Skip to main content

Owners and Sellers FAQ

I’d like to change where you send my payments. How do I do that?
You may update your banking information at any time through your Owner Portal.
My resident is vacating and they caused damage.

Resident damages are covered by their security deposit. We will conduct a move out inspection to assess the condition of the home compared to the condition when they moved in. Your Property Manager will contact you prior to the Move-Out with Expectations, and then once we have that inspection report back to see what you’d like to charge the resident for we’ll use the deposit for that. Should damages exceed the amount of their deposit, you’ll need to discuss that with your Property Manager.

There’s a maintenance issue at my home. How do I respond?

In the email you received about the work order there is a link to your online portal. In the portal, you’ll see the full description of the ticket as taken by us from the resident.

  • Choosing “Yes” will indicate to the Property Manager that you’d like us to send a trade to diagnose the issue and present a quote for the repair.
  • Choosing “No” will allow you yourself to move forward with handling or sending your own trade, in which case MH will sign off the Work Order on our end with you as the owner taking full responsibility for the ticket.
My agreement is ending soon/my resident is vacating and I want to sell. What are my options?

That’s great! As a nationwide brokerage that specializes in rental properties, we can position your property to the open market as well as to lists of investors. The renewal team will be in contact with you at least 90 days prior to the end of the resident’s lease. You can always reach out to discuss your options for listing your property. We can even sell your property mid-lease. We help owners get the most from their property and we can help you as well!

I want to take my property back. How do I do that?

If the time comes where you need to take it back we can help. Reach out to our main line to share your needs with us. If you are taking the home back with a tenant in place, there are multiple steps to ensuring the legal transfer of the security deposit and rental balance. If there is no tenant in place, and you are thinking of selling the property, check with our team. We would be delighted to list your property and even get it in front of lists of investors who desire rental properties. We may be able to save you time and money in the process. Before taking the home back, be sure to reach out and read the terms of your agreement for necessary information.

What happens if I get a showing request for my home?

You can respond to the email or text message you received from us on whether or not you’d like to approve the requested time. If it’s easier for you, you can also call our Client Services team to approve or request to reschedule the request as well.

Why haven’t I received a payment?

There are a few reasons you may not have received a payment this month. The most common reason your payment is not received is because the resident’s payment did not clear. You can check on the status of your resident’s payment through the owner portal. Other causes of payments not clearing are from unpaid expenses that totaled more than the rent payment, bank account information being changed, and documents not being completed. Please contact our Owner Services team at (800) 331-0646 if you are unable to determine a cause for the payment not clearing.

I got a payment, but the amount is incorrect.

Payment amounts may change based on the activity from the prior month related to service repairs or other expenses related to the management of your property. If a contribution was not made to pay an expense for the month, the rental payment will be reduced to cover these unpaid expenses. You can review your current activity and unpaid bills through the owner portal. Resident payments are applied to the earliest charges on their ledger, resulting in some portions of their payments being applied to fees owed to Marketplace Homes.  In this instance, your rental payment could be less than expected when the resident did not pay the entire balance.  Please contact our Client Services team at (800) 331-0646 if you are unable to determine a cause for the payment amount to differ.

Do homes listed by Marketplace Homes pay commissions to buyer agents?
Yes, homes listed by Marketplace Homes often pay commissions to buyer agents. With the recent changes implemented by the National Association of Realtors (NAR), we ensure full transparency and flexibility in our commission structures. Here’s what you can expect:
    • Commission Transparency: We provide clear details about the commission rates paid to buyer agents so you know exactly what is being offered. This transparency helps foster trust and ensures you are fully informed.
    • Negotiable Commissions: The new NAR guidelines encourage flexibility in commission negotiations. We are open to discussing and adjusting commission rates to meet the specific needs of both buyers and sellers, ensuring a fair and beneficial transaction for all parties involved.
How do the NAR rule changes affect commissions for home sellers?
The recent NAR rule changes bring greater transparency and flexibility to the commission structure for home sellers. Here’s how these changes impact you when selling with Marketplace Homes:
    • Clear Breakdown of Costs: We will provide a detailed breakdown of all commission-related costs upfront so you know exactly what to expect. This transparency helps you make informed decisions about your sale.
    • Flexible Commission Rates: The new guidelines promote negotiable commission rates. We are open to discussing and tailoring our commission structure to better suit your financial goals and needs, ensuring a mutually beneficial arrangement.
    • Enhanced Selling Services: We focus on transparency and will clearly outline our comprehensive services as your listing agent. This ensures you understand the value you receive from our services, from marketing your home to negotiating the best terms for your sale.
    • Our commitment is to provide exceptional service while adhering to the latest industry regulations. If you have any questions about how commissions are handled or need further details, please contact us at info@marketplacehomes.com.
What do homebuyers need to know about the new NAR rules?
Under the new NAR rules, homebuyers must have signed agreements with their agents. Here’s what you need to know when working with Marketplace Homes:
    • Signed Buyer Representation Agreements: To ensure clarity and mutual understanding, all homebuyers must sign a buyer representation agreement with their agent. This agreement outlines the services provided, the duration of the relationship, and the commission structure.
    • Commitment to Transparency: We will clearly explain the terms and conditions within the agreement, ensuring you understand your rights and obligations. This transparency helps build trust and ensures a smooth homebuying process.
    • Negotiable Terms: The agreement terms, including commission rates, are negotiable. We are open to discussing and adjusting these terms to meet your needs and expectations better.
    • Comprehensive Support: Our buyer agents are committed to exceptional service, from finding the perfect home to closing the deal. The signed agreement formalizes this commitment and ensures you receive the highest level of support throughout your homebuying journey.
    • Our goal is to provide you with a seamless and transparent experience. If you have any questions about the signed agreements or need further details, please contact us at info@marketplacehomes.com