Owner FAQs

We will be ready within the first 24 hours after signing the contract.

Our goal is to find suitable tenants as soon as possible. In order to do this, we use various advertising platforms.

Tenants need to pay the application fee. We use this fee to enable credit checks, background checks, and eviction checks.

We'll use practical tools and result-oriented strategies to determine the proper rent. Among other practices, we conduct deep research and market comparisons. All the gathered knowledge allows us to create highly competitive rent prices.

We have different payment methods: mail, office delivery, or online payments.

Yes, we can agree to make direct deposits to your preferred bank account.

Yes, we screen all the prospective tenants. The screening process covers a variety of tests. These include criminal history, credit checks, income verification, identity verification, references and employment verification. The tests have been chosen to lower the risk of admitting problematic tenants.

Please check with your insurer to make sure that you keep the coverage. Before starting to manage, we need to see proof of your insurance. Your insurance won't cover the tenants' personal belongings. That's why all our renters need to have adequate renters insurance. This greatly helps to solve emergency issues.

First, your tenant needs to successfully get through the screening process. When that goes well, they are obligated to pay the full security deposit. Also, they will electronically sign the lease. They need to read through the legal document and agree with all the terms.

Sometimes there are extra fees involved. In this case, they need to settle all of these things when signing the agreement.

When your tenant moves out, we inspect the property's condition thoroughly. They will get a copy of their move out inspection, an itemized list of damages, and a returned deposit (if applicable). A deposit is not returned if there are damages found.

We do move-in and move-out inspections. At your request, we can do an unlimited number of periodic inspections. This way you can ensure the property remains in good condition.

When tenants move into your property, all tenant utilities will be in their name. All the owner's utilities stay attached to their name. The utilities that remain in the owners name are mailed to Nicodi for payment. Of course, your regular cash flow statement includes the utilities.

Our lease agreements contain strict rules about rent payment delays and failures. Tenants have to quickly pay the late fees after receiving the notice. Continuing payment default results in eviction.

You are able to access a multitude of reports when you use our owner portal. These reports include regular statements for income and expenses.

Allowing pets and smokers isn't something you would be obliged to do. When it comes to pets, you should keep in mind that being too strict could cost you a considerable amount of prospects.

We forbid smoking in all the rental properties. If we find evidence of smoking, then the tenants have to pay for any relevant damages.

No, property management means that you can still have a say in every decision that is made. Also, you can choose the level of how much you want to be involved in smaller-scale choices.

Rental income is paid out in arrears on the first day of each month. If the first day falls on a holiday or weekend, the payout will be initiated the preceding business day. Rental Owners can choose between a monthly or quarterly payout schedule. For example, if a Rental Owner opts for a monthly payout schedule and January's rent has been collected, it will be paid out on February 1.

The management service agreement with Nicodi Management is binding for one year. However, after the first six months, the agreement can be terminated with 45 days' written notice and an early termination fee.

An early termination fee is equivalent to one month’s rent will apply if the management agreement is canceled before the end of the initial term.

Property management fees are collected directly from rental income on the last day of each month. If the last day falls on a holiday or weekend, the fees will be collected on the preceding business day.

No, Nicodi Management does not charge a vacancy listing fee.

Monthly expenses, such as vendor payments for maintenance requests, recurring charges, or utilities, are paid from rental income. If there is no rental income or insufficient funds in the property’s operating account, an Owner Contribution request will be sent. Rental Owners can fund the Property Reserve account via bank transfer through their Rental Owner Portal.

No, Nicodi Management operates with full transparency. Rental Owners will incur only the following fees: one-time onboarding fees per unit, annual administration fees per unit, and property management fees.

Yes, Nicodi Management requires that rental units be in rent-ready condition before listing. This means that all major systems, such as plumbing, electrical, heating, and cooling, must be in good working order, and the unit should be free of significant damage to both the interior and exterior.

We recommend that Rental Owners avoid direct communication with tenants. All tenant interactions should go through Nicodi Management.

We encourage you to ask any questions you may have. If you don’t find the information you need in our FAQ section,