Owner

Owner Resources

Stress-Free Ownership Reliable Returns

At Fairway Property Management, we understand that owning rental property is one of the most valuable investments you can make. While it offers the potential for steady income and long-term growth, it also comes with its share of challenges. From finding and keeping reliable tenants, to coordinating maintenance and repairs, to staying compliant with ever-changing housing laws and regulations — the responsibilities can quickly become overwhelming. That’s where we step in. Our mission is to make property ownership simple, profitable, and worry-free. We take the stress out of day-to-day management by handling every detail with professionalism and care. Whether it’s marketing your property, screening tenants, collecting rent, or ensuring legal compliance, our team works tirelessly to protect your investment and maximize your returns.

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Owner FAQ

Getting Started

What happens after I sign the management agreement?

Within 1–2 business days, you’ll be assigned a dedicated account manager who will contact you. If the property is vacant, we’ll inspect it and provide a report of items that need attention before listing. If it’s occupied, we’ll collect lease details, security deposits, and schedule an initial walkthrough with the tenant, then share findings with you.

What insurance is required?

Owners must maintain dwelling insurance and liability coverage (e.g. a minimum liability of $500,000). Fairway must be listed as an Additional Insured (not just “Additional Interest”) on the policy. We can assist if you need help securing proper coverage.

Should utilities be deactivated during vacancy?

No. Utilities (water, electricity, trash, etc.) should remain active to facilitate property inspections, vendor work, and marketing.

Who is responsible for utility transfer for new tenants?

We have a 24/7 emergency response service. They dispatch vendors as needed and update you the next business day with details and next steps.

Leasing & Tenant Placement

How do you determine the rental rate?

We provide a comprehensive rental market analysis, considering comparable properties, location, condition, and demand. Expect a recommended range, typically within a 10% variance of current market trends.

How do you show the property?

We offer self-guided tours, in-person showings, or virtual tours—depending on your preference and local regulations—to accommodate prospective tenants.

What standards do you require for move-in readiness?

Properties should be empty, clean, freshly painted, with all systems (plumbing, HVAC, electric) functioning properly. Smoke and CO alarms must be installed, landscaping trimmed, and all repairs completed.

How quickly can you lease the property?

Our average “days on market” is typically under two weeks, depending on location and condition.

Maintenance & Repairs

How is maintenance handled for vacant properties

We create an inspection report and share it with you. For repair work above a defined threshold (e.g. $500), we seek approval before proceeding. Below that threshold, we act quickly to make the property market-ready.

How is maintenance handled for occupied properties?

Tenants submit maintenance requests via our portal. We troubleshoot issues and dispatch approved vendors. For costs above the threshold, we consult you; for minor repairs, we proceed promptly.

Can I use my own vendors?

If the property is vacant, yes. If occupied, we prefer to use our vetted vendor network to ensure consistency, quality, and tenant protection.

How do you handle after-hours emergencies?

We have a 24/7 emergency response service. They dispatch vendors as needed and update you the next business day with details and next steps.

Accounting & Finances

When do I receive rental income?

On the 1st of each month, we deposit the previous month’s rent directly into your bank account. You’ll also receive a detailed owner statement with income, expense breakdowns, invoices, and photos of maintenance work.

How are security deposits handled?

Security deposits are typically one month’s rent minus a defined offset (e.g. $25) to avoid confusion. We perform a move-out walkthrough, deduct for damage (beyond normal wear and tear), and return the balance with itemized deductions within the legal timeframe.

Do you require a cash reserve?

Not always—but if you’d like us to pay certain bills (HOA dues, property tax, etc.), a reserve may be necessary to cover those disbursements.

What if I need to sell the property?

We recommend waiting until the property is vacant. If selling while occupied, we coordinate with the tenant to ensure cooperation and minimal disruption