How do I read my statement?
Please click here for a sample owners statement and tutorial.

My property is vacant; do I still get charged a management fee?
Yes. Our low monthly fee of $75 is billed when a property is vacant or tenanted.

Must I maintain a reserve in your Trust Account?
We do require a $400 reserve to be maintained in our Trust Account in an effort to ensure there are enough funds available to properly manage emergencies.

What happens to the security deposit from my resident?
All resident security deposits are held in our Trust account and handled in strict accordance with the AZ Tenant Security Deposit Act.

How much is your advertising fee?
Our advertising fee is $450 for Basic & $600 for Premium Ad Package. Please click here for our marketing section.

How do I pay management fees?
Management fees are deducted from your monthly equity distributions.

What if my resident does not pay?
If rent is not received on, or before, the 5th of the month, residents will receive a letter notifying them that they are in breach of the lease and payment must be made promptly. On the 13th of the month, a second letter will be mailed to anyone who has not paid their rent by that day. Summary Ejectment filings will be made on the 18th of each month should payment in full not be received by then.

What is done after a resident moves out?

• The locks are changed immediately after a resident moves out for safety and security reasons
• We will perform a "move-out inspection" of the property. Our goal is to complete all of the inspections within the first five business days after the resident moves out. During this inspection, we will determine any damage items that should be charged to the former resident, as well as recommendations of items that are in need of attention by you to preserve the value of the property and decrease the vacancy time. All of our findings are documented in both writing and digital pictures.
• We will supply you a summary of the inspection on, or about, the sixth business day of the month
• Once cleared for viewing and all work is complete we allow prospective residents to view your property to determine if they are interested in making it their home.

How does Metropolitan Management screen prospective residents?

• We perform a credit check, criminal background check, employment verification, and rental/mortgage payment history on every adult prospective resident
• We evaluate the lease rate/income ratio
• Upon approval, the prospect is given 72 hours to sign the lease and pay the security deposit

What does Metropolitan Management do before a new resident moves in?

• A move-in inspection is performed in which we document, both in pictures and writing, the condition and assess the need for any last minute items that require attention, such as light cleaning
• The property will be re-keyed to ensure safety and security of both the property and new resident
• A light cleaning will be performed to the interior of the property a few days prior to move-in as necessary

Do owners have to accept pets?
Pets are accepted on a case by case basis as determined by our clients. There is a one time non-refundable pet fee, which may vary depending on the number and size of pets, paid by the resident. For more complete information about accepting pets please contact Metropolitan.

How do we communicate with our owners?
We believe in prompt and thorough communication with our clients. Every staff member has their own telephone extension, voice mail and email. We send out monthly statements in an effort to keep our clients informed. Below are some of the instances that we will initiate additional communication:

• Summary ejectment filings
• Acceptable applications
• Notice to vacate from tenant
• What to expect when tenant moves out
• Lease renewals
• Extraordinary maintenance items

We are here to answer any questions that you have. Please contact us at any time

How much can my investment property lease for?
Your lease rate is going to be determined by several market factors including the condition of the property, location, and the rental rates for competing homes in the immediate area. Unfortunately, the markets that dictate lease rates vary vastly from the markets that influence value of properties. Please contact our office and we can discuss this with you as it relates to your specific property.

Can Metropolitan Real Estate help me buy or sell investment property?
Through our affiliation with reputable, experienced and established local REALTORS we can assist you in the acquisition and disposition of investment property. Should you have an established relationship with another REALTOR, we can assist you by working with them to make the process smooth.

Can I enter my property after it is rented?
All leases in Arizona are governed by the AZ Residential Rentals Agreement Act and provide for the covenant of quiet enjoyment. As a result, we do not enter the property and recommend the owner not enter the property except in emergency situations or when repairs have been requested by the resident. History has shown that repeated disturbances prompt residents to become unhappy and not be as willing to renew their leases. We usually try to give the resident 24 hours notice before we enter unless it is an emergency situation.

How much notice does a resident have to give before they can properly vacate a property?
Our lease provides that the resident give a minimum 30 day written notice that the lease will be terminated, with termination not permitted on any day other than the end of the month.

What does Metropolitan Real Estate need to start managing my property?
In order for us to begin the process of managing your property we need the following:

• Executed property management agreement
• Keys to the property, including mail box keys, if applicable
• Garage door openers, if applicable
• Certificate of insurance
• IRS form W-9
• Marketing form
• Credit Card authorization form or $400 reserve for maintenance
• Lead Based Paint Disclosure Addenda, if the property was built prior to 1978

How do I pay management fees?
Management fees are deducted from your monthly equity distributions.

Will you pay my monthly bills for me?
No. Under no circumstance will Metropolitan Real Estate pay for maintenance repairs or monthly bills. The maintenance reserve of $400 will cover any small maintenance emergency. In case the repair amount is greater than the reserve, we will provide Bids from trusted qualified maintenance service companies.

Can I view my account online?
We are running the web access system to view online detailed accounts. You can view open work orders, run financial & other reports, and view unit vacancy reports. To log in click here.