FAQs

OWNER FAQs

Frequently Asked Questions

Please contact us if you have any additional questions that aren't listed here.

  • Do I really need a property manager?

    That depends: do you want to be involved in the day-to-day operations of managing a property? If yes, then maybe full service management isn't for you. But if you are looking to make passive income and have someone else deal with the accounting, maintenance, complaints, deliqencies, etc. then that is what we are here for. 

  • What is your average turnover time?

    35 days from the time one resident moves out and another moves in, including time to flip the unit.

  • Are there any hidden fees?

    No, we pride ourselves on a transparent fee structure. The only fees assessed are placement fees and management fees. 

  • What areas do you serve?

    Greater Grand Rapids, Muskegon, Battle Creek, Hastings, Kalamazoo, and St. Joseph.

  • Do you charge a management fee if my property is vacant?

    No, fees are only charged on occupied properties. If you aren't securing income, neither are we.

  • How are rent payments dispersed to owners?

    Rent payments are dispursed at the end of each month, deposited directly into your account. 

  • What if I want to sell my rental property or purchase more?

    We have a team of agents with vast knowledge of the rental market ready to help, or we will happily work alongside your preferred real estate agent.

  • How do you screen potential tenants?

    All applicants go through an intricate screening process which includes a credit and criminal background check, income & employment verification, and previous landlord reference check.

  • Is there a discount for multiple properties?

    Yes, our fee structure is portfolio size-based.

  • Am I able to review any repairs before work is completed?

    Any repairs over $500 require your permission. Below that, we ask that you trust our judgement in getting necessary repairs completed to maintain a safe and healthy home. 

  • Do you up charge on maintenance?

    No, what the contractor charges is what we charge you. 

  • How many units do you manage?

    2,300 units.

  • How long have you been in business?

    Since 2003.

  • Occupancy rate?

    92%

  • How do you determine the rental rate?

    By analyzing comparable rentals in the area, considering unique features of your property.

  • Do you have any off market deals?

    Most properties are sold amongst clients within our network without ever hitting the market.

  • How do you vet your contractors?

    Our contractors go through criminal background screening, sign our subcontractor agreement, and must carry liability insurance. 

  • Do my properties have to be inspected by the city?

    Most of the areas we service require rental properties to be registered and inspected by the city. Don't worry, Lighthouse will handle this for you!

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