Owner FAQs

We charge 1/2 of the first month’s leasing fee which covers marketing, move-in inspections, applicant screening, security deposit collection, and much more. Our management fee only applies to occupied properties and it is assessed based on the gross collected rents. To learn more about our fee structure and management services schedule a consultation.

Detailed background screenings are a very important part of the tenant selection process. At Reedy & Co., we conduct in-depth criminal and credit background checks, ID verifications, and eviction scans on all applicants 18 years old or older that will be occupying the property. In addition to these checks, we also verify income and employment and contact the applicant’s current landlord for a rental reference if applicable.

At minimum, one month’s rent is collected as a security deposit and additional deposits are collected for pets. All security deposits are held in a trust account per Tennessee law.

When things break, having a property management company ready to respond is ideal. While you are always notified of any maintenance requests at your property you are not required to call repair people or set up appointments for these repairs—we’ll do this for you! To keep costs low, we have an “in-house” licensed and insured maintenance staff.

Timely rent payments make us happy and we go above and beyond to make sure our tenants know when rent is due. We send a friendly rent reminder on the last day of every month to remind tenants rent will be due by the 1st and late if received after the 5th. On the morning of the 6th, if rent has not been received, we contact the tenant to alert them that rent is now late. We try to work with tenants as much as possible and understand that sometimes mistakes happen or emergencies come up. However, if we have not received communication from the tenant about paying due rent, we can file for eviction on the 15th of the month.

We’ve heard that a good property manager is worth their weight in gold. By hiring a property manager, you are actually hiring an adviser, a photographer, a tour guide, a negotiator, a coordinator, a 24 hour emergency phone line operator, a mediator, a bookkeeper, a problem solver, a multi-tasker and an agent all in one. Need we say more?

Your property manager is your buffer. He or she is the contact point for the tenant so you can rest assured that the property is being cared for and that you will not have to deal with a maintenance issue at the drop of a hat. You will not need to stop your daily routine to address an HVAC issue, a running toilet, or a tenant who refuses to pay rent. In a nutshell, your property manager will take the headache out of owning an investment.

As for Reedy & Co., we take pride in wearing all these hats. Our mission is to secure tenants that will maintain the value and condition of your property. We incentivize our tenants to pay rent on time with monthly giveaways and treat them as more than just “end-users”. Our Reedy & Co. team has over a decade of property management experience and has managed hundreds of units in the Midsouth area. We continually strive to improve our processes and our business so we can provide the highest level of service to our owner clients and our tenants.