Owner FAQs

Frequently Asked Questions

Company Overview

• What services do you provide?

  We are a comprehensive brokerage, property management, and construction company. Our team is well-equipped to assist with every aspect of planning, purchasing, renovating, managing, and maintaining rental properties. We offer both full-service and à la carte support tailored to meet the needs of our clients.

• Where do you provide management services?

  We provide management services in Albany and Rensselaer County, and the City of Schenectady.

• What services are included in the monthly management fee?

  
  

  • Tenant Communication: Addressing tenant inquiries, complaints, and requests—we serve as the face of your property.
  • Rent Collection: Managing rent payments and resolving any related issues.
  • Financial Reporting: Providing detailed monthly financial statements, including income, expenses, and profit/loss reports.
  • Maintenance Coordination: Scheduling and overseeing routine maintenance and repairs.
  • Lease Management: Administering lease agreements, renewals, and terminations.
  • Vendor Management: Coordinating with and supervising vendors and contractors for various services.
  • Legal Compliance: Ensuring compliance with all local, state, and federal regulations.
  • Owner Portal: Providing access to an online portal for owners.
  • Tenant Portal: Offering tenants access to an online portal for managing requests and payments.
  • Vendor Portal: Vendors also have access to a portal for streamlined communication.
  • Tax Reporting: Assisting with the preparation of tax-related reports.

• What types of properties do you manage?

  We manage a wide range of properties, including single-family homes, small and large multifamily buildings, affordable housing, rooming houses, student rentals, mixed-use properties, commercial spaces, self-storage facilities, and development projects.

• What are your monthly management fees?

  Our monthly management fees can be found here: https://www.albanyspropertymanagement.com/pricing

• Do you charge any additional fees?

  Our monthly management fees cover the bulk of your services. In addition to management fees, you should expect to be charge:

  • Property Onboarding, Tenant Onboarding, Walkthrough Fee: $60/unit *no charge if property purchased with Rooted Property Group
  • Leasing Fees (see: “What are your leasing fees?”)
  • Maintenance Fees: unlike most management companies that place a standard markup on all labor and materials, we carefully consider the ROI and cash flow needs of our clients, and strive to leverage bulk discounts and economies of scale to save all owners money. We do not follow the standard management billing formula (retail price + 10-30% mark up); instead, we work to leverage our discounts or connections to charge fees at our under retail pricing, rather than over. This saves your money and valuable time, as you do not need to coordinate these services.

• How do I get started with management services?

  Our onboarding process is designed to be straightforward and comprehensive. Once you choose to work with Rooted, we provide an onboarding checklist to guide you through each step. This process ensures your property complies with state and local regulations and is stabilized to maximize cash flow.

• How can I contact your team for more information?

  You can reach us quickly through the chat feature on our website (rooted518.com) or by emailing us at office@rooted518.com. To schedule a call, please send your preferred date(s)/time(s) via chat or email.

Maintenance

• How are maintenance requests handled?

  Tenants are instructed to submit maintenance requests through the Rentvine tenant portal. Upon receipt, you will be notified for review and approval. Once approved, we assign work orders based on the urgency of the request.

• Do you conduct property inspections? How often?

  Yes, we conduct property inspections at least twice a year; we suggest quarterly visits to ensure the property is well-maintained.

• What recurring maintenance items do you handle?

  We handle routine maintenance tasks such as HVAC servicing, pest control, landscaping, and seasonal upkeep. Specific tasks can be tailored to your property’s needs.

• Can tenants reach you in case of an emergency?

  Yes, tenants have access to an emergency phone line, which becomes available once they are onboarded. The phone number is 518-240-5151 extension 1. Individuals should only use this line of true emergencies.

• How do you handle emergencies?

  We provide a 24/7 emergency line for tenants to report urgent issues. Our team prioritizes preventative maintenance to minimize emergency situations. We work to diagnose after hours, weekend and holiday emergencies over the phone and, whenever possible, assist tenants with a temporary fix until an issue can be fixed during business hours, saving you a tremendous amount of money.

  We strongly encourage preventative maintenance, regular walkthroughs, and storing emergency items on-site such as space heaters.

  We do not handle lock outs unless it is due to a malfunctioning egress. Tenants are responsible for calling a lock out service.

• What should I do if I want to deny a work order?

  If you wish to deny a work order, please review the request promptly and notify our team. It is critical your notifications are properly set so you review work order updates if you wish to actively review and approve these items. If it involves safety or code compliance, we will advise you accordingly.

  Non-urgent items are not filled immediately, so owners are allowed time to review and discuss requests with management.

• Do you have an in-house maintenance team?

  Yes, we have an in-house maintenance team as well as trusted subcontractors for specialized and licensed work.

• Can I use my own contractors for repairs?

  Yes, you may use your own contractors, but clear communication is essential. If you prefer to consistently work with your contractors, please coordinate with our team in advance. For non-urgent projects, using your own contractors is typically acceptable. However, we generally refrain from sharing access details, such as keys, with external teams to avoid issues related to misplaced items.

  Please note that we cannot supervise, approve, or schedule work directly with external contractors due to liability and logistical concerns. Ensure that your contractors are insured and reputable, and that you keep a copy of their insurance on file.

• Will you assist with inspection renewals, such as Certificates of Occupancy (COs) or Rental Occupancy Permits (ROPs)?

  Yes, we do assist with inspection renewals. It is important that you notify us promptly upon receiving any renewal notices to maintain compliance. Since renewal notices are sent directly to property owners and deadlines may vary, it is critical that you inform management as soon as you receive a notice of expiration or inspection. Additionally, please provide accurate expiration dates for tracking purposes. Staying diligent in your compliance is crucial, as many cities impose significant penalties for operating without the necessary inspections or certifications.

Rent Collection

• What happens if my tenant doesn’t pay rent?

  We have a systematic process for addressing late rent payments:

  • 1st of the Month: If rent is unpaid, tenants receive reminders, which continue daily until payment is received.
  • 5th of the Month: Late fees begin on the 6th, and we communicate with tenants to understand their situation.
  • 6th of the Month: We send certified 5-day notices, followed by 14-day notices if necessary.
  • Evictions: Rare due to our proactive communication, but we assist tenants in finding financial assistance if needed.

Communication

• Do you provide an online portal for owners and tenants?

  Yes, we provide an online portal for both owners and tenants to access important information, work orders, and financial reports.

  Owners can access their portals via rentvine.com. If you have not received or accepted your invite, please reach out to the management office. Access is critical in order to receive real time updates.

• How will I receive updates on my property?

  You will receive updates through the owner portal, monthly financial statements, and quarterly check-ins. You are also welcome to reach out at any time via the chat feature at rooted518.com or emailing office@rooted518.com. To schedule a call, please send your preferred date(s)/time(s) via chat or email.

• How do I receive financial reports?

  Financial reports are made available through your owner’s portal after distributions are sent.

• Do you provide end-of-year tax reports?

  Yes, we provide tax reports at the end of the year.

• What should I do if I want to visit or enter a unit?

  Please provide us with at least 36 hours' notice so we can inform tenants in compliance with local regulations.

Owner Finances

• What is the purpose of reserves?

  Owner reserves are funds set aside to cover emergency or urgent repairs after distributions have been made. These funds ensure smooth operations and timely contractor payments.

• Can you manage my property without reserves?

  No, we require reserves to protect your property and maintain operational efficiency.

• When are owner distributions sent?

  Owner distributions are typically sent on the 15th of each month, unless that day falls on a weekend or holiday, in which case distributions are sent the prior business day.

• Can you send distributions sooner?

  Distributions are sent only after tenant payments have cleared, which can take 5-7 days. We also wait for any returned payments to ensure accuracy.

• How can I view money in and out of my account?

  You can review your financial information, including your ledger and statements, through the owner’s portal on Rentvine.

• What expenses am I responsible for as a property owner?

  Property owners are responsible for expenses such as property taxes, utilities, insurance, and any maintenance costs not covered by tenant rent.

• Do you assist with paying property bills, taxes, or utilities?

  No, these items must be kept in the property owners name and paid per the directions provided by the billing party.

Leasing

• How do you determine the rental value of my property?

  We use a combination of market data, Fair Market Rents (as defined by HUD), and an assessment of the property’s condition and features to recommend rental rates. Owners have the final say in pricing decisions. Factors we consider include property condition, amenities, parking, room size, heating system, and more. Our goal is to minimize vacancies while leasing to qualified tenants. Current Fair Market Rents can be found here: https://www.huduser.gov/portal/datasets/fmr/fmrs/FY2025_code/select_Geography.odn

• What is your process for finding and screening tenants?

  In line with Fair Housing regulations, we employ a thorough vetting process for all tenants. This includes a review of credit scores, background checks, proof of income or rental assistance, employment verification, and prior landlord references.

• Do I get to approve tenants?

  Yes, you will receive detailed application notes for review, and the final approval of applicants is always up to you.

• Do you create lease and lease renewal agreements?

  Yes, we handle the preparation and renewal of lease agreements, which are sent to you for review and approval.

• Does Rooted hold security deposits?

  Rooted collects security deposits during leasing but transfers them to owners for long-term holding. We track and manage deposit records to ensure compliance with state laws. Owen held deposits are visible in tenant and owner portals.

• What is Qira or other security deposit replacement programs?

  Qira and similar programs allow tenants to pay a monthly fee instead of a traditional security deposit. These programs also offer added protection for rent in case of non-payment. If your tenant opts for such a program, it will be recorded in our system. If you wish to opt out of offering this option, please info the management office.

• What are your leasing fees?

  We charge one month's rent as our leasing fee, which is collected through the portal when the tenant pays their first month's rent. For units renting at over $1,500, or for multiple units in the same building, the fee is reduced to 80% of one month’s rent.

  We understand that some may feel this fee is high and might wonder if it can be reduced. It's a valid question, especially when focusing on ROI. However, our leasing team is highly experienced, and we use industry-leading systems to provide exceptional service. We’ve carefully vetted all available property management tools and selected the best to ensure tenants have a seamless first experience, your units are marketed to a broad audience, and everything is done in a timely and efficient manner.

  This fee covers a range of services, including the advanced technology we use, tenant screening (where we absorb additional costs due to NYS screening fee caps), advertising (as most platforms are no longer free), administrative support (who handle tenant communications and document collection), leasing agent commissions (which include taking photos, creating listings, conducting showings, and managing all tenant interactions), as well as move-in coordination, insurance, and licensing fees. Our agents also undergo fair housing training to ensure compliance with legal standards.

  When you break down everything involved in a professional and compliant leasing process, the value is clear.

  We believe that minimizing vacancy is critical to maximizing your income, as vacant units pose significant risks and lost revenue. That’s why we are committed to having the best staff and resources in place to lease your units to qualified tenants as quickly as possible.

• Can I handle my own leasing?

  Yes, but you must provide us with complete tenant information, including the lease agreement, security deposit confirmation, and tenant contact details. If we assist with any part of the process, a fee will apply to cover team fees.

Lease Renewals and Terminations

• What happens when a lease is nearing expiration?

  We run reports 100 days before lease expiration to assess whether leases should be renewed, allowed to expire, or roll into month-to-month status. Please inform us if you plan to raise rents or make other changes. We will coordinate with tenants accordingly.

• What if a tenant breaks the lease?

  We follow the terms outlined in the lease agreement and assist with releasing the unit if necessary. Our current lease states that tenants are responsible for the entirety of the rent balance due or, upon owner approval, tenants may break the lease with the following penalty: one month’s rent paid, security deposit forfeited, any property damages paid.

Insurance

• What are the insurance requirements for property owners?

  To help keep our monthly service fees low and to provide the highest quality services to you, we require that Rooted Maintenance and Development LLC (402 Feura Bush Road #55 Glenmont, NY 12077) be added as an additional insured on your landlord property insurance. This typically costs between $25–$50 per year. Please note, this does not entitle us to any funds in the event of property damage.

  The primary benefit of this requirement is that it allows our insurance teams to maintain open and direct communication with yours in the event of a claim. This streamlined collaboration has been highly beneficial to property owners. This is also a stipulation of our insurance provider.

  If your insurance agent is unfamiliar with working with property investors or expresses concern about this requirement, we encourage you to involve us in the conversation via email (office@rooted518.com). We are happy to communicate directly with you and your agent to clarify any questions or concerns.

• Is renters insurance required?

  Yes, our lease requires tenants to have renters insurance, and we take reasonable steps to enforce this policy. We regularly remind tenants that renters insurance is essential, as we are unable to cover personal items or losses that would typically fall under this type of coverage.

Onboarding

• What is the first step in onboarding?

  To begin onboarding, we will send you an onboarding checklist, and ask you to complete a short intake form.

  Once received, our team will review this form and quickly notify you if we are able to move forward with onboarding. We will then send a contract for your review and signature.

  Once received, the onboarding process begins and a detailed, and user-friendly checklist is provided. Rest assured we will make this process easy for you; if there are items our team needs we will clearly indicate the need for these.

  While our team can handle most of the onboarding, there are a few critical items needed from owners before we can officially take on management responsibilities, and these are all related to liability. We require:

  1. Signed Agreement: The management agreement must be reviewed and signed by the property owner prior to further onboarding.
  2. Access: We must have access to all units and areas of the property; if we do not, we can create work orders and address these access issues once reserves are funded. We cannot begin any work without reserves.
  3. Insurance: We must have proof of your landlord insurance with all proper information (see: “What are the insurance requirements for property owners?”).
  4. Reserves: Reserves must be funded in order for our team to walk the property. We must walk all properties prior to assuming management duties, as it is critical we take immediate note of any safety or code issues that must be addressed.

• How long does onboarding a property take?

  Onboarding timing varies. Some owners can onboard in as little as a week if they quickly provide all access, property and leasing information; other properties can take much longer if the requested items are not provided quickly.

  With our user-friendly onboarding system, you will see exactly where you are in the process and what items are needed.

Offboarding

• How do I terminate my management agreement?

  We will never hold unhappy owners to an agreement. While this is incredibly uncommon, if you are selling, self-managing, or seeking a change, simply send us an email (office@rooted518.com). We do request 30 days notice, but we will always try to process the request immediately. Please note it does take 2-4 weeks to ensure we have packaged all appropriate notes and reports, but we do not require owners to remain bound by an agreement.