Owner FAQs
Answers to your frequently asked questions
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Why should I choose The Prevailing Group to manage my property?
Our goal to Serve Connecticut’s Property Owners at the Highest Level. The pillars for success: Trust. Communication. Integrity. Continuous Improvement. Being vigilant project managers and tenacious problem solvers. Making a commitment to being of service and delivering results.
We understand the value of time and the importance of family. Having the right team to watch out for you, your home, your time and your hard-earned money can make all the difference in the world. It can create an investment that you’re happy with. Provide a life with less stress and more time for what really matters.
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Do I have to pay a management fee if my property is vacant?
No. We only get paid when you get paid. If we don’t collect the rent, or if the property is vacant, you don’t owe us anything. -
Are you licensed?
Yes. We are registered with the State of Connecticut, Department of Consumer Protection, as a Real Estate Broker, as required by Connecticut law. -
How often do you inspect my property?
We perform periodic inspections of each unit checking tenant responsibilities and liabilities, appliances, systems, and the general welfare of the property - both inside and outside. -
Can you provide me with a rent estimate?
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Do you manage Associations? (ex: HOA’s and COA’s)
No. We are completely focused on serving owners of residential properties. -
Can you put the money directly into my account?
Yes. We send our Owner’s their monthly distributions each month via direct deposit, typically by the 10th. -
Can you pay bills for me that are related to the property?
Yes, with the exception of Association dues, mortgage, insurance, and tax payments. -
Do you sell real estate too?
No. We are completely focused on residential property management. -
How much money should I set aside to ver expenses?
For smaller properties, you should set aside anywhere from $500 to $1,000 as a starting reserve (we will make recommendations based on your property), and expect maintenance, turnover and capital expenses. -
How much security deposit do you charge the tenant?
An amount equal to 1 or 2 month’s rent, depending on credit, as well as State of Connecticut laws. -
Do you provide a standard lease?
Yes. We use a custom lease prepared by us and reviewed by our legal counsel. -
What type of properties do you manage?
Single family homes, condos, townhouses, multi-family buildings, -
What type of reports do I get and how often?
We set up a property owner portal for each client. Owners can log into their portal at anytime, 24/7, and see real-time information about their investment including rent collected, expenses, various financial statements, as well as copies of all invoices and payments. -
Who holds the tenant security deposit?
We will receive security deposits from tenants and shall be the escrow agent for the account, in accordance with the provisions of § 47a-21 of the Connecticut General Statutes. We hold the financial responsibility of safeguarding the security deposits and ensure that those monies aren't commingled at any time.