Residential Guarantees
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30-Day
We guarantee to find a quality tenant for your rental property in less than 21 days, or we will waive the first month of management fees!
When it comes time to market your rental property, the last thing you want is to have your home unrented. Every day an investment property is vacant is a day of lost income. This is why we guarantee that we will find the right tenant for your home within 21 days, or you receive one month of management fees for free when the 30-Day Rental Guarantee is added to your property management or leasing agreement.
- The home must be vacant.
- The home must be ready for tenants; The 21 days begin from the day the home is move-in ready.
- The home must be pet-friendly and allow a maximum of 2 approved pets.
- 30-Day Rental Guarantee must be included in your Property Management Agreement.
- The rental price must be an amount agreed upon by both owner and PMI Puerto Rico.
Eviction
If a screened tenant placed by PMI ever has to be evicted, we handle the eviction process, including the costs or fees associated with eviction, up to $2,000.
We understand how frustrating it is when a tenant violates their lease agreement and the financial implications for property owners. It’s an unfortunate fact that some tenancies end in eviction. With PMI’s Eviction Guarantee, you don’t have to worry about the costs of eviction because when you subscribe to our Eviction Protection Plan, we not only handle the eviction process but we cover the legal costs or fees associated with the eviction, up to $2000.
How the Eviction Guarantee Works:
- Owner must subscribe to our Eviction Protection Plan in the Management Agreement.
- New tenants with leases signed after the Management Agreement is in place are immediately covered.
- Existing tenants with leases signed prior to Management Agreement are covered after seven months.
- The Program does not cover lost rent, move-out costs, or property damage.
- The Program does not cover the Owner for the Tenant’s Attorney fees, court-ordered fines, damages, or penalties.
- The Eviction Protection plan must be specifically subscribed to in your current Property Management Agreement.
*This is a summary of the terms of the Eviction Protection Plan. See your management agreement for exact terms.
On-Time Rent
When a tenant pays rent on time, we promise to have your owner’s payment in your account within ten business days. If not, we will give you back that month’s management fee.
Ensuring you get your money as soon as possible is part of our job and why we offer our On-Time-Rent Guarantee. This means we will get your payments to you by the 10th business day of the month when the tenant pays rent by the first of the month. If we can’t do this for you, we will pay back that month’s management fee.
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Happiness
If, for any reason, you are not completely happy with our services and want to leave us, you may cancel your property management agreement without penalty with 60 days notice.
The notice period allows for a smooth and professional transition for the tenant, wrap-up of any outstanding maintenance items and invoices, and assignment of the lease and security deposit funds properly to you so we transfer a happy tenant.
Our conditions for the Happiness Guarantee
- A 30-day notice is provided by the property owner, which allows us time to resolve any outstanding service issues and prepare accounts and files for transfer.
- All outstanding invoices have been paid to vendors.
- We want the cancellation process to go smoothly for you and your tenant.
Pet
Most property owners are unaware of the benefits of having a pet-friendly property and that their real estate investment can become more valuable when tenants are permitted to bring pets.
More high-quality applicants: Over 70% of renters are pet owners. Opening up your rental to most of the market significantly raises the number of applicants for a property.
Longer occupancy period: Renters with pets have longer tenancy periods, meaning less turnover and fewer related owner expenses.
Happier Tenants: Studies have shown that owning a pet can improve happiness, well-being, and health.
Increased rental rates: A property that allows pets rents at a higher cost. Not only does making your property pet-friendly increase the profitability of your investment, but you will likely end up with happier tenants overall, which makes life better for everyone.
Results
We don’t get paid until you get paid. With PMI, you will have peace of mind, knowing that we are working hard for you, and you will not need to pay us until you get results.
Property Management Service: That’s right. You don’t pay us anything until we produce results for you. At PMI, we don’t collect management service fees until a renter is moved in and rent is collected. We do all of the heavy lifting—market your home, schedule showings, screen applicants, draft the lease, and facilitate tenant move-in – all before being paid a dime.
Leasing Service: If we are leasing your property for you, we do all the work upfront, and you don’t pay us until you get a qualified tenant and they move into your property. That means we aggressively market and show your property, screen the tenants, handle all the paperwork, and perform a move-in inspection, all before we get paid anything.
PMI Transparency Disclosure – *The only exception is in cases of an owner’s contribution to pay for vendors to get a home “rent ready” in advance.
Leasing
You should never have to pay twice for us to find a new tenant for your property. Our leasing guarantee states that we will find a new tenant for free if a tenant does not fulfill at least nine months of a lease term.
The conditions for our Leasing Guarantee:
- We must have placed the tenants. This guarantee does not cover tenants we’ve taken over or inherited.
- The guarantee does not cover tenants who must break a lease due to military orders, military transfers, or any other legal lease cancellation.
- The guarantee does not cover tenants who have abided by the lease terms by paying appropriate lease-breaking fees.
