Lakeshore Asset FAQ
For Property Owners
How quickly can you start managing my property?
We can begin managing your property within 24 hours of signing the management agreement.
How long does it take to find tenants?
Our marketing strategies typically secure qualified tenants within 30 days, using multiple advertising platforms to maximize exposure.
How do application fees work?
Applicants pay a non-refundable application fee, which covers credit checks, background checks, criminal history, eviction searches, and terrorist watch list screenings.
How do you determine the rental price?
We use market analysis tools, historical and current rental comparisons, and strategic pricing to set a competitive rent that attracts tenants while maximizing returns.
Can I keep my current insurance?
Yes—most insurance providers allow you to convert your current policy to a landlord policy. Note: this does not cover tenants’ belongings, so we require all renters to have their own insurance.
What inspections are done?
We conduct move-in and move-out inspections, plus periodic inspections during the lease term—complete with photos for your review.
How are utilities handled?
Owners pay utilities during vacancy; tenants cover utilities during their lease term.
What happens if a tenant doesn’t pay rent?
We enforce strict lease terms and follow all legal procedures for late rent and evictions.
How do you handle property damage?
Repairs are completed by licensed vendors at competitive rates, and we notify you before work begins.
What reports will I have access to?
Through your owner portal, you’ll see financial statements, income/expense reports, and maintenance receipts.
Should I allow pets or smoking?
We recommend allowing pets, as over 70% of renters have them. Smoking is prohibited in all properties.
Do I lose control if I hire a property manager?
No—you maintain ownership and decision-making power while we handle daily operations and lease enforcement.
For Tenants
How do I apply for a rental?
Applications are submitted online via the “Homes for Rent” page. All adults 18+ must apply separately. Please review our screening criteria before applying.
How can I view a property?
Call the number on the listing or contact us online to schedule a showing.
Can I apply without visiting the property?
We prefer you see the property first, but understand that’s not always possible.
Do I need to sign a lease?
Yes—leases are signed electronically, typically for a 12-month term.
What’s the security deposit policy?
Usually equal to one month’s rent, due within 24 hours of application approval.
When is rent due and how do I pay?
Rent is due on the 1st of each month and paid through your online tenant portal.
Will rent increase during my lease?
Rent adjustments typically occur at lease renewal, based on market conditions.
Can late fees be waived?
No. Our late fee policy complies with Fair Housing Laws and is applied equally to all tenants.
What if I can’t pay rent on time?
Contact our office immediately to discuss your situation.
Can I have a roommate?
Yes, but all roommates must be approved before moving in.
What’s considered an emergency?
Any situation that threatens life or causes significant property damage, such as flooding or no heat in freezing weather.
What’s your pet policy?
Varies by property—check your lease agreement. Adding a pet requires prior approval.
Can I change the locks?
No—this violates your lease. We rekey locks between tenants.
Can management enter my home without me there?
Yes, with notice, for reasons such as repairs, inspections, or emergencies.
Do I need renters insurance?
Yes—proof of coverage is required before move-in.
