How do Owners get their rent payments?
We use a payment method for paying our owners, called eCheck. The process is extremely secure with multi-factor authentication. Owners need a U.S. mailing address and a U.S. bank account in order to receive rent using eCheck. eCheck payments can be made to owners with APO military addresses. Most rent payments will be deposited the next business day after their rent has been collected.
What is a Tenant Portal and how does it work?
The Tenant Portal is an easy, fast, convenient and secure way to pay rent online, view your payment history and submit maintenance requests. Simply hop on your computer and in just a few minutes, your rent is paid! Or remove all doubt and schedule a payment in advance so your rent is paid automatically. Your information is password protected and all transactions are both encrypted and securely transmitted.
What is an Owner Portal and how does it work?
Owners and managers can access concise statements covering the performance of your property for the previous month from any computer or mobile device 24/7. In order to keep your financials secure, we use a state of the art 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 and enter your email address and password. If you are a new user, you will be prompted to set up a password. You can also securely contribute funds if desired through the Owner portal.
What is RentMatch Comparison report?
RentMatch 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 provides its data by aggregating other customers’ anonymous rent information to provide comparative rental rates in the area. Comparisons are made based on the similar bedroom and bathroom count, unit location, square footage, and advertised rent amount.
I showed my rental to potential renters. What should I do next?
Fantastic! 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, collecting a security deposit and conducting a move-in inspection.
I finally signed a lease with my new renters. What next?
Great work! Please provide us with a copy of your signed lease by submitting a Contact Us form. We’ll set up tenants’ portals and start collecting your rent and fees for you. Please don’t forget to update your banking information in your Owner Portal.
Who handles the security deposit at move-in and move-out?
We recommend that you collect the security deposit from your renters at the Lease signing. Virtual Rent can also collect the security deposit. We use an eCheck payment method to deposit it into your preferred bank account immediately upon collection. We do not charge any fees for collecting your renters’ security deposits. Please don’t forget to update your banking information in your Owner Portal. It’s your responsibility to return the security deposit to the renters when they move out. Unfortunately, at present time we don’t handle security deposit returns.
Do you send rent reminders to my renters?
Absolutely! All current renters receive an email and a text message rent reminder before the rent is due. We also send your renters a late rent notice if they are late paying rent.
Do you collect late fees if my renter did not pay rent on time?
Yes, if your lease specifies late fees. We ask that you provide us with your current signed lease so that we can set up the late fees to be charged to your renters if they are late paying rent. We also need a copy of your signed lease for our collection service in the event your renters incur any unpaid delinquent charges.
How does the rental application/screening work?
At the time of the application, a prospective renter is asked 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 renter’s 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 owners or property managers. But we will notify you if there are any issues present. Renters are welcome to request a copy of their own screening report.
I did not screen my renters with Virtual Rent’s screening service, can you still collect my unpaid rent and fees?
No. Our collection service is only available if Virtual Rent has screened the renters and has copies of all signed leases since the screening took place.
My renters have a maintenance request. What should I do?
Your renters are welcome to submit a Maintenance Request online through their Tenant Portal. We will promptly notify you of any maintenance requests.
Who handles maintenance, repairs and inspections?
In order to preserve and increase the value your rentals we leave the most important decisions and oversight to you. We help you do that by sending you reminders to inspect your rentals and schedule routine maintenance.
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 owners and property managers only. Please Contact Us with a military discount request.