Owner Frequently Asked Questions

  • Q: How much will my home rent for?

    A: Various factors will determine the amount of rent you can get for your property: Location, condition, square footage, number of bedrooms and baths, and general curb appeal will contribute to determine the best rental rate for a property. It is part of our job to visit the property in order to make a good assessment and quote a fair rate. Arriving at the best rental rate is a formulaic process that takes specific factors into account. The rental rate that Cherry Blossom Property Management, LLC recommends is subject to the owner's approval.
  • Q: What happens if tenants do not pay their rent?

    A: We make sure our residents know we represent a landlord who expects rent payments on time. We also make sure they know that we have a zero tolerance policy on late payments. Our leases clearly state that rent is due on the first day of the month. Maryland law allows for tenants to pay by the fifth day of the month, without penalty. However, any rent not paid by the fifth incurs a 5% penalty. Payments not received by the tenth day will trigger court action. We do not hesitate to file a case with the District Court, and a judge will send out the sheriff to personally post a notice ordering tenants to appear in court on a specific date as ordered by the judge.
  • Q: What is the process for emergency maintenance requests?

    A: If we receive an emergency maintenance request, we will immediately dispatch a vendor and have the work completed. Emergency maintenance requests are defined as:
    • No Utilities (electric, water, HVAC – temperature dependent)
    • Flooding
    • Significant storm damage
    • Significant threat to life, health, safety
  • Q: How long does it typically take to schedule a vendor for a maintenance request?

    A: Depending on the situation, we may first have to call for owner approval. We contact owners as quickly as possible and provide them with all available information. Once we have owner approval, a vendor is dispatched to diagnose and fix the issue at your home.
  • Q: Does the owner pay for every maintenance request?

    A: No, accidents happen. We evaluate each invoice and situation to determine if it is the owner’s responsibility or a resident’s responsibility to pay for the maintenance work.
  • Q: How informed will I be about what happens with my property?

    A: As informed as you want to be. Owners have the choice to be kept informed of all communications regarding work orders or other resident requests. Once we receive rent payment, they are quickly disbursed to owners via direct deposit to the account provided. Owners can go online 24/7 to get monthly statements via a password-protected login. We also email these monthly.
  • Q: When do you disburse the owner's payments?

    A: We do an ACH deposit on the 10th of each month to into your account with your net proceeds.
  • Q: What type of reports do I get and how often?

    A: You will receive a ledger each month that itemizes all rents received, expenses incurred if any, and the balance of funds in the account. At the end of the year, we will provide a Year End Statement as well as a 1099 for your taxes.
  • Q: Who holds tenants' security deposit?

    A: We hold the security deposit in a separate Escrow account. It is illegal to comingle funds and security deposits must be in a separate account than rents and other revenues.
  • Q: Can I expect to be contacted by tenants, HOA or neighbors?

    A: We never give out your contact information. If tenants do research and somehow are able to contact you directly, please refer them back to us.
  • Q: Do I get to see the lease or sign it?

    A: Yes, we will send the lease out to all parties to sign. We do not sign the lease on your behalf.
  • Q: What type of properties do you manage?

    A: We manage residential single family properties including detached homes, townhomes and condominiums, and multi-family properties.
  • Q: How soon can you start managing my property?

    A: We can take over management immediately. All you would need to do is sign our management agreement and complete our new owner paperwork. If there is a tenant in place, we can notify the tenant of the management change.