Owner FAQs

All applications are screened with a full background check, credit history report as well as manual Income Verification & Rental History Verification. 

Owners choose their level of criteria that is advertised and enforced through the leasing process. 

Criteria options are listed below, however, custom criteria may be used per Owner preference.

Rental Criteria Options

• Standard: 2.5x rent gross income, 650+ credit score (Recommended)
• Strict: 3x rent gross income & 650+ credit score
• Lenient: 2x rent gross income & 650+ credit score

View more details our Screening Detail Page.

There are many variables to consider when estimating days on market including:

• Property condition
• List price
• Pet policy
• Screening criteria

Sagareus objective is to lease all units in 30 days or less.

We can provide a detailed estimate with current leasing data by location & property type with PM Proposal.

Standard Resident Maintenance Requests are submitted online via the Resident Portal or via e-mail to mgmt@sagareus.com.  Standard requests are received and processed within 24 hours for response or dispatch. 

Maintenance Emergencies are addressed immediately with our Emergency Maintenance Line. 

Each property is assigned preferred vendors based on owner preference (if available), then by Sagareus preferred vendor list. 

Sagareus operates within the confines of the Authorization amount; Should a repair exceed this amount, Owner will be notified and presented with options and recommendations. 

See Maintenance Detail Page

Standard maintenance items are non-emergency issues, such as:

• Small leaks, running toilets, or dripping shower / tub faucets
• Drain Clogs
• Broken interior door knobs, locks, or hinges
• Broken or malfunctioning microwave, dishwasher, or washer/dryer

A Maintenance Emergency includes:

• Anything that may be a fire hazard, such as broken heater, stove or oven, or exposed wires.
• Anything related to security or your ability to exit, such as broken locks or windows
• Anything related to your ability to cook or store food, such as broken refrigerator or stove top.
• Anything that may be a flood issue, such as a major leak.
• A broken water heater

Property Owners choose their own pet policy. 

Sagareus recommends our standard pet policy:

Up to 2 pets, 30lb weight limit; $50 / mo pet rent

Yes, Owners have access to all of their property documents and financials 24/7/365 via Owner Portal established at Onboarding.

Current clients can log in to Owner Portal Here.

No, Sagareus Property Management Agreements are written at will.  Owners may terminate Agreement at anytime without penalty. 

Offboarding property takes 48 business hours. 

Sagareus DOES NOT put water / sewer bills in tenant names.  Instead, Sagareus receives all bills and then "bills back" the tenants by adding the utility charge to the resident ledger:

1. Sagareus receives the utility bill
2. Sagareus pays the utility bill out of owner operating account
3. Sagareus adds the exact amount to the tenant's ledger to post during upcoming rent cycle
4. Tenant pays entire ledger amount
5. Sagareus accounts for utility income as "Utility Recovery" 

Sagareus does this for 4 reasons:

1. Reduces Utility expense by collecting 100% of utility costs from the tenant(s)
2. Allows management to watch for high usage, which indicates a leak or extra people living in the property
3. Allows management to ensure utility bill is being paid regularly
4. Reduces admin work of changing account between leases

Owner distributions are sent monthly via EFT along with Monthly Reports. 

See our Accounting Detail Page for full discussion.

Yes, Management Firms work together often to transfer portfolios and services seamlessly. 

We can assist you make the transition at anytime.

The Authorization amount is the dollar amount Rental Owner agrees to allow Sagareus to spend to arrange all maintenance, repairs, and replacements necessary to maintain the property.

Our standard Authorization Amount is $1,000 with a minimum of $500. 

The property reserve is the amount withheld from the owner's monthly draw to maintain a baseline balance in the owner's operating account.

This reserve ensures funds are available for necessary payments between the owner draw and the next rent cycle. 

The reserve amount is determined by the Authorization Amount specified in your Property Management Agreement.

Occasionally admin fees are collected by management from tenants. Most often these are credit card surcharge fees that the tenant pays when using a credit card to make rent payment.

Since the tenants payment is paid directly into owners account management needs to expense these fees out of the owner's operating.

Owners will see these admin fees expenses on the bank reconciliation but, since they are management account, they will not be reflected on or impact the other owner reports. 

 

 

The property reserve is the amount withheld from the owner's monthly draw to maintain a baseline balance in the owner's operating account.

This reserve ensures funds are available for necessary payments between the owner draw and the next rent cycle. 

The reserve amount is determined by the Authorization Amount specified in your Property Management Agreement.

Monthly Owner Reports and Owner Distribution are sent within minutes of one another. 

Electronic Funds Transfer can take up to 3 business days to deposit to your account.