- What are ePayments and how can I receive them?
- How do I request a portal password or change my portal password?
- Can I view my monthly statements online?
- When and how do you disburse payments to homeowners / landlords?
- Do you require home insurance for the homeowner / landlord or rental insurance for the tenant?
- I want to move back into my property but it is currently tenant occupied. What can I do?
- Will you manage my HOA account?
- I’m in town this weekend and would like to inspect my property. Can you assist?
- Can I refer my friends to you for property management services?
- I would like to sell my rental property. Can you help?
- I’m interested in expanding my rental property portfolio. Can you help?
What are ePayments and how can I receive them?
- ePayments are owner draw payments that are directly deposited to a bank account of your choosing. There is no additional charge from Park Avenue Properties for you to set up this form of electronic payment. To set-up ePayments, log into your owner portal. From the My Account page of your portal, click the View Detail link that appears in the My Contact Information section. From the View Contact Info page, click the Edit Payment Account button. Follow the prompts to make the appropriate changes and save when done.
How do I request a portal password or change my portal password?
- You can request a portal password from the portal log in screen or call our office at (888) 372-7528 during business hours and a Support Team Member can assist with your request. When you request a password, an automated email with a system generated password and link to log in to your portal will be sent to the email address Park Avenue Properties has on file. The system generated password is case sensitive and should be typed exactly as shown in the automated email. If you have tried to log in multiple times from the same browser and are unable to access your portal, you may need to clear your browser’s history/cache before attempting to log in again.
- To change your portal password: From the My Account page, click the Change Email and Password link that appears on the right side of the screen in the My Contact Information section. Make appropriate changes and click Save when done.
Can I view my monthly statements online?
- Yes, a monthly statement is available to view in your owner portal after the end of the month. The Statements section of the Owners Portal allows you to:
- View Owner Statements that have been Published to the Owner Portal
- View Owner Draws and Contributions
- Create New Owner Draws
- To View Published Owner Statements:
-Requires Adobe PDF Reader. Click here to download the latest version today.
-Click the Statements tab. Any published statements will appear in the Statements table at the top of the page.
-To view the Owner Statement, click the View option from the Action dropdown menu. The Owner Statement will appear in a separate window, as an Adobe PDF document.
When and how do you disburse payments to homeowners / landlords?
- All rent is due on the 1st and late after the 5th. Property owners are paid after rent is collected and cleared. Rents collected by the 15th of the month will usually be disbursed via ePay between the 16th and 23rd. Rents collected after the 15th will usually be disbursed between the last day of the month and the 4th of the following month. Please keep these dates in mind when scheduling your monthly mortgage payments. A monthly statement will be posted to the online owner portal at month end and will include all income, expenses and owner draws collected and disbursed during the month. Owner draw payments are disbursed via direct deposit to a checking or savings account of your choosing. There is no additional charge to our homeowners for this service. See FAQ #1 regarding ePay for more information.
Do you require home insurance for the homeowner / landlord or rental insurance for the tenant?
- Yes, for the homeowner / landlord. The Error and Omissions (E & O) insurance provider requires that homeowners / landlords carry a minimum of $500K liability insurance. The minimum liability coverage allowed in the State of NC is $300K. You will need you to call your insurance agent and inquire if you have $500K in liability coverage. There is a good chance you already have $500K coverage or already have invested in the $1M umbrella policy allowed in the State of NC. Park Avenue Properties’ insurance provider has reported the $200K increase in liability coverage will add no more than $10-20 per year, not per month, to your existing policy(s). Rest assured, this small annual increase is well worth the extra $200K in coverage. Due to rising attorney defense costs, this is a requirement by the insurance provider and you will need it to do business with Park Avenue Properties. As proof of coverage, a copy of your declaration policy page from your insurer showing the $500K liability coverage will be requested upon signing a property management agreement. This extra coverage is for your protection and Park Avenue Properties respectfully encourages you to increase your coverage even if you do not use our services. All tenants are not required but are strongly encouraged to obtain Renters Insurance to protect their household goods. Their decision, yes or no, does not impact our Firm or the homeowner / landlord. Renters Insurance is not enforced or tracked by Park Avenue Properties.
I want to move back into my property but it is currently tenant occupied. What can I do?
- The current tenant does have the right to have the lease obligation fulfilled. However, your property manager will discuss the situation with the tenant to determine if they have an interest in vacating early. In some cases an early termination fee is offered to the tenant by the homeowner to motivate them to vacate early. Your property manager will review all possibilities with you and the tenant to help negotiate a possible exit strategy.
Will you manage my HOA account?
- As the homeowmer you are accountable to continue to pay your mortgage, taxes, insurance and HOA dues. We will be a point of contact between your HOA and your tenant. We will help resolve any HOA issues or violations and provide any updates to your tenant that the HOA communicates. You will want to provide your property managers information to the HOA company so they are able to communicate with us directly. Otherwise, the HOA will communicate with you and you can send this information to your property manager who will update your tenant. However, payment of HOA dues is maintained by you, the homeowner.
I’m in town this weekend and would like to inspect my property. Can you assist?
- Yes, your property manager will communicate with your tenant to advise them of the day and time you would like to schedule an inspection. Per the terms of the lease agreement, 24 hour notice should be provided. The tenant is not required to be present in order for you to have the ability to inspect your home, but proper notice by your property manager must be given to the tenant.
Can I refer my friends to you for property management services?
- Of course, and thank you for asking! To get started, please talk to your property manager, call our office or contact us here.
I would like to sell my rental property. Can you help?
- Park Avenue Properties is an exclusive Property Management firm. Although we cannot list your property for sale, we have an extensive network of reputable firms and agents that we can refer to you for listing your property to sell. If you were referred to us by a Realtor outside of our firm, we recommend working with that Realtor to sell your property.
I’m interested in expanding my rental property portfolio. Can you help?