not covered. 
  • This guarantee is available only for owners enrolled in our Platinum Plan.

It really depends on your rental property and what you are trying to achieve. Our Silver Plan is developed for early-stage investors seeking to learn the intricacies of investment property management but with an added protection layer of professional oversight by our experienced team. This plan is perfect for DIY investment enthusiasts.

The Gold Plan is designed for investors who value their time, treating their investment property as a business. If you are looking to delegate all aspects of property management and maintenance to our experienced team, while you focus on what matters in your life, this program is for you. Our Investment property acquisition, sale, and consulting services are included in this program.

The Platinum Plan is designed for the avid investor who is actively looking to build wealth by growing their Real Estate investment portfolio. The program includes full professional management services backed by our Rental Income, Eviction, and Rent in 29 Days or Less Guarantees. Our Investment property acquisition, sale, and consulting services are included in this program.

On the other hand, our Guaranteed Income Plan is a non-property management plan designed to free up your schedule, avoid rental income fluctuations, and make your rental property a continuously profitable investment.

All our plans include the services below, and, depending on your choice, many more additional services!

  • Tenant Placement
  • Rent Collection
  • Monthly Reporting
  • Full property management
  • 24/7 access to property management data and access to our support team
  • Online Owner Portal

For additional services dependent on the Plan of your choice, please check our Pricing Page.

While there are some exceptions, we generally offer services in an area within a 30-minute drive from our offices. If your property is close to one of our service areas, but you are unsure if we service your location please write us at hello@homevault.com, or book a call with our sales team, and we’ll let you know if we serve your area.

Property Management Agreement and Termination

There is no expiration date of a property management agreement with HomeVault. The agreement is renewed every month. You may terminate the agreement with a 60-day notice via email, and we will respond to your email with the Cancellation Agreement for review and signature. Please note that HomeVault does not accept fax notifications. As of the termination date of the property management agreement, it is the owner’s responsibility to contact and inform the tenants where to make future rental payments and work requests.

Maintenance

To better enable HomeVault to pay expenditures as they become due, owner’s accounts have a required ‘minimum balance’ or maintenance reserve. Owners can replenish these funds via the HomeVault online owner portal using electronic funds or credit card.

Owners may be expected to be involved in common and routine repairs approximately exceeding $500, excluding any taxes or maintenance coordination fees, and HVAC, water heater, appliance issues or other uncommon or licensed trade repairs approximately exceeding $1500, excluding any taxes or maintenance coordination fees.

Turnovers typically take less than 7 days, but they may take longer depending on a number of factors, including the amount of work required and the availability of vendors, which can fluctuate at different times of the year.

Leasing and Renewals

HomeVault advertises vacant properties on its own website, homevault.com, and on 50+ popular rental websites, to ensure that anyone looking for a rental will see your available property. HomeVault charges internet marketing fees for the Silver and Gold Plans., but the service is included in the Platinum Plan.

We simply do not want to rent your home to tenants whom we would not put into our own homes. We take great care to find a quality tenant for you, and screen applicants using the following methods:

  • Nationwide criminal background check
  • Eviction history
  • Employment/Income verification
  • Credit bureau screening
  • Rental history verification

Yes. Security deposits are typically equal to one month’s rent. Once the resident vacates the property, we deduct from the security deposit what is beyond the normal wear and tear. We also have a Security Deposit Waiver to excellent candidates in exchange for a fee of 7% of their monthly rent. This waiver has no effect on you as the tenant is still responsible for any damages they cause. If we are unable to collect from the tenant, HomeVault will advance up to one month of rental funds to compensate for the tenant’s deficiency.

Owner Portal

The owner portal is an online repository of all your relevant documents, financial statements, and other communication.You may use it to view your reports, balance sheets, and charges due to maintenance. You may also make a contribution and update your bank information through the portal.

HomeVault sends monthly statements to owners via email, usually by the 15th of each month or the first business day thereafter. These statements (and all previous statements) are also available for you to view anytime by logging into your owner portal. If you have difficulty reading your monthly statement, please contact your management team. We are happy to assist and to answer any questions you may have.

Need more information? Contact us!

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