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property management and miscellaneous frequently asked questions

As an investor or potential investor we are sure you have questions with regards to what you expect from your property management company. We have put together a list which can help you determine if the service is right for you and what you can expect from us. We hope you find them helpful.

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Helpful property management information for landlords

Here you can read through common frequently asked questions about property management and rental properties answered.

  • Can you take over existing properties currently managed by other individuals or professionals?

    Yes. Immosence often take over the management of properties already being managed by private individuals or other management companies who may not be providing an ppropriate service.

    If you would like Immosence to assist you by managing an already managed property we will do all the work so you can relax. We will contact current property managers for all legal documentation that we require in order to effectively take over the management. We will endeavor to inspect all new properties in order do asses any outstanding maintenance issues and carry out rent reviews to ensure that the most competitive market rents are being obtained.

  • What information and documents do you need from me in order to manage my property?

    Documents required in order to manage your property are a proof of your ownership, your complete contact details, your bank account details for transferring received rents, existing tenancy agreements, existing service provider and supplier contracts. You need to sign the management contract and give us power of attorney.

  • When and how do I get paid my rental income?

    All rent is payable monthly in advance by the tenant into the management account. At the 15th day of each month we send you an accounting statement. This can be send electronically via email or via post. Interim statements during the month can be sent at your request. The rent is paid directly into your nominated bank account.

  • How frequently do you carry out inspections?

    We record at our first property inspection the details and condition of the property. We recommend that properties are inspected quarterly, as these inspections can help keep maintenance costs down by dealing more regularly with any items.

  • How much can I rent my property for?

    We offer a free no obligation market analysis which provides average market rents in your area. 

  • How long does it take to lease my property?

    This is based on the current condition of the market, location and condition of the property itself. Our typical time frame is 30 to 60 days.

  • How do you qualify prospective tenants?

    We ask all tenants to fill out an application form and then complete credit checks, criminal background and eviction checks, we verify landlord references, employment and income.

  • What is the average length of tenancy?

    It is most common in the rental of residential units that the tenancies are arranged for a minimum term of 12 month. The average length of tenancy is about 3 to 7 years.

  • What happens when a tenant gives notice?

    A tenant is required to give 3 months notice in writing to vacate an appartment. We enter this information in our system. We send the tenant a letter confirming all details. We will start to market for new tenants as soon as the current tenant has given notice. This allows us to reduce potential vacancies.

  • How do you market a vacant apartment?

    A professional real estate sign is placed on the house/window. Multiple pictures are taken. The apartment is placed to multiple websites and newspapers.

  • How are the security deposits handled?

    We handle the security deposit for the tenant. According to the law, there are special requirements for the handling of deposits. We keep the deposits in a separate account. We conduct a move-in condition report of the apartment prior to the tenant moving in. We do it again when they move out. So we can lawfully deduct any damage or rent arrears.

  • What do you do when tenants move out and there are damages?

    If damages are identified we inform the landlord asap. Sometimes the deposit needs to be retained when the tenant has left the apartment in a unsatisfactory condition or when there is any damage which needs remedying. No deposits are refunded unsless we are completely satisfied that all rents are paid and any damages are accounted for.

  • What happens if a tenant does not pay rent?

    The rent is due on the 3rd day of each month. We monitor tenant arrears on a weekly basis. When a tenant is 7 days in arrears we will contact him via telephone or email. On the 14th day we will post a reminder giving him 10 days to clear. A second late notice will be send out after that term to pay or to vacate. If we still have not received payments until the end of the following month the owner is notified and eviction papers are filed at court.

  • Do you handle delinquent rents and evictions?

    Yes, we handle them quickly and professionally. We go to court and have attorneys available as needed.

  • How do you handle repairs?

    It is our agreement with you, that we can authorize repairs up to 500 EUR on your behalf. If the maintenance emergency service requires more than that you will be notified immediately. Working with a network of trusted local contractors we can offer the delivery of any necessary works. Routine maintenance is included in your management fees. We also support you on larger-scale development works.

  • Who do tenants call with an emergency issue?

    The caretaker company offers an 24 hours emergency number to your tenants which is displayed at the information sheet in the entrance area of the property.

  • Can you help with my property development?

    We have many years experience in project development, so we can assist you through the development process by preparing operating budgets, planning for operational efficencies and identifying potential problems.

  • Where do Immosence operate?

    Immosence manage properties in Leipzig and is available to serve clients in troughout saxony, thuringia and Berlin.

  • What are your office hours?

    Our office hours are from 9am to 5pm from Monday to Friday.