Owner FAQs
Answers to Common Property Management Questions
Whether you're a first-time landlord, experienced rental property owner, or apartment investor, understanding how professional property management works is important.
Below are answers to some of the most common questions we receive regarding leasing, tenant screening, maintenance, financial reporting, owner payments, security deposits, and landlord responsibilities in Oregon and Washington.
General Service Questions
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Owner distributions are typically processed between the 15th and 20th of each month after rent payments have cleared our client trust account. In most months, owners receive their funds around the 15th, although bank holidays and payment processing times may occasionally affect timing.
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Home warranties are designed for homeowners, not tenants. The wait times and total repair times are often excessive. This can lead to rent concessions that cost owners money. Tenants may not renew if they have a bad maintenance experience. For these reasons home warranties are rarely utilized when maintenance issues arise.
Selling Your Property
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We don’t recommend it. Selling a property with a tenant in place requires the seller to overcome multiple barriers. Common issues include; Challenges scheduling tours which increases days on market
In addition to this there may be laws impacting a landlord’s ability to sell the home.
Can Sleep Sound help me sell my rental property?
Yes we can. While we respect and do not interfere with existing broker relationships (a broker who referred someone to us), we regularly help our clients sell. We not only know the laws and the property, we have an existing relationship with the resident.
Owner Portal Questions
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Owners can visit our website for a link or an owner can find the link by searching for previous owner statements.
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Follow the “forgot password” instructions that can be found at the log-in screen.
Maintenance & Repairs
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Sleep Sound notifies owners of any repairs greater than $500.00.
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Sleep Sound needs approval for any repair greater than $750.00 unless the situation becomes a habitability issue or an emergency.
Accounting Questions
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An account that holds reserve funds for your property. This allows Sleep Sound to pay for expenses in the event the rent for that month has already been distributed.
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In the city of Portland the Landlord is required to pay for and provide trash and recycling services. In other cities it depends on the property and company that provides trash and recycling services.
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This income is usually generated from a utility bill back where a resident is reimbursing all or some of a utility bill. For example, if a property owner pays the water and sewer bill for a 4 unit property, it is common practice to divide the bill among the 4 units so the owner can be reimbursed.
Tenant & Lease Questions
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Sleep Sound follows the legal process of sending the tenant a late notice. If the tenant does not pay within the notice period, then an eviction may be filed.
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The tenant will be responsible for damages. Depending on the rental agreement this may be actual damages or a flat fee. Sleep Sound will then re-rent the property at no cost to the owner.
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The tenant will be responsible for paying for any repairs related to the damage. Sleep Sound does not wait until the tenant vacates to address damages.
Leasing & Tenant Screening
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One of Sleep Sound’s major differentiating factors is its criminal background check. Most companies only perform what’s called an “instant background check”
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Properties are listed online on all the leading platforms, including, but not limited to Zillow, Trulia, Hotpads, and more. Sleep Sound also installs a “For Rent” sign at the property to generate local interest.
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Owners naturally want to know about the applicants. For Fair Housing reasons Sleep Sound does not share any information about the applicants during the screening process. Once a household is approved, Sleep Sound will provide limited information such as total members in the household.
Security Deposit Questions
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Sleep Sound holds all tenant deposits unless otherwise agreed. This ensures all parties can comply with state regulations for accounting and return of unclaimed funds.
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No. Security deposits are not in interest bearing accounts. In Washington State, the interest earned on deposits is disbursed to the state of Washington automatically.
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Security deposits are generally equal to 1 month's rent. In some instances the security deposit requirement can increase based on an applicant's credit or rental history. Increase can be 25%, 50%, or 100% to offset additional risk.
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Not unless it is obvious that the damage was caused by the tenant. Ultimately the cost to turnover or prepare a property for market is a cost of ownership and paid by the owner. In the event the repair or damage was due to the tenant’s misuse or negligence (exceeding normal wear and tear), reimbursement for those expenses or damages will be made by withholding funds from the deposit. In the event the deposit does not cover all of the associated repairs or damages, or if no deposit is on file, the tenant will be charged and invoiced for the remaining balance to be paid upon receipt.
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It depends on the complexity of the move-out charges. In most cases funds will be distributed within 21 days of move-out.