Owner FAQs

Answers to Common Property Management Questions

Whether you're a first-time landlord, experienced rental property owner, or apartment investor, understanding how professional property management works is important.

Below are answers to some of the most common questions we receive regarding leasing, tenant screening, maintenance, financial reporting, owner payments, security deposits, and landlord responsibilities in Oregon and Washington.

General Service Questions

• When will I receive my rental income each month?

  Owner distributions are typically processed between the 15th and 20th of each month after rent payments have cleared our client trust account. In most months, owners receive their funds around the 15th, although bank holidays and payment processing times may occasionally affect timing.

• Will Sleep Sound work with my home warranty company?

  Home warranties are designed for homeowners, not tenants. The wait times and total repair times are often excessive. This can lead to rent concessions that cost owners money. Tenants may not renew if they have a bad maintenance experience. For these reasons home warranties are rarely utilized when maintenance issues arise.

Selling Your Property

• Should I sell my rental property while the tenant is still living there?

  We don’t recommend it. Selling a property with a tenant in place requires the seller to overcome multiple barriers. Common issues include;

  • Challenges scheduling tours which increases days on market
  • Controlling the condition of the property
  • Attracting buyers who want to close within a normal time frame
  • Tenant unhappiness

  In addition to this there may be laws impacting a landlord’s ability to sell the home.

• Can Sleep Sound help me sell my rental property?

  Yes we can. While we respect and do not interfere with existing broker relationships (a broker who referred someone to us), we regularly help our clients sell. We not only know the laws and the property, we have an existing relationship with the resident.

Owner Portal Questions

• How do I access my Owner Portal?

  Owners can visit our website for a link or an owner can find the link by searching for previous owner statements.

• What should I do if I forgot my Owner Portal password?

  Follow the “forgot password” instructions that can be found at the log-in screen.

Maintenance & Repairs

• When will I be notified about maintenance repairs?

  Sleep Sound notifies owners of any repairs greater than $500.00.

• When does Sleep Sound need owner approval before making a repair?

  Sleep Sound needs approval for any repair greater than $750.00 unless the situation becomes a habitability issue or an emergency.

Accounting Questions

• What is my owner reserve account?

  An account that holds reserve funds for your property. This allows Sleep Sound to pay for expenses in the event the rent for that month has already been distributed.

• Why am I being charged for Trash and Recycling?

  In the city of Portland the Landlord is required to pay for and provide trash and recycling services. In other cities it depends on the property and company that provides trash and recycling services.

• What is utility income on my owner statement?

  This income is usually generated from a utility bill back where a resident is reimbursing all or some of a utility bill. For example, if a property owner pays the water and sewer bill for a 4 unit property, it is common practice to divide the bill among the 4 units so the owner can be reimbursed.

Tenant & Lease Questions

• What happens if my tenant does not pay rent?

  Sleep Sound follows the legal process of sending the tenant a late notice. If the tenant does not pay within the notice period, then an eviction may be filed.

• What happens if a tenant breaks their lease agreement?

  The tenant will be responsible for damages. Depending on the rental agreement this may be actual damages or a flat fee. Sleep Sound will then re-rent the property at no cost to the owner.

• What happens if a tenant damages my property during tenancy?

  The tenant will be responsible for paying for any repairs related to the damage. Sleep Sound does not wait until the tenant vacates to address damages.

Leasing & Tenant Screening

• How does Sleep Sound screen rental applicants?

  One of Sleep Sound’s major differentiating factors is its criminal background check. Most companies only perform what’s called an “instant background check”

• How does Sleep Sound market my rental property?

  Properties are listed online on all the leading platforms, including, but not limited to Zillow, Trulia, Hotpads, and more. Sleep Sound also installs a “For Rent” sign at the property to generate local interest.

• What information can Sleep Sound share with me about rental applicants?

  Owners naturally want to know about the applicants. For Fair Housing reasons Sleep Sound does not share any information about the applicants during the screening process. Once a household is approved, Sleep Sound will provide limited information such as total members in the household.

Security Deposit Questions

• Who holds the tenant's security deposit?

  Sleep Sound holds all tenant deposits unless otherwise agreed. This ensures all parties can comply with state regulations for accounting and return of unclaimed funds.

• Does Sleep Sound earn interest on tenant security deposits?

  No. Security deposits are not in interest bearing accounts.

  In Washington State, the interest earned on deposits is disbursed to the state of Washington automatically.

• How is the security deposit amount determined?

  Security deposits are generally equal to 1 month's rent. In some instances the security deposit requirement can increase based on an applicant's credit or rental history. Increase can be 25%, 50%, or 100% to offset additional risk.

• Can a security deposit be used for repairs and maintenance between tenants?

  Not unless it is obvious that the damage was caused by the tenant. Ultimately the cost to turnover or prepare a property for market is a cost of ownership and paid by the owner. In the event the repair or damage was due to the tenant’s misuse or negligence (exceeding normal wear and tear), reimbursement for those expenses or damages will be made by withholding funds from the deposit. In the event the deposit does not cover all of the associated repairs or damages, or if no deposit is on file, the tenant will be charged and invoiced for the remaining balance to be paid upon receipt.

• When will I receive security deposit funds after a tenant moves out?

  It depends on the complexity of the move-out charges. In most cases funds will be distributed within 21 days of move-out.