Owner FAQs

You will receive an Owner Statement monthly. The purpose of your statement is to summarize all transactions that took place over the course of the previous month. Your statement is meant to be simple and to the point, but comprehensive enough so you have a full understanding of what took place.

All applicants must be treated the same according to fair housing. Under no circumstances is it allowed to turn away an applicant for the sole reason of providing a section 8 voucher. Affordable housing programs, or section 8, offer rental assistance to qualified applicants. They can be a great partner to investors, so long as the property is kept up to the given housing authority standards. Standard screening of section 8 applicants remains critical. If an owner chooses not to make repairs that are required by the housing authority, the property will not qualify for a section 8 voucher.

Frank Poe is a broker licensed in Alabama holding the salesperson license of both Monica and Jonathan. Our agents are highly qualified to take you through your next real estate transaction. A broker's license is required to take part in the lease or rental of real estate for compensation, a licensed salesperson is not legally qualified to manage your property if you are paying a management fee.

Jonathan is available to take phone calls and respond to emails around the clock. If the situation is an emergency, do not call us, call 911 and inform someone at the company as soon as you can.

You are absolutely welcome to review any given lease before tenant placement, however your signature is not required. Any and all significant changes made will be reviewed with you for your approval. We highly recommend you review commercial or more complex leases if it applies to you.

We direct deposit owner payments by the 5th of every month for the previous month's balance. If direct deposit is not for you, we also can mail you a check.

Rent comes due each month on the day that the lease was signed. Tenants have access to our tenant portal that allows them to pay rent and submit maintenance requests, although we do accept cash, check, and money orders in the office. In the event a tenant misses a payment, we immediately begin calling to find out what has happened. If we have not heard from the tenant after 10 days, we will begin leaving notices at the door and checking for occupancy in case of abandonment.

Typically, our residential leases are year-to-year with an automatic renewal, included is a minimum requirement of 30 day notice to non-renew. Leases can vary especially when it comes to commercial property but the important thing to note is we can add/delete portions of the lease prior to signing in order to suit specific rules and regulations you would like to see for your property.

Security deposit is always equal to the first month's rent. We hold the deposit in a secure account separate from any non-deposit monies. We also require a non-refundable deposit of $250 per pet. In the event that damages exceed the amount of the deposit, we send the previous tenant a bill to collect for excess damages.

The beauty of working with Frank Poe Real Estate is that your level of involvement is completely up to you. We have many owners that prefer to step back and trust our judgment when it comes to operational decisions and caring for the property. And on the flip side we have owners that want in on the action and participate in solving maintenance issues and renting the property. Bottom line is we do not expect anything from our owners outside of responsibility, honesty, and a good attitude, any additional involvement is welcomed but not required.