FOR TENANTS
What Do I Need Before Moving Into My Melrose Property?
Once you have signed your lease, you will need to submit your utility account numbers to the office to ensure that there will not be a lapse in coverage. Once verified, you will set up a date with the Leasing Coordinator to come to the office to pick up your keys and pay your first month’s rent (money order or personal check). When you receive your keys, you will be given your Walk-Thru forms that must be completed and returned to the office within 7 days. If it is not turned back in, you are liable to be charged for damage that may have previously occurred. You are welcome to take pictures of your home and submit them along with your Walk-Thru form. Pictures must be submitted on a flash drive or stick. (These are kept with your file and not returned).
What Is Considered An Emergency Repair?
An after-hours emergency call should be made anytime the structure of the property is jeopardized or there is a danger to the occupant. Such circumstances include fire, an active water leak or flooding that is not controlled by cutting off the supply valves, loss of heat when temperatures are below 50 degrees, no electricity (not area related), damaged roof or structure damage from a fallen tree.
Who Do I Contact For A Repair?
The quickest and easiest way to submit a work order is to log in to your tenant portal. You are welcome to email the maintenance department at jennifer@melroserealtyllc.com. You are also welcome to follow up with a phone call to our office at 405-434-5373.
I’m Going On Vacation, Is There Anything I Need To Do Before I Leave The House?
If you are going to be gone for a period longer than 14 consecutive days, you will need to notify Melrose Realty, LLC. This is so there is no confusion between you being on vacation and possible abandonment of the property. Please leave your thermostat (Heat/AC) as you normally would during the particular season. If a pipe freezes due to the heat not being on in the home, then the tenant is held responsible for any damages. It is equally important during any season to make sure all exterior drains are free and clear of debris to allow rain water to be correctly redirected.
Can I Sign Up For Direct Withdrawal Of Rent Payments?
Yes, using your tenant portal you can sign up for a one-time payment as well as set up your account for recurring payments to come from your bank account. All the information you need is in your tenant portal. Please be mindful of the fee for using credit cards. Routing and account numbers are always free of charge when rent is paid through the tenant portal.
What Do I Need To Do Before I Move Out?
If you plan on moving out, please contact the leasing coordinator so that we can instruct you on your next steps.
How Do I Get My Security Deposit Back?
Security deposits are placed in escrow for your account. Per your lease, you must request in writing to recollect your deposit. We have 30 days after your lease termination date to have your deposit in the mail. You can expect to get a full return of the deposit if your account is not in arrears, no damages are assessed by the maintenance department walk-thru, and all final utility bills have been paid.
Can I Have Pets At The House?
Any pet that will be residing at the home must have owner’s approval and needs to be included with your application/leasing process. If you plan to obtain a pet after moving into the property, you need to notify the Leasing Coordinator prior to obtaining pet. They will create an addendum, which must be signed and returned prior to the pet residing at the property. You will also be required to submit a one-time nonrefundable pet deposit with a monthly pet fee.
Can I Smoke At The House?
All of our properties are non-smoking, which is specified in the lease. You, or any guests at the house, Do Not have the right to smoke in, on, or around your home. If there is smoking, legal action is possible along with cancellation of the lease.
How Do I Prepare The House For Winter?
A few weeks before winter starts, you should turn on your heat to ensure that it is functioning properly. The water to the exterior hose bibs needs to be shut off, disconnecting any hoses and leaving the hose bibs open. Also, close any storm windows and replace front screens with glass if applicable.
What Happens If I Pay Rent Late?
Rent Payments are due on the 1st of the month. If payment is not in our OFFICE by 5pm on the 3rd of the month, a late fee of 10% of the monthly rent will be incurred. If payment is not received by the 5th, we will send a "5-day Pay or Quit Notice" (Additional fees will be assessed). Further legal actions will continue until full payment is made. We are able to work with you more when you communicate with us on when you can pay the rent and what your situation entails. If you know that your rent is going to be late, please contact us. The more information we have, the better we can assist you in fulfilling your lease obligation to Melrose Realty, LLC.
FOR LANDLORDS
How Do Property Taxes Work?
Property taxes are what most homeowners in the United States pay for the privilege of owning a piece of real estate, on average 1.5 percent of the property’s current market value. These annual local assessments by county or local authorities help pay for public services and are calculated using a variety of formulas.
Are Property Taxes Deductible?
Property taxes on all real estate, including those levied by state and local governments and school districts are usually fully deductible against current income taxes. Check with your tax professional.
Where Can I Learn More About Appealing My Property Taxes?
Contact your local tax assessor’s office to see what procedures to follow to appeal your property tax assessment. You may be able to appeal your assessment informally. Mostly likely, however, you will have to go through a formal tax-appeal process, which begins with an appeal filed with the appropriate assessment appeals board.
Are Taxes On second Hand Homes Deductible?
Interest and property taxes may be deductible on a second home if you itemize. Check with your accountant or tax adviser for specifics
What Is An Impound Account?
An impound account is a trust account established by the lender to hold money to pay for real estate taxes, and mortgage and homeowners insurance premiums as they are received each month.
How Is A Home's Value Determined?
An appraisal is a professional estimate of a property's market value, based on recent sales of comparable properties, location, square footage and construction quality. This services varies in cost depending on the price of the home.