Owner FAQs

Answers to your frequently asked questions

  • Am I required to make my property available to Section 8?

    As of January 2024 you are not able to deny a tenant for the reasons of having section 8. We also are not able to deny them for not meeting our credit requirements. A denial can be other reasons such as accounts in collections or history of late payments.
  • How long will it take to rent my property?

    There are several factors that play into how quickly a property rents. First, is the property vacant or occupied. Vacant properties tend to rent sooner than occupied properties. Second, is the condition of the property. When a property is clean, painted and ready for the next occupant, it is a lot easier to visualize oneself in the home. Third, is market demand. Currently, the rental market is hot, therefore the average days on market is about 25. Some homes rent within 72 hours of coming on the market while others take 30-days to rent.
  • Are you licensed?

    Yes, we are licensed by the Department of Real Estate.
  • Can I reach you after hours?

    Absolutely! We have 24/7 answering service. Phone numbers are located at the top right of this page.
  • Can you put the money directly into my account?

    Yes, we can! You will receive your money within 24-48 business hours after we receive the rent from the resident.
  • Do I get to see the lease or sign it?

    As your property management company, we handle all the lease preparation and execution. We will send you a signed copy of the lease for your records.
  • Do you sell real estate too?

    Yes we do! We are licensed Realtors that can ensure you top dollar for your home if you decide you want to sell it. Ask us about discounted rates if you sell with us!
  • How and when do I get my checks?

    Rent is due between the 1st and the 5th of the month. Once the rent is received in our office, we will process it and send it to you electronically within 24-48 business hours, if you have signed up for this method of payment. If not, then a check will be mailed to you.
  • How is rent collection handled?

    Residents can remit payment through the online portal. This makes paying rent hassle and stress free.
  • How long of a lease do you sign?

    Our leases are typically 12 months in length. Occasionally, we will have a resident that needs a 6-month lease, however, we will contact you first.
  • How much security deposit do you charge the tenant?

    As of July 2024 we are required to collect a security deposit amount that is equal to the amount of charged rent.
  • How soon can you start managing my property?

    We can start managing your property as soon as you sign the contract. Start to finish the process takes about 48-business hours.
  • What type of properties do you manage?

    We specialize in single-family homes, and condos but have the ability to do all kinds.
  • What type of reports do I get and how often?

    You can access your account 24/7 via your online portal. In your portal you will find the monthly newsletter, your accounting statement, any violations that may have been issued to your resident, and more.
  • Who holds the residents security deposit?

    Magnum holds the security deposit as long as we manage the property in a non-interest-bearing trust account. Upon the resident moving out, we will disperse the deposit based on the condition of the property.