Owner FAQ

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Owner FAQ

Owner Frequently Asked Questions

Who do I contact if I have a question on my monthly statement?

Please contact us via email [email protected] or via phone 858-598-1111×1150 or your individual property manager.

What type of insurance do I need for my property?

You will need to have Landlord policy naming Utopia Management additional insured, additional interest or have a provision that covers the property manager. For additional questions, please email Kaitlin Carroll at [email protected] or call (858)-598-1111.

I have insurance through my HOA, why do I need a separate policy?

The HOA’s insurance covers items in your associations documents (Roof, exterior walls etc.) Each HOA is different with what it covers. A private Home Owner’s policy covers the interior contents of the property (cabinets, appliances etc.). A Landlord policy covers owners for many different issues including liability issues. For additional questions, please email Kaitlin Carroll at [email protected] or call (858)-598-1111.

Who retains the tenants security deposit?

The owner of the property retains the security deposit and is responsible for the return of the security deposit to the tenant, which may or may not be facilitated by Utopia Management. Utopia Management will usually keep a reserve amount in our trust account to cover issues that might arise on the property.

What is the vendor service fee and when is it charged?

The vendor service fee is a fee charged when Utopia’s maintenance department uses outside vendors to complete work on your property. Utopia uses its purchasing volume to get discounted rates when working with vendors. The Utopia Management’s rate can be up to 25% off what these vendors normally charge if you were to purchase these services direct.

How does Utopia Management handle repairs to my property?

Utopia Management is a general contractor and can handle most repair issues in your house with our own maintenance team . Some services are outsourced such as painting and cleaning. When you sign on with Utopia, your manager will discuss your specific maintenance needs and instructions.

What do I need to get Utopia Management to manage my property?

All Utopia needs to get started is a signed contract and a copy of your keys. Our management team will follow up later to get the rest of the needed information. You can sign up now by clicking here.

How do you decide what to charge a tenant for security deposit?

We normally ask for approximately one month’s rent.

What is a reserve? How is it funded and what is it used for?

Your account reserve is an amount of money that is held in Utopia Management’s trust account for issues that might arise on your property. The reserve account is typically funded by the initial payments made by the tenant. The reserve is kept so that owners don’t have to send emergency money to fund repairs or other issues on their property.

How do you determine what my property should rent for?

Utopia has a business development manager that will come out to your property to evaluate how much your property should rent for and what needs to be done to get the desired rent at no cost to you.

I am interested in selling my house. Can Utopia Management help me with the sale?

Utopia Management is a full service Real Estate company and can help with the valuation, sale and refinance of your property as well as property management.

Can you help refinance my property?

Utopia Lending, our affiliate company, is a full service mortgage brokerage and can help you with financing or refinancing your property in California.

If I leave the country, does Utopia Management have ability to manage my property?

Utopia Management currently manages property for owners living around the world. Utopia Management has many systems in place to help absentee owners get the information that they require. Click here to access your Owner Portal.

How long will it take my manager to call me back?

All calls are returned within 24 hours or by the next business day.

What documentation will I need to provide my manager?

If your property is located in a HOA, you will need to provide copies of the Rules and Regulations, a blank tenant registration form (if tenants are required to register.) The names of your HOA Manager, Management Company and telephone number. If you have vendors that work at the property, we will need a list of any and all contractual service items and/or vendors, including their representatives names and telephone numbers (e.g. laundry service provider, waste service provider, landscaper, pest control service contractor, Home Warranty or appliance warranty provider (s) etc.) If your property is currently rented, we will need a copy of all current rental agreements as well as any other relevant and pertinent documentation such as credit applications, correspondence, notices sent to tenants etc.

Why do I need to have Utopia Management named additionally insured or additional interest on my Landlord Policy?

Utopia requires its owners to name Utopia Management additional insured, additional interest or have language in the policy covering the property manager due to the great cost of litigation. Utopia Management is able to provide its service at competitive rates due in part to the owner’s Landlord policy being obligated to pick up coverage for all issues related to the property. Additional Insured mean’s that Utopia is notified should the policy be in danger of lapsing, this protects the property owner.

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