(716) 880-0780 Buffalo, NY 14217

FAQS

Q: What property management services do you offer?

A: Rent collection, record keeping, leasing, emergency maintenance/repairs, and scheduled maintenance/repairs.


Q: What are the fees for your services?

A: Our management fee is for basic supervision of your property. We collect rent. We interface with the City at your direction, we meet with inspectors, and we interact with tenants and handle their service requests and maintenance needs. We interact with rent-paying agencies such as the Department of Social Services (welfare) and the local Section 8 offices. The management fee is 10% of the rent collected. It is important to note that we charge only on the rent collected during the month and not on the rent due. In other words, we get paid based on our performance for you.

We do charge a fee to place new tenants at your rental properties. The tenant placement fee varies according to the monthly rental price of the unit. If rent is $500 per month, the tenant placement fee is equal to $500; if rent is $900, the tenant placement fee is $900. We guarantee our placements too: If your tenant should move out in 6 months or less (for an apartment) or 1 year or less (for a single-family home), we will locate another tenant for you at no charge.

To locate a tenant, we begin by saturating the market with advertising both online and with attractive branded signs on the property. We administer a thorough application process including a criminal/civil background check. We verify employment and income, check landlord references, and contact any rent-paying agencies involved. On move-in day, we execute our standard lease agreement and other documents necessary for move-in. We make sure units get inspected if required and coordinate repairs needed for compliance (DSS and Section 8 both require inspections prior to paying rent directly to the landlord).

We work closely with a maintenance company, LMP Maintenance Inc. to perform repairs on your property as necessary. Repairs are subject to local state and county sales taxes, and LMP Maintenance is authorized by the New York State Department of Taxation and Finance to charge and collect Sales and Use taxes where applicable.


Q: When will I receive my net rent payment?

A: During the first week of the month following the rent collection, we "close" our books and reconcile and balance our accounts and produce a monthly statement for you. After we've produced your statement and sent it to you, we will process your rent payment. Please note, other managers require a large deposit so they may draw expenses off monthly. We, however, do not, so long as the property has tenants, and the expenses do not exceed your monthly rent collected. In some instances, when we send your statement and there is a balance due and owing from you to Lighthouse, we extend payment terms of net10.


Q: Will I receive a year-end statement?

A: We send a 1099 detailing your rental income for the tax year. You should save and forward your monthly statements to your tax professional along with the 1099 so they can prepare your return accurately.


Q: How often will the lawn have to be cut at my property?

A: Your lawn will be cut 2–3 times per month from May to October each year.


Q: Evictions – what if a tenant doesn’t pay rent?

A: A tenant who falls behind and fails to communicate with Lighthouse Management a plan to get caught up will receive a 3-day notice from our office. This notice asks them to pay the balance due, including late fees, or leave. If the tenant fails to do either, the notice informs them that we will have no other course than to pursue a remedy in court.

Once 3 business days pass from the date of receipt, we refer the tenant to our attorney. The attorney will file for a court date and hire a marshal to serve the subpoena to appear in court. The court date is usually about 2 weeks from the date of the filing.

During this time, the tenant is able to call and talk with us. We encourage the tenant to stay and pay. Many times we are able to withdraw the eviction based on communication received from the tenant.

Should our attorney have to appear in court on the court date, the judge requires our attorney to meet with the tenant prior to appearing before the Court. The judge asks the attorney and tenant to work out an agreement to bring before the Court. The attorney will try to work out terms that will be mutually agreeable, allowing the tenant to stay as long as the agreement is followed.

The attorney and tenant then appear before the judge. The judge hears the agreement, records it, and makes sure both sides understand.

In the event the tenant does not show in court, or no agreement can be made - a warrant for eviction granting possession back to you is sought. Often times the marshal must be hired to go out to serve the warrant of eviction. Lighthouse’s staff will meet the marshal on the eviction date and secure the apartment once the tenant is removed.

The cost of eviction typically is $425.00, which includes the attorney’s fees, court costs and service of process. However, it does not cover the cost of the marshal, should they need to be hired to remove the tenant. All of these costs are born entirely by the property owner, you. Lighthouse does not charge a fee for coordinating or participating in the eviction process.


Have more questions about our agency? Contact Lighthouse Management of Buffalo, New York, for a consultation.

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Why Choose Us?
•GRAR & BNAR, Licensed Broker
•Licensed NYS Real Estate Broker
•Courteous Personalized Service

Hours of Operation:
Monday–Friday, 9:00 a.m.–5:00 p.m.