Frequently Asked Questions
Check Out Some of Our Owners Most Frequently Asked Questions
Vacancy & Leasing
CXA Management will send the resident an invoice for any damage. If the resident does not pay, CXA Management will send the resident to a third-party collection agency. You, the property owner, will need to cover the cost of damages above the security deposit to get all work completed.
We will list your property while occupied as coming soon. We will on rare occasions show the property while the resident is still occupying the residence.
The most common damages that residents are responsible for include cleaning, carpet cleaning, & painting.
Landlords cannot charge a resident for normal wear & tear.
If you are unsure about the difference, please reach out and a team member will gladly assist you!
We will list your property online when occupied as coming soon. We will be in constant contact with the current resident to make sure move out is done correctly and efficiently.
Our property managers will do the move out inspection to get an idea of what is needed to get the space ready for the next tenant.
Each time a resident moves out and prior to a new resident moving in, all exterior locks are changed. This will reduce your liability and will give the resident peace of mind.
CXA has strict qualifications that all tenants must qualify for in order to rent. You can review our rental guidelines here.
We will notify you by email when a lease has been fully executed. You will also be able to monitor your properties with our online owner portal.
Turnover expenses will be paid directly from the property’s operating account. If needed, the resident’s security deposit will be applied towards the property’s operating account for reimbursement of resident-responsible charges.
No. The security deposit covers any damages caused by the resident and their guests and to pay any outstanding administrative fees. The security deposit is processed by CXA Management according to State Law.
The standard CXA procedure is the resident must give 30 days notice, the procedure may change depending upon state law or leases signed prior to CXA management. If they do not give appropriate notice, they are rent responsible for the amount of time stated in the lease.
Absolutely, CXA Management abides by the National Fair Housing Act, the Fair Credit Act, and follows the same screening and application process for all properties and applicants.
A resident can put down a deposit to hold a property up to two weeks. If a resident would like to hold the property greater than two weeks, we will contact the owner for approval.
Yes. Residents must provide a copy of their renter’s insurance before CXA will give the resident access to the property.
Yes, CXA has complete ownership over application approvals. As a CXA client, you do not have to worry about reviewing and screening applications. CXA performs all of the heavy lifting for you. CXA abides by the federal Fair Housing Act when selecting applicants. By leaving the entire application process in our hands, it allows us to shield you from potential fair housing claims or lawsuits.
The Fair Credit Act prevents us from divulging personal information about any applicant, so we’re unfortunately unable to provide you this information.
CXA Management will hold the security deposit for the duration of the lease.
Rent & Residents
When you log into your owner portal, you will see a statements tab. There you will see your monthly statements that show the previous months collected rent payments.
Yes, it is your decision to allow pets at your property. We do though recommend that you allow pets as majority of renters own a pet. Pet friendly rentals also lease significantly faster than ones that do not allow pets.
We begin the renewal process 60 days prior to the lease expiration. We will keep you notified via email or phone of the status.
Please have them contact us to assist them with any maintenance or rent assistance. For liability reasons, we ask that owners cut all communications with the residents of their property.
Distributions & Reporting
We send out payments on the 15th of every month for rent collected in the first 10 days.
CXA management pays via wire or check. If you prefer to be paid by check, your payment will be sent out on the 15th.
On the 1st of every month, you will receive an owner’s statement which breaks down all of the rent income and expenses incurred from the previous month.
On the left side of the owners portal, there’s a transaction tab. In that tab, click “Make a Contribution” and follow the steps.
General Questions
Reserve funds are industry standard and allow CXA to operate your property more efficiently. Reserve funds are used if any expenses are incurred after we’ve distributed rent.
We generally require a minimum of $500 but can vary on the size of the property.
We will contact you to discuss all of the options available. CXA works with you to figure out the best solution.
The most efficient way of communication by emailing us at owners@cxamanagement.com. If it’s an emergency, you can reach us via phone.
Management Offboarding
- Canceling any applicable recurring and contract services (e.g. lawn care, snowplow, common area maintenance, pool service, etc.)
- Stopping mortgage, taxes, insurance, HOA payments
- Notifying residents of the upcoming transition and provide them with new PM information prior to the management termination date
- Discontinuing marketing efforts on vacant properties effective immediately
- Sending a link to a shared folder that will contain property and resident documents
- Coordinating the handoff of keys
- Requesting final invoicing for services rendered to date
- Completing the turn, if already in process and enough funds are present in the operating account (unless directed otherwise)
- Sending the security deposit to owner for resident move-out processing
- Turning on utilities, as applicable, and updating the mailing address for bills
- Establishing applicable recurring services (e.g. lawn care, snowplow, common area maintenance, pool service, etc.)
- Notifying housing authority of management change and provide necessary paperwork
- Setting up new payment method for mortgage, taxes, insurance, HOA
- Updating contact information with HOA
- Sending out communication to residents with new PM’s contact information and further direction on rent payments, service request submissions, etc.
- Processing statement of security deposit for the resident
CXA held security deposits will be transferred from the trust account to the operating account. The property owner will then be responsible for sending resident security deposit to the new Property Manager.
Potentially, yes. While our goal is to wrap everything up before distributing funds 30-45 days after cessation of management, certain situations may require further attention from the owner. Two example scenarios are listed below:
- If CXA receives any invoices for which the owner is responsible up to 60 days after the last day of management, CXA will forward them to the owner. The owner is responsible for ensuring all vendors, services, and providers have the correct contact information to avoid any delays in processing.
- If there are not enough funds to cover all final invoices and/or if there is an outstanding balance after the last day of management, CXA will send notifications to the owner requesting reimbursement within 4 business days of the determination of the final balance to avoid additional charges. If no payment is received, CXA will continue to contact the property owner in order to recover any money owed. CXA reserves all legal rights to recoup any outstanding funds, including the filing of liens and/or the pursuit of formal collections.