Revid
Property Management FAQ
General Questions
How do I get started with Revid Property Management?
Getting started is simple! Contact us via phone or email, and our team will guide you through the onboarding process. We will review your property, discuss management options, and set up your account in our system.
Do you offer a la carte services?
Yes! Revid Property Management is structured into four specialized companies tailored to suit all investor needs. We offer a range of services, from cleaning and preparing a property for rental to handling rent collections, leasing services, and full-scale property management—along with nearly everything in between. Our flexible, a la carte options allow you to customize the level of service you require while still benefiting from our expertise and resources.
What makes Revid Property Management different from other property management companies?
Revid Inc. is your one-stop shop for real estate investors. We are comprised of four specialized divisions that cater to all aspects of property investment and management: Revid Property Management LLC, Revid Renovation and Repair LLC, Revid Design LLC, and Revid Investments LLC. Our experienced team guides you through every stage of the investment journey, from property acquisition to leasing and ongoing management, ensuring your goals remain our priority.
How can I raise my rent?
Each rental situation is unique, depending on both the property’s condition and the investor’s specific goals. While maintaining a clean, modern, and well-kept property can enhance its appeal, there are many factors to consider when adjusting rent. Market trends, tenant demand, and strategic upgrades—such as updated fixtures or energy-efficient appliances—can all play a role. However, setting rent too high could lead to extended vacancies, potentially negating financial gains. The best approach often involves a careful balance of market research and understanding what attracts quality tenants. Curious about how to maximize your rental income? Let’s discuss the options that best fit your needs.
What services does Revid Property Management LLC provide?
Revid Property Management LLC is part of Revid Inc., a one-stop shop for real estate investors. We offer a full spectrum of services through our four specialized divisions: Revid Property Management LLC, Revid Renovation and Repair LLC, Revid Design LLC, and Revid Investments LLC.
Our property management services include tenant screening, leasing, maintenance coordination, rent collection, and financial reporting. Whether you need full-service management or select solutions, our integrated approach ensures that your investment is optimized and the challenges of property ownership are minimized.
Can you come out and tell us what we need to do to get our property ready to list for rent?
Absolutely! As specialists in rental investment properties, we offer tailored advice on updates that can enhance tenant appeal and boost rental income. Some upgrades may not be necessary or could even deter potential tenants (such as overly bold interior colors), so we help you focus on cost-effective improvements that make the biggest impact. Our team conducts walk-through inspections and provides a detailed list of recommended maintenance and upgrades to ensure your property is in top shape for the rental market.
When should we start listing a residence?
The timing for listing a rental property depends on various factors, and we tailor our approach to each owner’s unique needs. In most cases, vacant and move-in-ready properties should be marketed as soon as possible to reduce vacancy periods. Reach out to us, and we’ll work with you to develop the best marketing strategy for your property.
Leasing & Tenant Management
How do we find a tenant?
We leverage major third-party platforms such as Zillow, Trulia, Realtor.com, and Redfin to ensure maximum online visibility. In addition, we showcase available properties on our website. When a home is move-in ready, we take high-quality photos and create an engaging marketing video to highlight its best features. We also place a professionally designed “For Rent” sign in the yard to capture local interest. Our goal is to provide the widest exposure possible to attract the ideal tenant quickly and efficiently.
How do you determine the rental price for my property?
We conduct a thorough market analysis considering location, property condition, and comparable rental rates to ensure competitive and profitable pricing.
How do you screen tenants?
We perform comprehensive screening, including credit checks, background checks, employment verification, rental history, and income verification, to ensure responsible and reliable tenants. Additionally, we conduct phone or in-person interviews, Rent Bureau verifications, and review open- source records to further evaluate prospective tenants.
What happens if a tenant does not pay rent?
We enforce a strict rent collection policy and take legal action when necessary. Our team handles late fees, notices, and, if required, eviction proceedings in accordance with local laws. We utilize text, call, email, notices, and site visits to exhaust all avenues of collection before filing for eviction.
Maintenance & Repairs
Maintenance and Repair Coordination
The first step in our process is to qualify the need for repair and troubleshoot the issue to avoid a potential expense if possible. We handle all small repairs (under $500) as needed. If the repair exceeds $500, we will notify you and request your permission to proceed. You will receive a written quote detailing the work to be completed along with itemized charges. Once the work order is completed, you will see the invoice with the next round of financial reporting and receive a report for the closed work order. Revid Property Management is just one part of Revid Inc., a one-stop shop for real estate investors.
Our four divisions—Revid Property Management LLC, Revid Renovation and Repair LLC, Revid Design LLC, and Revid Investments LLC—work together to provide seamless property management, renovation, and investment services. Whether you need minor repairs or full-scale renovations, our integrated approach ensures that your property remains well-maintained and profitable.
Are tenants ever responsible for repair costs?
Tenants may be responsible for repair costs in certain situations, such as damage caused by negligence, misuse, or failure to report an issue in a timely manner. Additionally, tenants may be charged for service calls that are determined to be unnecessary or for maintenance issues that are their responsibility under the lease agreement, such as replacing light bulbs or air filters. If a tenant is responsible for a repair, the cost will be added to their account, and they will be required to reimburse the expense.
Who handles maintenance and repairs?
We coordinate all maintenance and repair requests through Revid Renovation and Repair LLC, our dedicated division specializing in property maintenance and renovations. Our in-house team of maintenance technicians handles 95% of necessary repairs at investor-friendly hourly rates. Owners are notified of major repairs, and we ensure that all work is done efficiently and cost-effectively.
How are maintenance costs handled?
Routine maintenance and minor repairs are deducted from rental income. For major repairs estimated above a set threshold, we seek owner approval before proceeding.
Financials & Owner Payments
How and when do I receive rental income?
Owner disbursements are processed monthly, typically within the first 5 days of the following month, via direct deposit. Statements and reports are available in the Owner’s Portal.
What fees does Revid Property Management charge?
Our fees include a management fee, leasing fee, and potential additional costs for specific services. You can find a breakdown of our various services and pricing by clicking “here.” Portfolios over 15 units are subject to their needs and may require a special pricing structure, so please contact us to further the discussion.
Communication & Owner Support
How can I access information about my property?
Owners have 24/7 access to our Owner’s Portal, where they can view financial reports, lease agreements, maintenance requests, and tenant details.
Who do I contact for support?
We are open Monday through Friday from 9:00 AM to 4:00 PM. We have a dedicated phone line for our clients at 901-725-7766 x 3 as well as a dedicated client intake email at client@revidrealty.com. You will never be pawned off to a call center—our team consists of local professionals in the greater Memphis area who are familiar with your portfolio and ready to assist you.