Frequently Asked Questions

Company

What areas do you serve?

We serve Southwest Florida, the Greater Tampa and Greater Orlando areas as well as Jacksonville. Find more detail here.

Where are your offices 
located?

Great question, we have four property management offices — one in Ft. Myers, one in Tampa, one in Orlando and one in Jacksonville. Each office has a deeply experienced team made up of industry veterans (from some of the top performing publicly traded single-family real estate investment trusts). Your local Great Jones office will also have local property managers and maintenance coordinators on-site so they’re able to respond quickly and efficiently to anything that arises at your property. We also have an office in NYC where our technology is developed.

Fort Myers: 1500 Jackson Street, Suite 300, Fort Myers FL 33901
Tampa: 442 W Kennedy Boulevard, Suite 280, Tampa FL 33606
Orlando: 7575 Dr Phillips Boulevard, Suite 225, Orlando, FL 32819
Jacksonville: 25 N Market Street, Jacksonville, FL 32202
New York: 135 Bowery, Floor 2, New York, NY 10002

How many properties do you manage?

We work with a couple of hundred owners today. We’re staffed such that all of our owners have a single, dedicated, local point of contact on the ground who is available to them always. He or she manages a team of maintenance, leasing and service coordinators to make sure your property gets all the care it needs.

Our team is made up of industry veterans who have managed over 10,000 single-family and lower-scale multifamily homes in their previous roles, so we have unique experience managing properties at scale.

Is Great Jones licensed? Insured?

Yes, Great Jones is a licensed real estate brokerage in every state in which we operate. We only employ licensed property managers, many of whom are broker associates.

We are insured extensively. All of our vendors and anyone who steps foot on a property we manage is fully licensed and insured, too.

What makes Great Jones different?
  1. We are a team of highly experienced, deeply local property managers. Our team has managed thousands of homes over the past 10 years, while managing each home like it’s right next door (and it often is).

  2. Owner-alignment is in our DNA. We only earn money when you do; our contracts require no lock-in; and we guarantee NO markups or hidden fees, ever.

  3. We make owning property delightful. Our team prides itself on responsiveness; our Owner Portal gives you 24/7 visibility into your portfolio’s performance, from anywhere.

Who will I be working with?

Once you sign on with Great Jones, you’ll meet with the Regional Leader of your local Great Jones office one-on-one so that they can fully understand your properties’ needs and your investment goals. They’ll be your primary point of contact and will manage a team of service managers and coordinators to make sure your property performs as expected.

Pricing & Terms

What are your fees?

One thing that really sets us apart is that we only ever charge two fees. We have absolutely no hidden fees.

  1. Our management fee is 8% of monthly rent (10% if you own only one property). And we cap this fee at $149/month per unit, no matter the rent.
  2. We charge a placement fee of 75% of one month’s rent when we fill a vacancy.
How much am I paying my current PM?

Unfortunately, it’s become a common practice for property managers to charge a “low” monthly management fee while sneaking in all sorts of hidden fees that add up to a monthly fee of over 15% of your monthly rent! Markups on maintenance and repair costs, as well as lease renewal fees, are the most common ways property managers drive up your costs.

We’d be happy to review your most recent property management invoice with you to identify hidden costs and areas where we’d be able to save you money. Email us here to schedule an invoice audit.

How long am I locked into your contract for?

We never lock you in to a contract. You can cancel anytime with no penalty. We just request 30 days notice so that we may properly transition operations. We’ve structured our agreement this way so that it’s our responsibility to earn your business each and every month.

How does the 90-guarantee work?

If you’re not happy with our service, you can cancel your contract with us within the first 90 days and receive a full refund on the monthly management fees you paid to us up until that date. No strings attached.

Our Services

Which property management services do you provide?

We focus exclusively on 100% full service management of annual rentals, so you can sit back and relax while collecting your earnings and achieving your real estate investment goals. Our services include: property marketing, resident placement, property inspections, monthly and annual financial reporting, rent collection, evictions, maintenance and legal compliance. See more here.

How quickly will you respond to me and my residents?

We communicate with our owners and residents same-day. We try to always answer the phone and if we can’t, we return calls or emails same day.

Do you manage short-term rentals?

We manage annual rentals exclusively. If you’re considering whether you want to rent out your property on a short-term vs. long-term basis, we’d be happy to walk you through the pros and cons of each option to help you make the best decision for your financial goals. Reach out to a portfolio advisor here to discuss.

I’m interested in growing my portfolio. Can you guys help me with that?

We can assist you with growing in three ways:

  1. By introducing you to savvy local agents and helping to vet proposed purchases against rent and expense assumptions.

  2. Introducing you to our hand-selected local builder partners with new build-to-rent construction opportunities

  3. Work with your existing real estate agent to validate rent and expense estimates for proposed purchases

Working with your trusted property manager prior to purchasing is a crucial step to avoiding surprises and achieving intended investment outcomes.

How do you resolve emergency resident issues?

We have a 24/7 emergency response number for our owners and their residents. If your resident reports a flood in the middle of the night, our team will handle the situation, involve the right vendors, and get you up to date when the sun rises.

Maintenance & Upkeep

How does maintenance work?

We think about maintenance in two ways: proactive maintenance and unexpected maintenance.

  1. Proactive maintenance lets us identify and resolve small issues before they become bigger ones. Proactive maintenance is important because it can be 10% of the cost of an emergency repair.

  2. For the unexpected maintenance issues that are harder to plan for, it’s our job to take that call and respond to those requests in a timely manner — immediately if it’s an emergency.

We work with a pre-vetted network of local, licensed, vendors whose work quality we guarantee. We’ve pre-negotiated discounted rates with them for all basic repairs and on all big ticket items (like HVAC, for example). We review all maintenance work to ensure your residents are satisfied. In fact, we ask your residents to rate the vendors we use to ensure they’re as great as we believe they are!

Who are your vendors?

We’ve built a network of local vendors we have worked with for years and trust with our own homes and our owners’. They’re deeply vetted with decades of experience. We are constantly evaluating and adding new vendors to this network to ensure we deliver the highest quality, value, and responsiveness possible — all the savings of which are passed straight to you with zero markups.

Are all your vendors licensed?

We work exclusively with licensed and insured vendors. We’ve built a network of top-rated local vendors all of whom we’ve personally vetted. In fact, we guarantee their work — if a maintenance job is mishandled, we cover the costs to repair.

Are you going to be able to save me money on maintenance?

Our team has so much experience operating in the area that we’ve built up a network of licensed, top-rated vendors with whom we’ve pre-negotiated discounts on both their products and services. We never, ever mark up costs on top of what a vendor charges you so those savings are passed directly on to you. Our owners have found huge savings on big ticket items like HVAC replacements and roofing using the discounts we provide — one really common example for us is being able to get our owners a two-ton AC for 50% off retail. Our scale and reputation yields us the best quality at the best rates.

How will my resident resolve maintenance issues with you?

We use a work-order system which lets your resident communicate maintenance issues to us as soon as they happen, 24/7 — either via phone or on their computer or smart device, all of which we track in one place to give them and us visibility into what’s going on. Once the maintenance issue is submitted, our local service manager finds the best vendor in our network to resolve it. The work-order system keeps your resident updated on progress so they know that help is on the way and when they should expect to have the issue resolved.

We take responsiveness really seriously and so we provide your resident with tools they can use to rate our ability to solve the repair. This way, we can confirm work is being done on time and at the quality we expect. Today our overall resident rating for repairs is a 4.7 out of 5.

How often do inspections happen?

We conduct in-person inspections on-site at our owners’ properties at least every 4 months. We conduct an inspection upon move-in and post-move-in; another one at a 4-month check-in; and a third inspection at the 8-9 month mark. We don't charge for inspections, so we're not using these proactive inspections to serve our own interests; they're truly for our owners’ benefit.

Placement & Renewals

Do you handle resident placement?

We do. We know having a quality, respectful resident in your property is so important. It’s our job to make sure you have great residents in place, always — residents who are respectful people you’d be glad to host in your home. We are a full-service property management company, so our services include resident placement, property marketing, and resident issue resolution (amongst others).

Do you offer placement-only services?

The short answer to that question is “No, we do not” so that we can focus fully on full-service management for our owners and their residents. As a side note, in most cases when someone is asking about that option, they usually assume it’s the easiest way to save money on property management costs. From what we’ve seen with our customers, it’s usually a better option to employ a full-service property manager.

How do you market my property?

Hustling to market your property efficiently and identifying the right residents will pay huge dividends on your annual bottom line. And since we only get paid if you do, we’re incentivized to make you as much money as we can. Over 50% of our homes are leased prior to them becoming vacant.

We publish your available property on over 52 listing sites and use yard signage where permissible.

What types of property do you manage?

We exclusively manage residential properties ranging from single family homes, townhomes and condos to apartment buildings where onsite management is not economically beneficial (typically under 100 units).

How do you vet residents?

We conduct one of the most thorough background screens in the business. We use a third party company to run checks for sex offender status, terrorism, felony and misdemeanor criminal history, a multi-bureau credit check, evictions, and prior landlord debt. We also check municipalities that don’t use electronic records -- we pay for the manual verification (at no extra cost to you) where most companies skip over these .

In addition to background screening, we spend the time to call their references, pursue any open questions, and work with you to help make well-informed placement decisions, based on our experience about the things that truly matter most in predicting future resident behavior.

What is your lease renewal fee?

$0. We never charge you to renew a lease. We only ever charge two fees — your monthly management fee and your new resident placement fee. Everything else is included at no additional cost.

It’s important to note that when we renew a lease, you get a new, up-to-date lease with the benefits of all lease updates since your last lease execution. Many companies renew with a one-page renewal letter.

How do you determine market rent rate?

What your property will rent for is dependant on a number of factors including neighborhood, size of the home, condition of the home, finishes in the home as well as what else is available on market at the same time. We run comparative report based on actual rented homes that closely match the location, condition and details of your home. We compare your home to other homes on the market and do an exercise to understand how your home ranks among them.

The most important things to know about this exercise are:

  • We use real data to make this decision so it’s as objective as possible with the goal of helping you maximize income and ultimately profitability

  • We provide you options based on your financial goals.
    For example:
    1 — an aggressive go-to-market rate
    2 — steady-state rate which is generally the market average
    3 — a “must-fill” rate which includes a slight discount to market if your top priority is immediate cash flow.

  • We provide the data but you make the final call

What does self-showing mean and how does it work?

One of the ways we’re able to fill vacancies quicker than most is by using self-showing technology, which is the same tool all of the largest REITs (Real Estate Investment Trust) in the Country use. Self-showing is a proven method for renting your property safer and faster. Here’s how it works:

  • We conduct on-the-spot background checks for interested residents and require a valid credit card for them to qualify, which ensure only highest quality residents engage with your property

  • We’re able to offer prospective residents on-demand access to your property 7am-9pm, 7 days a week. We generate a unique key for each new individual that enters the property, and that key works for only the allotted time of their visit.

  • The technology syndicates your listing to 50+ qualified listing sites (in addition to on-site signage)

  • And… it delivers you a weekly progress report on resident inquiries, showings and applications so you’re kept 100% in the know. And the weekly feedback you receive from showings is really very valuable — we’ve found it can uncover reasons people are declining to rent your home, which gives us the chance to resolve them so you can rent your property faster and without reducing rent.

How long does an average resident stay?

Our typical lease term is 12 months and our residents tend to stay, on average, 30 months.

Do you deal with evictions?

Yes. We know evictions can be scary, time consuming, expensive and destructive among other things. The key to avoiding eviction lies in solid resident vetting. That being said, sometimes a resident can be placed, and life will still happen: illness, job loss or abrupt changes in family status can cause even previously stable residents to falter.

You should know that eviction is an incredibly rare outcome for our placed residents. While the odds are that you’ll never have to experience an eviction as a landlord with Great Jones, should the need arise, we’ll handle everything on your behalf (whether we placed the resident or not) through an experienced team of local attorneys.

Rent & Expenses

When do I receive my rent?

Good question. Some property management companies have what’s called a “holdover”. They wait some preset amount of time before paying you the rents collected from your residents. We do not do that. We pay you the rents the same month we receive them.

Even more specifically, we pay out rents twice a month so you get your money faster:

  • We pay by the 10th of the month (for rents received on the 1st-9th) - you receive by the 15th
  • We pay again on the 25th (for rents received after the 9th) - you receive by the 30th

(Our rents are actually always due on the first, but in the event we inherit a resident who has other lease terms, or in the event a resident is late on payment, we want to be able to deliver those payments to you same month, which is why we have the payout on the 25th as well).

How do you communicate expenses to owners?

We don’t spend money without your approval. When you sign on as a customer of ours, we agree to a $350 spending threshold to cover simple repairs on your property without delay for approval. For any costs exceeding $350, we draft a repair quote for your review and approval before executing.

When and where can Great Jones owners view their finances?

Monthly statements are made available to our owners via email and in their Owner Dashboard, which they can access 24/7 from anywhere (computer, tablet, phone). We also provide an end of year tax summary to help with tax preparation.

Starting With Great Jones

What happens once we start working together?

Each owner has unique goals, and we want to understand and help execute these goals on a per-property basis. As soon as you begin your partnership with Great Jones, your local Regional Leader will get in touch with you and our team will begin onboarding your properties and residents into our system. We do most of the heavy lifting here, only asking you for information we can’t get elsewhere.

We’ll also setup your payment preferences and your Owner Dashboard. We then can walk you through various details such as how to access your property information, as well as key features of your owner dashboard.

In the event that an owner is switching over from another property management company, we gladly facilitate the transition. All we need an owner to do is notify their property manager to expect our call – we handle the rest quickly and professionally.

How do I transition my properties from our current PM to you?

In the event that an owner is switching over from another property management company, we gladly facilitate the transition. All we need an owner to do is notify their property manager to expect our call – we handle the rest. We contact them to arrange pick up of leases, ledgers, keys, deposits, inspections, etc. If your property is occupied, we also contact your resident to onboard them which includes: setting them up with our portal, setting up their payments, confirming their lease terms and setting expectations on how to be a great resident while receiving great service.

Does Great Jones take over management for my property if it’s occupied?

Yes, we do this all the time. It’s included in our services. It’s a simple 3-step process:

  • First, we transition your property from your previous property manager if you have one. We contact your property manager to arrange a seamless transition.

  • Next, we contact your resident to onboard them which includes: setting them up with our dashboard, setting up their payments, confirming their lease terms and setting expectations on how to be a great resident while receiving great service.

  • Lastly, we conduct what we call an “occupied home inspection” to identify security, safety or functionality issues. If any issues are identified, we propose and facilitate cost-effective resolutions.