1. Why should I choose Mike Segal Properties?
2. Should I sell or rent my property?
3. How will you advertise my property and who pays for advertising?
4. How long will it take to rent my property?
5. What is the screening process for tenant applicants?
6. Will I lose control of my property?
7. Who does the repairs on my property and is there a surcharge involved?
8. What happens if a tenant doesn't pay rent on time?
9. When will I receive my monthly statement and check?
10. Will I need to change my insurance coverage?

Why should I choose Mike Segal Properties?

With MSP, you get a team...Mike Segal is your broker and main property manager, Sheila coordinates repairs and maintenance for your property, and Marilyn handles your record keeping and accounting tasks. Dan, our handyman, is "on call" for your property's needs. Daily morning meetings help us to communicate, coordinate and prioritize our activities. We all know you and your property. With Mike Segal Properties, you get the knowledge and expertise that comes with 20-plus years in the property management industry.

Should I sell or rent my property?

Mike Segal has the expertise and experience to help you decide between selling or renting in our ever-changing real estate market. Our company not only manages properties throughout the Santa Clara Valley but also has sold hundreds of properties. We can prepare an Estimated Seller's Proceeds or a Rental Income/Expense sheet to help you visualize your options. We offer discount programs for Buyers and Sellers of real estate, and are happy to coordinate loans for you as needed

How will you advertise my property? Who pays for advertising?

If you have a current or pending vacancy, we begin to market your property. We advertise through the following sources:

1. San Jose Mercury News. (Our contract with them is a cost savings to you.)
2. Our Website, with digital photos and pertinent details.
3. Craig's List, www.craiglist.com, a free, online listing service.
4. University Housing -- For vicinities near San Jose State & the University of Santa Clara.
5. North or South County local newspapers.
6. Our 24-hour rental hotline.
7. On-site property signs.

How long will it take to rent my property?

How long it takes to rent your property depends on the market and how well your property is priced in relation to that market. Size, location, property condition, the asking price relative to that of comparable properties and the time of year are all factors that come into play. In general, you can expect to have tenants within a 30 to 60-day time period.

What is the screening process for tenant applicants?

Our staff processes all applications on a first-come, first-served basis. We require a completed application from each potential tenant 18 years of age or older. We contact current and previous landlords for references, obtain credit reports, check for evictions and verify employment. Placing qualified tenants in your property is extremely important for the health of your property, and we make that a priority!

Will I lose control of my property?

We "tailor make" our account to suit your needs. Each Owner is unique and has his or her own needs. We respect that and set up the account accordingly. We have Owners that live out of the country, out of the state, and, just the opposite, right next door! Some Owners like to be more involved than others, some like to visit the property once or twice a year, and some don't want anything to do with it. Whatever your needs are, we can usually accommodate them.

Who does the repairs on my property, and is there a surcharge involved?

We have a full-time handyman on staff for general repairs. For more complex repairs or property renovations, we have a pool of well-qualified, reasonable vendors from the following service areas: general contracting, roofing, plumbing, electrical, appliance repair, painting, floor & window covering, landscaping, pest control, tree care and cleaning/maintenance. For general maintenance issues, we do not charge more for the work performed than we are charged. For larger, more involved projects, we discuss the extent of the project and negotiate a price with you for the project.

Anyone doing maintenance on your property is selectively screened. Our vendors are people we trust in our own homes.

What happens if a tenant doesn't pay rent on time?

If rent is not in our office by 6 PM on the 5th of the month, we call the tenant on the 6th and a follow up letter is sent the same day. If this action does not provide the desired response, we serve the tenant a 3-Day Notice to Pay or Quit. If rent is still not paid, we inform the Owner and initiate legal action.

When will I receive my monthly statement and check?

Rent is due on the 1st of the month; there is a grace period for payment until the 5th of the month. We mail checks out to you on the 10th of the month along with a detailed statement of income and expenses. You have the option of electronic funds transfer (EFT) directly to your bank account. An EFT can take 2-3 business days to process.

Will I need to change my insurance coverage?

If you have been living in your property and will be converting it to rental, you need to consult your insurance agent to provide you with the appropriate coverage for a tenant occupied property. We require current proof of insurance, and we require that Mike Segal Properties be named as "additional insured" on your policy.