Frequently Asked Questions for Rental Property Owners
Providence Property Management provides full-service annual rental management in Manatee, Sarasota, DeSoto, Charlotte, and Lee counties in Southwest Florida.
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Pricing and Plans
For full plan details and a side-by-side comparison, see our pricing page.
Which management plan do you recommend?
We recommend Full Service Plus for most owners. Monthly cash flow on a rental is usually modest, and a single resident who causes serious damage or has to be evicted can erase years of profit. Full Service Plus adds up to $35,000 in malicious damage coverage, $15,000 in theft and contents coverage, and $2,000 in animal damage coverage on top of the Full Service guarantees.
Why would I choose the 6.9% plan when a 4.9% plan is available?
The 6.9% Full Service plan includes insurance-backed guarantees for lost rent and eviction expenses; the 4.9% Limited Service plan does not. Limited Service also charges separately for inspections ($79 each), photography ($79), and eviction coordination ($199). On a home renting for $2,000, the difference between the plans is $40 a month. The lower fee only saves money if nothing goes wrong, and a single turnover or problem residency usually costs more than a year of that difference.
Why do you charge a percentage plus a flat fee instead of one number?
The hybrid structure keeps our interests aligned with yours and keeps pricing fair across different rent levels. A flat monthly fee pays a manager the same whether your property performs well or not. A straight percentage is better aligned but unfair across property types: a $3,000-per-month home pays three times as much as a $1,000-per-month home, even though the lower-rent home is often more work to manage. A smaller percentage plus a flat fee balances both.
Do you offer discounts?
Yes, in two ways. Owners with five or more units receive a free upgrade one plan level up, so Limited Service pricing gets Full Service, and Full Service pricing gets Full Service Plus. Otherwise, the way to pay less is to choose a lower plan with fewer included services. We don't negotiate individual rates, because every client receives the same terms.
What is your leasing fee?
Our leasing fee is 50% of one month's rent for each new lease. Many real estate agents charge a full month's rent for resident placement alone. We keep the leasing fee low because we would rather be paid well when a good resident stays than when a resident leaves.
Why is your lease renewal fee $249?
We charge more for renewals and less for new leases on purpose. A renewal means a good resident stayed, and your home avoided vacancy, make-ready costs, and leasing costs. Pairing a $249 renewal fee with a half-month leasing fee means we earn more when things go well for you, not when a resident moves out.
Why do I lose the leasing fee discount if I cancel in the first year?
The half-month leasing fee is priced for owners who continue with full management. If you cancel before the resident we placed has completed one year, you pay the remaining half of a full month's rent. This prevents full-service management from being used as a discounted resident-placement service. Once the resident has stayed one year, there is no adjustment and no cancellation fee.
Why do I pay the $59 monthly fee while my property is vacant?
The flat fee covers the ongoing administration of your account, and it continues during vacancies. Our average time to rent is under 30 days, so the amount involved is small and we don't prorate it.
Why do you require $1 million in liability coverage, and what is the $29 fee?
We require $1 million in liability coverage because many standard landlord policies carry limits of $300,000 or $500,000, and a serious injury lawsuit can exceed those amounts. A rental rarely earns enough to absorb that risk. For $29 per unit per month, we provide the coverage ourselves, so you don't have to shop for a policy or send us proof of coverage every year.
Can you raise your fees after I become a client?
Our management agreement allows us to update terms with notice so that every client stays on the same agreement. So far we have only used that clause to lower prices. Any fee increase takes effect 60 days after notice, and you may cancel within 30 days of the notice with no cancellation fee. The agreement is month-to-month, so you are never locked into a change you don't accept.
Who keeps the late fees?
We do. Late fees compensate for the extra work a late payment creates, including trips to the property to serve notices, follow-up with the resident, and eviction filings when necessary. The same terms apply to every client.
Rent and Eviction Guarantees
What does the Providence guarantee cover?
Full Service and Full Service Plus include an insurance policy that Providence Property Management carries on every property we manage. If a resident breaks the lease early or is evicted, it covers up to two months of lost rent (up to $3,000 per month) and 100% of eviction expenses. Eviction expenses include attorney fees (typically up to about $1,500), lock changes, service of legal documents, and some trash-out costs. Full Service Plus adds up to $52,000 in combined coverage for malicious damage, theft and contents, and animal damage.
How does the two months of lost rent coverage work?
The guarantee pays up to two months of rent that the resident still owed under the lease, up to $3,000 per month. If the lease had less than two months remaining, the claim is limited to the months that remained. Those months must pass before the claim is paid, and if the home is re-rented sooner, the claim covers only the vacant period.
Do I pay anything out of pocket for an eviction?
Yes, temporarily. Eviction costs are paid up front from your property reserve, and your reserve is reimbursed when the insurance claim pays.
Does the guarantee apply to a resident who is already living in my home?
Yes, after 90 days. The insurance requires 90 days of on-time rent payments before it covers a resident we did not place. Residents we place are covered from the start of their lease.
Does the guarantee cover every property?
The lost rent guarantee covers properties renting for $1,000 or more per month. Homes renting for more than $3,000 per month are still covered, but only up to $3,000 per month in lost rent. Properties renting under $1,000 per month still benefit from Full Service and Full Service Plus, which include more inspections than Limited Service, and the rent coverage applies once the rent reaches $1,000.
Security Deposits and Pets
Who holds the security deposit?
We do, in every case. Florida has strict rules for holding security deposits, and we can only make a claim against a deposit on your behalf if we hold it.
How much security deposit do you collect?
We collect a security deposit equal to one and a half months' rent. A security deposit can be applied to any amount the resident owes, including unpaid rent and damage.
Do you collect last month's rent?
No. Prepaid last month's rent can only be applied to rent, while a security deposit can be applied to anything the resident owes. Residents care about the total cost to move in, not how it's labeled, so we put that money where it protects you most. For the same reason, we don't collect separate utility deposits.
What is the deposit-free move-in option?
Qualified residents can pay a monthly fee instead of a traditional deposit, and a third party guarantees the deposit amount to you. Many deposit-alternative programs cover only damage. Ours covers both damage and unpaid rent, so it protects you as well as a cash deposit. It lowers the resident's move-in cost at no expense to you, which helps your home rent faster.
Should I allow pets in my rental?
Yes. The only exception is when your HOA or condominium association prohibits pets. About 74% of renters have a pet, yet most rentals in our market are not fully pet-friendly, so most rentals compete for a small share of renters. Pet-friendly homes rent faster, command higher rent, and keep residents longer.
Do you charge a pet deposit?
We charge a monthly pet fee instead. A one-time pet deposit of a few hundred dollars rarely covers real pet damage, such as ruined carpet or chewed cabinets. A monthly fee priced to each pet's risk pays for additional inspections that catch problems early.
What if I don't want to allow pets?
You can choose a no-pet policy, but assistance animals, including service animals and emotional support animals, must still be accommodated under fair housing laws. We verify assistance animal requests as Florida law allows. A strict no-pet policy tends to shift pet owners toward assistance animal requests, and assistance animals cannot be charged pet fees.
Resident Screening and Fair Housing
How do you screen residents?
We apply one fixed set of written approval criteria to every applicant, and that policy is published on our website. Consistent criteria are a large part of our 99% eviction prevention rate and our renewal rate of over 75%. We're happy to walk you through the policy before you hire us.
Can I approve each applicant myself?
No. Every applicant is evaluated against the same fixed criteria, which protects your results and keeps screening consistent under fair housing law. You're welcome to review and discuss the approval policy with us before you hire us.
Can I see an applicant's credit and background report?
No. Our screening provider prohibits us from sharing consumer reports with anyone, including property owners. We can tell you how an applicant met our criteria.
Can you avoid renting to families with children?
No. Familial status is protected under the federal Fair Housing Act and the Florida Fair Housing Act. Refusing families with children, or using occupancy limits to do the same thing indirectly, exposes an owner to serious legal liability. We apply the same criteria to every applicant.
Working With Us
Can I communicate with my residents directly?
We ask owners to route all resident communication through us. Most owners hire a manager so they don't have to handle day-to-day communication, and it also protects you. Our team is trained in fair housing law, and an owner's well-meaning comment about a repair or a lease term can create legal exposure or weaken your ability to collect rent.
Can you manage my property differently from your other clients?
Generally, no. We run one proven system for every client, and our results come from applying it consistently. We don't take custom arrangements. Some requests fit within the system, such as adding extra inspections for $79 each or adding a qualified vendor to our list.
Who will be my main point of contact?
Once you become a client, your portfolio manager becomes your main point of contact and reaches out to introduce themselves during onboarding.
Where is your office?
Providence Property Management operates as a virtual company, and our entire team is local to Southwest Florida. Our team visits properties in person for inspections, showings, and turnovers.
Can I talk to some of your current owners?
Yes. Ask, and we'll connect you with current clients.
Can I end a resident's lease if I no longer want them in my home?
You can choose not to renew at the end of the lease term. Before you do, we'll walk you through the cost of turnover. Replacing a resident who pays on time usually costs more in vacancy, make-ready, and leasing than the issue behind the decision.
Can I sell my home while it's rented?
Yes, but occupied homes usually sell at a discount. The better approach is usually to have us not renew the lease and sell once the home is vacant. We can help with the sale, or refer you back to your own agent.
Do you sell homes?
Sales are not our primary business, but we offer them as a convenience for our management clients.
Do you manage vacation or seasonal rentals?
No, we manage annual rentals only. Seasonal rentals rarely outperform annual rentals unless the home is near a downtown, a major natural attraction, or the beach. For legitimate short-term rental properties, we refer owners to reputable companies we know.
What if I'm behind on my mortgage, property taxes, or HOA dues?
We aren't able to manage properties that are behind on these obligations. If it happens, we'll work with you to find a resolution as best we can.
How do I get started?
- Talk with us about your property, and we'll walk through the management agreement together so you know exactly how we work.
- When you're ready to move forward, complete onboarding: a short form for each property, a W-9, a voided check for direct deposit, and an ID to verify ownership. For occupied properties, we also need the current lease, the resident's contact information, and the security deposit transfer.
- We visit the property. Vacant homes get a rent-ready inspection, and occupied homes get a brief safety inspection. Anything that needs attention gets an estimate.
- Vacant homes are listed as soon as they are rent-ready.
Maintenance and Repairs
Do you mark up maintenance?
No. The bill we receive from the vendor is the bill you pay.
What is the 5–10% project management fee?
The project management fee applies only to full renovations and optional improvements, such as replacing a kitchen during a make-ready. It never applies to routine maintenance or repairs.
How are owners involved in repair decisions?
For any repair expected to cost more than $350, we involve you in the decision before work begins. Many repairs cost less than that and can be completed in one trip, and we handle those directly. If every small repair had to wait for a separate quote first, each job would take two trips instead of one. For example, a $200 toilet wax seal replacement could cost an extra $100 for a diagnostic visit, a 50% increase.
Can you use my handyman or contractor?
Yes, if they qualify. We are always looking for good vendors. Have them contact us, and if they pass our documentation and screening requirements, we'll add them to our vendor list and send them work orders. If you own a contracting or maintenance company, we can set up a maintenance agreement on the same terms.
What happens if there is a maintenance emergency in the middle of the night?
Residents can reach our emergency line at any hour, and we dispatch help right away. You don't have to worry that a leak will damage your home while someone tries to reach you. We take care of your property immediately, without needing to wake you.
Why does fast maintenance matter so much for Florida landlords?
In Florida, slow repairs can cost you rent. If a landlord fails to make required repairs, a resident who gives seven days' written notice can withhold rent, and the landlord's failure to repair can then be a defense to an eviction for nonpayment (Florida Statutes § 83.60(1)(b)). Once an eviction is filed, a resident can also ask the court to determine how much rent is actually owed (§ 83.60(2)), which can open the door to arguments about unfinished repairs. Handling maintenance promptly protects your ability to collect rent.
Who is responsible for air filters, pest control, and renters insurance?
The resident is. All three are mandatory for residents through our resident benefits package, so you don't have to manage them.
What is the resident benefits package?
The resident benefits package is a $59 monthly program paid by the resident. It covers mandatory pest control, AC filter delivery, renters insurance, and parts of our flexible rent and deposit-free move-in options, all of which protect your property and make it more marketable. We administer the program, and it is part of how we are compensated for that work.
Who handles lawn care?
You handle lawn care until the first resident moves in. After that, residents handle lawn care at single-family homes, and on multifamily properties the owner continues to pay for it while we oversee it. If you want the yard kept in top condition, we recommend including lawn service with the lease.
Who handles the pool?
We recommend keeping pool service in your own name. Pool repairs get expensive quickly if maintenance lapses. We can manage pool service if you prefer.
Who pays the utilities?
At single-family homes, residents pay all utilities, including water, sewer, electric, and gas. For delivered fuel such as propane, residents pay for their own refills.
Who pays HOA dues, property taxes, insurance, and the mortgage?
You can pay these directly, or we can pay them from your account for a small accounting fee of about $5 per payment.
Leasing and Marketing
Where do you advertise my rental?
We list every property across the major rental websites. Beyond that, we match marketing to the property: lower-priced homes may also go on Facebook Marketplace, and higher-end homes often go on the MLS so local agents can show them.
Who takes the listing photos?
We do. Photography is included in both Full Service plans and costs $79 on Limited Service. Professional photography is available for $250 and is worth it for higher-end homes. We can also use your own photos if they are professional quality.
Do you put a sign in the yard?
Yes, unless the home is in an HOA that prohibits signs. Yard signs attract strong applicants, because people like choosing their own neighborhood.
How do prospective residents tour the property?
It depends on the property, but most tours are self-guided showings, which tend to perform better than scheduled agent showings.
How long will it take to rent my property?
Our average is under 30 days. It can take longer in rural areas, 55+ communities, very high-end homes, homes in lower condition, and whenever we are testing a higher rent.
How soon will my property be on the market?
Within a week, if the home is rent-ready. If it needs make-ready work, expect an additional one to three weeks, depending on its condition.
Who sets the rent price?
We give you an honest assessment of market rent. If you'd like to test a price up to about 10% higher, we'll try it. Our commitment is to lease your home at the highest rent we can achieve with minimal vacancy; we don't promise a specific price.
Will you tell me before lowering the asking rent?
Yes. We check in with you weekly while your home is on the market, and you receive an automatic scorecard showing inquiries, prequalified applicants, scheduled showings, and completed showings. You'll see the same data we do.
How much will you raise the rent at renewal?
We set renewal rents based on current market data, aiming as high as possible while staying just under market, usually by less than $50. That keeps you from falling behind the market while making it a poor financial decision for a good resident to move. Turnovers cost thousands in make-ready, leasing fees, and lost rent, so keeping a good resident is almost always worth it.
What is the rent-ready checklist, and why is it required?
Our rent-ready standards list the conditions a home must meet to be legally rentable in Florida and to attract a quality resident. We gain nothing when you spend money on repairs. The standards exist because those items affect your legal right to collect rent and the residents your home will attract.
Who decides what work is done between residents?
We set the make-ready scope based on our rent-ready standards and carry out the work. We involve you in any decisions about unusual items.
Why is there a fee for lease preparation?
Owners pay $30 to $45 for an attorney-prepared lease. The standard Florida state lease would be cheaper, but the attorney lease is stronger. It also includes legal advice throughout the lease term, discounted eviction fees, and automatic updates when the law changes. Residents pay a $149 lease preparation fee, which lets us keep application fees low so your home rents faster.
What happens if I already have a resident with an existing lease?
We honor the existing lease exactly as written, as long as its terms are legally enforceable. At the first renewal, the resident moves onto our lease and terms.
Who handles an HOA's resident application?
We handle the association's resident approval process, and the resident pays the association's application fee. A few associations also require a deposit from the owner.
Money and Reporting
When do I get paid?
Rent is due on the 1st and considered late on the 5th. Owner payments go out by the 10th, and as early as the 7th depending on weekends, by direct deposit. Paper checks are available but discouraged because they are slower. We can accommodate an inherited lease with a different due date within reason.
What reports will I receive?
You get real-time statements and reports in your owner portal, plus a 1099 at year end.
Why do I need to keep a $1,000 reserve?
Your reserve is $1,000 per single-family unit or $500 per multifamily unit, and it lets us pay vendors quickly. Many managers pay vendors once a month; we pay them the same week. That earns our clients faster service and better pricing, and the approach only works when funds are ready. The same reserve applies to every client.
How do you handle late rent?
We act immediately. When rent is late, we charge the late fee and serve a three-day notice, which under Florida law excludes weekends and legal holidays. We don't offer payment plans. If the rent isn't paid within the notice period, we file for eviction, and a resident who pays during the case must also cover the attorney's fees. This consistency is a large part of our 99% eviction prevention rate.
Inspections
What inspections do you perform, and what do I receive?
Every plan includes a move-in inspection and a move-out inspection, each with a written report and photos. These document the home's condition at the start and end of every residency.
Full Service and Full Service Plus add an annual inspection at renewal, also with a written report and photos. Full Service Plus adds a mid-year compliance walkthrough with a written report, which confirms the resident is following the lease and caring for the home.
On any plan, you can request additional inspections at any time for $79 each.
How do you get the keys to my property?
The simplest option is to leave the keys somewhere secure at the property for our inspection team. You can also mail them to us, or we can pick them up. We need two copies of every key, all entry codes, and at least one garage remote and gate pass.