How do I know if a property is still available?
For the most part, all of the properties listed on our website are available to rent. However we do not remove listings from our website until the lease is signed. So it is possible that we have approved rental applications on a property, but because we have not signed the lease and have not collected all funds owed, we keep them listed. Also, some properties that are part of a larger complex always remain on our website. These properties are always in high demand, so we keep them listed to create a waiting list so that you don’t miss out when one comes available. If you find a property that you are interested in and find out that it is no longer available, our leasing agents will gladly tell you about other properties available or other properties coming on the market soon.
How do I apply for a rental?
Go to the I’m A Renter page on this website, select one of the properties and then click on the “Apply Now” button.
What are your qualifications to rent?
A full description of our application qualifications can be found on the For Rent page on this website under the heading “Rental Criteria.”
Why do I need a co-signer?
If you have no or low credit, have no or limited rental history or have an income ratio lower than our normal standard, you may be able to use an approved co-signer to move into one of our properties.
Do you rent to students?
Yes, and Madison Real Estate and Property Management, Inc. treat students like anyone else. The student applicant must still qualify under the guidelines for the property being applied for. We will consider all forms of income, including student loans and grants. Some properties may take co-signers to qualify for lack of income in addition to lack of credit and rental references. Just like regular co-signers, the co-signer for a student must qualify in place of the applicant.
How long will it take to process my application?
Most applications take 48 to 72 hours as we do hire a professional screening company to verify employment, income, rental history, credit, and check for any criminal history. The most frequent delays result from the professional screening company not being able to contact or get a return call from current and former landlords or employers. You may want to contact them ahead of time to let them know they will be receiving a call and encourage them to return it promptly. The second most frequent cause of delay is the applicant not getting in additional information in a timely manner.
When will I hear from you once I turn my application in to your office?
You will be contacted immediately once you application has been processed and we receive the results. Madison Real Estate and Property Management, Inc. will email or call the primary contact once the results are received. We need ONE CONTACT per household. We cannot call every roommate.
What if I have special circumstances that I need to tell you?
Put your special circumstances in writing with your application. It does no good to explain your situation to our leasing agent or receptionist since they do not process applications. Please be as detailed as possible and we will follow up with any questions we may have. Please be aware that Madison Real Estate and Property Management, Inc. strictly adheres to Fair Housing laws and while we may take special circumstances into consideration, we must apply our rental criteria uniformly and evenly to each prospective tenant.
Is the owner willing to make modifications to the property to accommodate a handicap?
Under the heading Reasonable Accommodations, Madison Real Estate and Property Management, Inc. is happy to accommodate Reasonable Modification requests.
A Reasonable Modification is an alteration to the physical premises allowing a person with a disability to overcome obstacles that interfere with their use of the dwelling.
Because some modifications may require licensing and permits, let Madison Real Estate and Property Management, Inc. know specifically what changes you would like to make and we will discuss it with the property owner.
Unless the property is federally funded, the tenant is typically responsible for the costs incurred for the changes and bringing the property back to its original condition once the tenant moves away.
What is best method of communication during the application process?
We prefer that you email us at Applications@MadisonSpokane.com. We will reply within one business day. We normally will only communicate with one applicant in your party or family. You can also call 509-465-9052.
Will you hold the property for me?
Madison Real Estate and Property Management, Inc. understands that when you find something that you like, you want to hold it. If that is the case, here is what we require:
You must submit an application (go to the For Rent page and then click on the “Apply Now” button for the property in which you are interested) with the application fee in secured funds (no cash or personal checks).
You must pay the Holding Fee.
The contingency lease is a binding contract that legally obligates you to the property unless your application is denied. The tenant has 48 business hours to provide all documentation, and Madison Real Estate and Property Management, Inc. has 5 business days to let the tenant know if they are approved or not.
Why can’t I have a 2-year lease?
If you want to sign a 2-year lease, please just make that request and we’ll contact the property owner for approval. To extend a lease beyond 12 months, the lease must be notarized. An additional fee of $35 is charged to prepare and meet with the notary for a lease that extends beyond 12 months. Otherwise, our typical leases are 12 months.
Is the rent negotiable?
No, our rental prices are set at market rents. However, if you absolutely do not agree, Madison Real Estate and Property Management, Inc. is willing to request a lower rent from the property owner after:
1. You provide an advertisement of a comparable rental showing a lower rent.
2. You submit your application and application fee.
If your application is approved, we will submit your request to the owner along with your comparable ad. However, we do ask that anyone considering this process first ask themselves if they are willing to risk losing the property while they try to negotiate the price.
When is my rent due and where can I pay my rent?
Rent is considered late at 4:00 PM on the 1st day of the month. Late fees will be charged after 4:00 PM on the 3rd day of the month.
To avoid a penalty, rent must be paid online via ACH transfer or credit card. We do NOT accept cash, however cash payments can be made at third-party locations. Contact our office if you need to pay in cash.
Office hours are Monday through Friday 10:00 AM to 4:00 PM. We are available by phone from 9:00 AM to 5:00 PM Monday through Friday.
Please specify your rental address in the memo field of your check.
If you choose to pay other than online and incur a penalty, acceptable forms of rent payment are personal checks, Cashier’s Checks or Money Orders. We are unable to accept cash at the office.
How much are late fees?
Late fees are specified in your lease. If you are going to be late, please contact Accounting@MadisonSpokane.com immediately. Otherwise, Madison Real Estate and Property Management, Inc. is required to begin multiple actions to collect rent, which will incur more fees as well as the possibility of being evicted. We don’t want to evict you anymore than you want to be evicted. So please, work with us if things get difficult.
Why are the late fees so high?
Late fees are set to encourage on-time payment and discourage late rent. The property owner’s mortgage payment is due on the first and in most cases; they depend on the rental income to make that payment. Additionally, it takes a great deal of extra time and effort on our part to collect late rents.
Why are you charging me for serving a notice to pay rent?
There is additional time, effort, supplies and gas and travel time that goes into collecting late rents. This is extra work that we would prefer not doing, but if we have to do it, we need to be compensated for the extra work that we don’t have to put forth for tenants that pay on time.
What is a notice to pay rent or quit? (AKA 14-Day Pay or Vacate Notice)
A notice to pay rent or quit is a legal notice that rent is past due and that Madison Real Estate and Property Management, Inc. can begin the eviction process. If you get such a notice, please contact our office immediately to either correct an error on our part, or to communicate when you will have the rent paid in full.
Can I split my rent payment?
Unfortunately this cannot be done as it creates an accounting nightmare, plus any late rent payment will incur a late fee. If you are late or expect to be late, the best thing to do is to contact our accounting department. Communication at this point is the key. You can contact our accounting office by email, Accounting@MadisonSpokane.com.
Can I pay my rent online?
Absolutely. In fact, online rent payment is the only way we can 100% guarantee that you will never have to pay late fees, so long as you have the funds in your account when it pulls the rent out. Additionally, online rent payments are the only way to prevent paying a paper check penalty.
Can I do online payments through your website?
Online Rent Payments can be set up for one time or continual or continual auto debits from your checking account. Please go to the Tenant Portal sign in page of this website to set up this feature.
How many keys do I get?
Madison Real Estate and Property Management, Inc. will supply one per unit. If the tenant wants to make their own copies for others, they can do so at their own expense. However, we do require all keys to be surrendered should you decide to move out.
Why can’t the owner pay for the utilities?
Not every tenant or family uses the same amount of utilities. If the property owner were to pay utilities, they would have to increase the rent based on an average over a number of years. That wouldn’t be fair as each tenant uses utilities differently. Therefore the tenant’s pay their own utilities. If they are conservative, they pay less and if there are more tenants in the unit, they probably pay more. It is the fairest way to handle it.
How do I get help for a maintenance problem?
Once you move in you will be assigned to one of our Property Management Teams. From that point forward, you will contact them for all maintenance issues.
How long should I wait to hear back from someone regarding a maintenance problem?
You should hear back from our team within an hour or two. Should any non-emergency request take more than 24 hours, please call our office and ask to speak with your Property Manager.
What do I do in an emergency?
If this is an after-hours urgent maintenance items occurs, please call our 24 hour emergency at 509-465-9052 and as soon as the greeting begins, press “1” or, you can dial 855.559.5525. Examples of urgent matters are active water flooding, fire, or anything you believe to be dangerous to your heath that can’t wait until the next business day.
*** For Fire, Natural Gas, Natural Disasters or other true emergencies, call 911 First! ***
What am I responsible for maintaining?
Residents are responsible for maintaining heating filters and fresh smoke detector batteries and carbon monoxide batteries at all times. Light bulbs that are easily accessible also need to be maintained by the residents. In most situations, yard maintenance is required. Please refer to your individual residential lease.
Can I plant my own landscaping?
Not without owners approval. If you want to do some planting please let us know ahead of time and we will work to get approval for you.
Can I make repairs and deduct them from my rent?
No, you should not make your own repairs and you should never deduct any amount from your rent, ever. Some minor repairs/troubleshooting should be done by the tenant, such as flipping a breaker or unclogging a toilet. But for the most part, tenants should not take the risk or liability in attempting their own repairs. For a list of repairs and troubleshooting that are approved, please visit our Maintenance FAQs. Since most repairs do require a professional who is licensed, bonded, and insured, please contact Madison Real Estate and Property Management, Inc. through your Tenant Portal to submit your maintenance needs.
Do we have full access to the community/HOA services as a tenant?
Yes. You’ll enjoy the same benefits as the owner of the property would.
Who pays the HOA fees?
The property owner pays the Home Owner’s Association dues. However, it is very common for the Home Owner’s Association to send statements and other important notices to the rental address. If you receive such notices, please forward them to our office immediately.
Do I need approval to paint or change something in the home I am renting?
Yes. Any and all changes or modifications to the property must be pre-approved after receiving your written request at Info@MadisonSpokane.com.
Do I need renter’s insurance?
The short answer is YES. Renters still have exposure to the same types of losses a homeowner has. That is why there is a special type of homeowner’s insurance called renter’s insurance. Neither the property manager’s insurance policy or the home owner’s insurance policy covers tenants personal losses or liability.
Tenants are responsible for obtaining insurance for their personal property if they want to be covered in the event of fire, theft, water damage or other types of loss.
It is highly recommended that all residents carry enough insurance to cover themselves and their personal property. Please consult with your insurance agent for specific details. It’s cheap and we’ve seen far too many tenants not get reimbursed for personal property damages.
In addition to coverage for their personal property, a renter’s policy also provides liability coverage. Tenants may wonder why they need liability coverage when the landlord’s policy has it. The answer is simple: because the landlord’s insurance only covers landlord liability. It doesn’t cover the tenant’s liability. Renter’s insurance covers the tenant’s liability up to a set limit, as long as the tenant did not intentionally cause the loss. Liability coverage isn’t just limited to damage to others or others’ property that occurs inside the tenant’s residence. It also covers legal defense expenses and the renter’s liability outside the home. A common example we have seen is where a tenant moves in and hooks up the washer incorrectly, which floods the home. We have seen claims of up to $15,000. Because the tenants had insurance, the insurance paid it, instead of the tenants. Unfortunately, we have also had cases where the tenant didn’t have renter’s insurance and had to pay thousands of dollars out of pocket due to a simple error on their part. Remember, it is extremely cheap for the coverage provided and it protects YOU.
I don’t want the owner to come in and do inspections.
With proper notice, both the property owner and Madison Real Estate and Property Management, Inc. have the right to inspect the property. In some cases, the owner is actually required by the IRS and their insurance company to make at least one inspection per year.
What happens if I need to move before the end of my lease?
Please contact us at Info@MadisonSpokane.com or 509-465-9052 after reviewing your rental agreement.
What do I do if I need to move out?
It is required that you provide written 30-day notice using Madison Real Estate and Property Management, Inc.’s official notice form. You can mail, email, fax, or hand deliver this. If you do not get verification of receipt within 3 business days, please contact our office immediately as we did not receive it.
What happens if only one roommate wants to move out?
Your rental agreement spells this out very clearly. Please read and then contact us at Info@MadisonSpokane.com to make the necessary changes.
Can I sublease my apartment/rooms?
No. This is stated in your lease.
Why should I rent from your company?
Madison Real Estate and Property Management, Inc. is a professional, knowledgeable, and courteous property management company. We work very hard to provide the highest quality resident services. We use professional vendors (painters, handymen, plumbers, carpet cleaners, etc.) to ensure that your unit is in good condition. Additionally, we offer many services and conveniences (online application, online rent payment, auto-pay for rents, etc.) that our tenants enjoy and appreciate.
How do I remove rust stains, to include my dishwasher?
To remove rust stains use a solution of oxalic acid and water (refer to the manufacturer’s instructions for strength and mixing information). Oxalic acid can be purchased at most hardware stores.
Before cleaning the dishwasher, secure the power by flipping the breaker to the OFF position. Be sure to wear latex gloves to protect your skin. Dip a non-metal scrub brush into the acid solution and scour the stains.
How to remove blood from the carpet?
Call a professional carpet cleaner right away. If they cannot get to you right away, keep the carpet wet until they can arrive. Madison Real Estate and Property Management, Inc. uses A Action Tech Inc. at 509-455-4125.
My garbage disposal is clogged.
See our Maintenance FAQs for this and all maintenance/repair related issues.
How do I remove crayon stains from the carpet?
First, scrape off and discard any extra wax that you can. Place a brown paper bag over the affected area. Rapidly move a hot iron back and forth over the area, switching to a new paper bag as needed. Remove as much crayon as you can in this manner. Allow the affected area to cool. Apply rubbing alcohol with a cotton ball, or use a commercially available product like the Tide to Go pen. For particularly set-in stains, dry-cleaning solvent can also be used. When stain removal is complete, end with a light overall cleansing using a mild pH neutral dish washing detergent diluted with water, and a final clear water rinse to completely remove remaining cleaning residue and stain solutions. Blot dry or use a wet/dry vacuum to remove excess moisture. For particularly low dense piles, you may be able to follow ironing with the use of a high quality plastic eraser. Lightly rub the crayon mark with the eraser, and vacuum up the residue. Unless the eraser or crayon has left greasy marks remaining on the carpet, you do not necessarily have to follow with any overall cleansing.
I have given my 30 days notice to move out, but I need to retract my 30 day notice, what am I suppose to do?
We’re so glad that you have chosen to stay. Just like your notice to vacate, your notice to stay needs to be in writing and sent to the office right away. The fastest approach would be to email your retraction to Info@MadisonSpokane.com or mail it to 910 N. Washington St., Suite #107, Spokane, WA 99201. There is a chance that we may have already secured new tenants, so once you have sent your retraction, you may also want to call to confirm its receipt and to make sure that the lease can be extended.
Do I have to turn in my keys to the office when I move out?
Yes. Your keys must be returned to the Madison Real Estate and Property Management, Inc. office by noon on the last day of occupancy to avoid additional charges. Our computer system charges rent until we enter in that keys have been received, so you do want to make sure that keys are surrendered to one of our employees.
Can I use my security deposit as the last month’s rent?
No. We’re sorry, but the security deposit is to cover any cleaning or damages to the property and cannot be used for other reasons.
Do I get any rent back if I move out early?
If you move out prior to your lease termination date, you are still responsible for rent and all utilities. It is Madison Real Estate and Property Management, Inc.’s suggestion that you contact us and turn in the keys early, allow us to do a turnover on the property and give us permission to advertise and show the property. If we find a replacement tenant before your lease terminates, any rents collected by the new tenant will be credited back to you. Our goal is to limit the number of lost rent days, so it is to our advantage and yours not to wait until the lease termination date to try to find replacement tenants. You benefit because we have found a replacement tenant which relieves you of any future rent and we benefit because we had no lost rent between tenants.
When I move out why can’t I clean the carpet myself?
Unfortunately, not all carpet cleaners are the same. Also, some tenants have rented carpet cleaners from grocery stores or used residential cleaners and caused more harm than good. The property’s carpets were professional cleaned prior to your tenancy and must be cleaned again by a Madison Real Estate and Property Management, Inc. approved vendor.
I have given my 20 day notice, but I need an extra week to move out, what do I need to do?
Madison Real Estate and Property Management, Inc. would be happy to accommodate your holdover if it does not interfere with another tenant moving in to the home. Please email us at Info@MadisonSpokane.com or call 509-465-9052 to make sure that we have not selected new tenants. If not, then you must submit a written request with a specific holdover date. Once such a request is received, you will receive notification that the extension has been accepted or denied. You will be required to maintain the property and all utilities during the lease holdover period.
Do you have a limit on the number of pets that are allowed at a property?
Each of the properties managed by Madison Real Estate and Property Management, Inc. is owned by a different owner. Each property owner has their own criteria. Some allow pets, while others do not. Some allow cats, but no dogs and vice-versa. If the listing on our website indicates that the property does not accept pets, the owner has already made their decision not to accept pets. If the listing indicates that the property does accept pets, please inquire if there are any limitations as to the number or type of pets. Typically, no more than two pets are allowed at any of our properties that do accept pets.
All Madison Real Estate and Property Management, Inc. properties accepts Assistance Animals as defined by HUD and no additional rent or deposit is required.
Why is the security deposit so high?
The property owner is handing you the keys to a property worth 100 to 300 times the cost of the security deposit. This is required to ensure some level of protection.
Is there any way to negotiate the deposit? Can the deposit be split up?
Unfortunately we cannot accept split payments. The security deposit is the tenant’s way of proving their ability to perform per the lease. Not having the funds to pay the security deposit up front is a sign that should hard times arise, non-payment of rent is likely.
What do I have to do to get approval for cable/satellite installation?
Call our office to request permission and at that time we will be able to tell you of any changes in the policies regarding cable/satellite installation.
When is my lease up?
Your lease states the termination date of your rental agreement. If would like to re-confirm the termination date, please email us at Info@MadisonSpokane.com and we’ll gladly provide this information.
What will my rent be if I go month to month after my initial lease?
We do not allow month-to-month tenancies. All tenancies must be in a term lease. We can adjust time frames of the term, but under no circumstances will a lease convert to a month-to-month tenancy.
How much will it cost me if I break my lease?
If done right, a lease break may only costs a few hundred dollars. If done wrong, it can cost you thousands. If your circumstances have changed where you think you may need to break your lease, contact Info@MadisonSpokane.com or 509-465-9052. We will assist you in either staying or the proper procedure if you need to vacate prior to your lease termination. Additionally, we will explain the possible costs for breaking your lease.
I am getting a new roommate do they have to apply?
Any additional occupants that are 18 years and older, must submit an application and application fee to be approved. Madison Real Estate and Property Management, Inc. does this for your safety. We will conduct a full tenant screening. Neither you nor us want you to inadvertently choose a roommate that may harm you or the property and we want to verify they can pay their rent. If the results of the screening are acceptable, we can email you the documentation that needs signed or we can schedule a time for all of you to come in and sign the authorizing paperwork. A fee to add or change roommates may apply.
How do I take someone off the lease?
Any changes to the rental contract must be in writing. If you have someone that has moved out, it might be to your best interest to keep them on the lease, as they are as responsible for the rent payments as you are. However, if they have moved out or in the process of moving out, we simply need something in writing from both the departing tenant and the remaining tenant requesting the change. If the remaining tenants qualify on their own, we will gladly make the change. If they don’t, the remaining tenants may pay a higher deposit or keep the vacating tenant on the lease until it terminates. Madison Real Estate and Property Management, Inc. can email you the paperwork or you can schedule a time to come into the office to sign the new documents. Please contact Info@MadisonSpokane.com for these requests.
How does a lease take over work?
If you plan on vacating prior to your lease termination and have found replacement tenants, simply email us at Info@MadisonSpokane.com and let us know. Additionally, have the replacement tenants submit an application with an application fee. If they qualify, we’ll be happy to accommodate a new lease signing. The deposit and the move-in inspection report remain with the property, so the incoming and outgoing tenants need to resolve this between each other.
When do I get my deposit back?
Per the rental agreement, your deposit will be refunded less any cleaning and damages, within the legally prescribed time frame outlined in RCW 59.18.280 from the date the keys are received in our office and the property has been fully vacated. Madison Real Estate and Property Management, Inc. recognizes the move-out date as the date in which all keys are returned to our office. If you fail to give proper notice and a forwarding address, your deposit will be mailed to your rental address with instructions to please forward.
Can I be approved with bad credit?
In most cases, depending on how bad your credit is, we may be able to approve your rental application with a qualified co-signer or by paying a larger deposit. If your credit does not qualify you for any of those options, unfortunately, your application will be denied.
Can I pay all of my rent in advance?
Yes, you may pay all of your rent in advance.
What are your criminal background standards?
Applicants with certain criminal convictions, especially relating to violence or drugs, are declined. Additionally, applicants that lie on their application can be denied as well.
I’m a recovering drug addict or alcoholic. Is that okay?
First you need to apply to ensure that you meet our acceptance criteria such as credit and income. You may review Rental Criteria on this website. If you have a disability and wish to request an accommodation, please request so in writing at the time of application.
How much of an incentive do I get for renewing?
Madison Real Estate and Property Management, Inc. appreciates good tenants. However, the costs of owning and running a property increase each year (insurance, taxes, maintenance, legal, etc.). Therefore, we implement a small, reasonable increase each year so that the owner of your property may maintain it in acceptable condition during your residency.
How much is the application fee?
Madison Real Estate and Property Management, Inc.’s application fee is $57.00 per adult occupying the property.
Is the application fee refunded if I am denied?
Madison Real Estate and Property Management, Inc. utilizes a 3rd party screening company to process all of our applications and the application fee goes towards those screening costs. Therefore, the application fees are non-refundable.
What exactly does the co-signer have to do to be approved?
Many times an applicant has credit or income issues that cause an application denial. A co-signer is an easy fix. The co-signer needs to complete an application with an application fee. To qualify for a co-signer, they must have income that supports their current obligations plus the rental payment and strong credit.
Can the co-signer be taken off the lease once we sign?
If the co-signer wishes to be removed from the lease, contact our office about 3 months prior to the lease termination. We’ll review your payment history and credit report and if acceptable, you can renew without the co-signer.
My online payment didn’t go through, am I late on rent if I pay by check?
If you are set up on electronic payment through AppFolio/Sage Payment Solutions and your electronic payment does not come thru, the problem is most likely due to insufficient funds in your account. Please contact Payment Solutions at 1-800-261-0240 to see what happened and what needs to happen to ensure that this doesn’t happen again. Next, please email Info@MadsionSpokane.com to explain the issue. If the problem was caused by Sage Payment Solutions, they will pay all late fees. If the problem was caused by the tenant, the tenant will be responsible for late fees and maybe a NSF fee. The rent needs to be paid, so you can request that Sage Payment Solutions re-run your account or you can submit a check or money order for the amount due.
Do you take Section 8 program vouchers?
What is an Assistance Animal?
Any animal that’s prescribed by a health care provider to people to do work, perform tasks or provide comfort for the benefit of an individual with a disability.
My pet is an Assistance Animal. May I rent the property now?
First you still need to apply to ensure that you meet our acceptance criteria such as credit, income, and criminal background. Our Rental Criteria is on our website for your review. We will also need a written notice from your health care provider confirming your disability and the need for an Assistance Animal.
I don’t get paid until the 10th and I’m calling to let you know it’s not my fault, do I still have to pay late fees?
Madison Real Estate and Property Management, Inc. charges late fees and we are sorry, but they cannot be waived as we must apply all policies fairly and evenly to all of our tenants. Please do communicate with us and keep us in the loop. Additionally, you will need to follow the Late Rent Procedures as outlined.
I came to pay rent at 5:30 on the 4th and you were closed, why am I being charged late fees?
Per your lease agreement rent is due on the 1st of every month. If rent has not been received by 4:00 PM on the 4th day of the month (no exceptions for weekends, holidays, or postage delays), it is considered late and Tenant will be charged and agrees to pay the late fee described in their lease until rent is paid in full. If the 1st of the month falls on a holiday or weekend, rent is considered to be paid on time if received in the office by 4:00 PM the next business day.
What are your occupancy standards?
Madison Real Estate and Property Management, Inc. follows the general 2-plus-1 rule accepted by HUD. That means two occupants per bedroom, plus one additional occupant per household. Occasionally a home may have an additional room that can be considered a bedroom under this rule. If your needs differ from this standard, simply make that request known and we will work with HUD and the property owner to accommodate you.
My pet has passed away. Why do I still have to pay additional pet rent?
Most of us at Madison Real Estate and Property Management, Inc. have lost a pet and we know how devastating a loss of a pet can be. The terms and conditions of the rental agreement continue unchanged until it is renewed.
I’m going out of town and won’t be back until after the 5th. Can I make arrangements to pay my rent upon my return? If not, what do I do?
Rent is due on the 1st and late fees are accrued for all rents received after 4pm on the 4th day of each month. To avoid late fees, you should pay your rent before leaving, but if you can’t, please do contact us and let us know when rent will be paid so that we know and don’t serve an eviction notice.
Is the owner allowed to sell this house?
The property owners can decide to sell the house at anytime. However, state laws would require the new owner to honor your lease agreement with Madison Real Estate and Property Management, Inc. So typically, when an owner decides to sell, they do so near or after the current lease expires. This is yet another reason why we encourage tenants to take advantage of our renewal program.
What protection do I have that my rental won’t be foreclosed upon?
If the lender of any of our client’s properties initiates the foreclosure procedures, they will do so by posting a note on the property. If any such notice or communication is ever posted on the property, it is imperative that the tenants notify us immediately, as we will most likely be unaware.
Additionally, a foreclosure can take months to years to complete. So, for the most part, Madison Real Estate and Property Management, Inc. and the tenants just continue on like nothing ever happened. And lastly, congress passed the Protection of Tenants at Foreclosure Act that provides protection to tenants still in leases should the property actually get foreclosed upon.
If the property goes into foreclosure, do I still have to pay my rent?
Yes. Per Madison Real Estate and Property Management, Inc.’s management agreement, we are required to collect rents as the agent of the owner, until the property is no longer the owners’. Per the rental agreement, the tenant is required to pay rent until the term of the lease is fulfilled.
We have ants/roaches/spiders or other pests.
Per your rental agreement, treatment of household pests is the tenant’s responsibility. One way to minimize the possibility of pests is to keep a tidy home. Homes that are not so tidy, offer a food source as well as shelter for many pests. So if you discover any pests, your first step would be to do a thorough cleaning of the entire home. This eliminates the food source.
If the problem continues, most grocery or hardware stores carry traps and sprays that should resolve your problem in a few days. We find that ant traps can solve the problem in just a few days. These traps are filled with poisoned bait. The reason the ants are in your house is because they found food. The ant trap baits them, then they take the poisoned food back to the nest and they die. Some of the sprays are very good for spiders, roaches, and bed bugs. If the problem continues, please feel free to contact us. We’ll have to do an inspection to make sure that the home is tidy and see what remedies you had already tried and failed with.
Madison Realty has helped keep my family and I in a home for more than 5 years. When we had to move due to the rental being sold, Pam Dibble was there every step of the way, as Madisons lead representative. I am more than happy to recommend this realty company to any individual.
What People Are Saying About Us
Want to Learn More?
If you’d like to learn more about our properties and what it’s like to work with Madison RE & PM, get in touch. We’d be happy to talk more about our rental properties, our application requirements, and our leasing process.