1. How do Landlords get their rent payments?
We use a payment method for paying our Landlords, called eCheck. The process is extremely secure with multi-factor authentication. Landlords need a U.S. mailing address and a U.S. bank account in order to receive rent and fees using eCheck. Landlords can securely enter their banking information in their Owner Portals. The eCheck payments can be made to Landlords with APO military addresses. Most rent payments will be deposited the next business day after their rent has been collected.
2. What is a Tenant Portal and how does it work?
Our Tenant Portal is an easy, fast, convenient and secure way to pay rent and fees online, view payment history and submit maintenance requests. Renters can schedule a payment in advance, so that rent is paid automatically. Renters’ information is password protected and all transactions are both encrypted and securely transmitted.
3. What is an Owner Portal and how does it work?
Landlords can access their rentals documents and statements covering the performance of their property for the previous month from any computer or mobile device 24/7. In order to keep your bank account information and documents secure, we use a state-of-the-art Owner Portal system that requires you to login with an email address and password. Each time you wish to view your reports, you must visit the portal online and enter your email address and password. If you are a new user, you will be prompted to set up a password.
4. What is RentMatch Comparison Report?
RentMatch Comparison Report is a rent comparison tool that helps you to quickly analyze your rental prices compared to other units of similar size and bedroom count rented in the same geographical area. RentMatch report provides its data by aggregating other customers’ anonymous rent information to provide comparative rental rates in your area. Comparisons are made based on the similar bedroom and bathroom count, square footage, and advertised rent amount.
5. How is my rental property marketed to prospective renters?
Our Landlords provide us with desired property description and photos, as well as vacancy date and their best contact information. Virtual Rent posts this information on our website and on nearly 100 partner websites. We then forward you all prospective leads for your follow-up.
6. Who shows my rental property and negotiates the lease?
The Landlord does. Virtual Rent is not a property management company and therefore cannot show your rental property or negotiate any terms of lease on your behalf.
7. I showed my rental to potential renters. What next?
You are well on the way to rent your property. Your prospective renters should submit a rental application found on our website under Available Rentals. We will screen the renters and forward you their application for your decision. The next step is signing a lease and collecting a security deposit. Please don’t forget to forward us your signed lease. We’ll set up Tenant Portals and start collecting your rent and fees for you.
8. How does the rental application/screening work?
At the time of the application, a prospective renter is asked to provide a proof of ID, proof of income, residential and employment history for the past three years, as well as pay a non-refundable application fee. We forward you the completed application once we receive it. In addition, we conduct a credit and criminal check on all adult applicants. Unfortunately, our agreement with Experian does not permit us to share the screening report with our Landlords. Instead, we’ll give you a call to discuss your prospective tenant application. Applicants are welcome to request a copy of their own screening report.
9. Who handles the security deposit at move-in and move-out?
The Landlord does. It’s your responsibility to collect the security deposit and return the security deposit to the renters when they move out.
10. Do you send rent reminders to my renters?
Absolutely! All current renters receive monthly rent statements via email, and a text message rent reminder before the rent is due.
11. Do you collect late fees if my renter did not pay rent on time?
Yes, if your lease specifies late fees. We will schedule all fees and charges as specified in your signed lease to automatically post in Tenant Portals.
12. I did not screen my renters with Virtual Rent’s screening service, can Virtual Rent still submit my unpaid rent and fees for collection?
No. Our collection service is only available if Virtual Rent has screened the renters and has record of all financial transactions and copies of all signed leases since the screening took place.
13. My renters have a maintenance request. What should I do?
Your renters can contact you directly to resolve maintenance issues. They are also welcome to submit a Maintenance Request online through their Tenant Portal. We will promptly notify you of any maintenance requests.
14. Who handles maintenance, repairs and inspections?
The Landlord does. In order to preserve and increase the value of your investment we leave the most important decisions and oversight to you.
15. Do you offer military discounts?
Yes! To thank those that serve, we offer a 10% military discount for all active, retired or honorably discharged U.S. military members. Military discounts are available to Landlords only. Please contact us with a military discount request.