Frequently Asked Questions

 

  •         How far in advance do I need to contact Globe Trotter to receive services?

-          We can assist you immediately.  After an initial in-home consultation where we will gather information about your needs, preferences, and timeline, we can begin managing your property.  To take advantage of our tenant location services, we generally recommend contacting us at least 8-12 weeks before you need to place a tenant.  Of course, we can work on short notice as well – and have had great success in placing high-quality tenants very quickly.

 

  •         Do you offer online payment for tenants and owners?  How do I receive my monthly rent payment?

-          Absolutely.  We centralize all of our payment systems.  We use Rent Post Inc. to collect all monthly rent from tenants, and we submit rental income to clients using direct deposit.  We also provide all tenants and clients with access to Rent Post Inc. to create personalized portfolios.  You can use these to track income and expenses, work orders, and verify your tax information.

 

  •         How much money should a tenant make in order to rent a certain home?

-          In general, tenants should not be paying more than 40% of their annual gross income in annual rental payments.  While this number is generally accepted as the upper limit of the spectrum (some advocates prefer 25-30%), the stability of the DC job market provides some flexibility in this regard.

 

  •          What kind of insurance should I get for my home?

-          Homeowners should retain a landlord policy (also known as a fire policy) for a single family house or townhouse.  Condo owners should request a walls-in policy.  In addition to ensuring that you have adequate coverage to replace your home, we suggest you look at flood insurance as applicable.  Finally, we strongly recommend that all clients purchase business income loss insurance to cover your lost rental income in the event of a fire or other loss.  

 

  •         How do you locate a tenant for me?

-          We advertise on over 30 websites, including some restricted access websites.  This breadth ensures that we are covering the target market for your home completely.  Once we have completed the open house and/or individual home showings, we carefully review each applicant’s background.  This includes a security and credit background search conducted by our partner firm, Securicheck LLC.  Taking into account the results of our investigation and your personal preferences, we select the client that will be the best fit for you.

 

  •     What should I do to my home before I market it?

-          To put your best foot forward, a clean and uncluttered home is essential.  We recommend hiring a professional to polish every nook and cranny, with particular focus on high value areas: the kitchen, bathrooms, and bedrooms.  We also recommend professional HVAC, furnace, and chimney cleaning (as necessary).  Certainly, we can contract these services for you if you don’t have a trusted contractor to rely on.