Q: Am I required to make my property available to Section 8?
A: In Connecticut, you cannot discriminate based on “Legal Source of Income”.
For this reason, if the rental rate is within the Section 8 voucher amount, you
cannot deny the applicant on these grounds. We encourage our owners to be
accepting of the Section 8 system. This system is a privilege to the tenants
and can be revoked if they do not pay their rent, cause damage to the property,
or cause disturbances to the property. This system also ensures that you get
your rent like clockwork.
Q: How do you feel about tenants with pets?
A: You have the right to discriminate against tenants with pets. With that said,
the statistics indicate that more than 50% of tenants have pets and this percentage
is growing each year. Excluding tenants because of a pet will cause your vacancy
rate to be higher and may cause your rent to be lower. For this reason, we like to
encourage owners to accept tenants with pets by providing free animal protection coverage.
Q: Are the employees of Ironclad Property Management licensed?
A: Yes. Our employees are licensed, allowing them to serve in all functions of property management.
We also require all new employees who will perform leasing services to get their real estate license
if they don’t already have it.
Q: Can you put the money directly into my account?
A: Yes. After signing our management agreement, we request bank information
from you so you receive ACH transactions monthly.
Q: Do I get to see the lease or sign it?
A: We spend significant time and legal expense on each lease to ensure it
protects you to the best of our ability. As your property manager, we sign the
lease on your behalf, upload it, and send it to you for your record.
Q: Do you sell real estate too?
A: Warren Buffet says, “The most dangerous distractions are the ones you love,
but that don't love you back.” Most property management companies love the idea
of also selling houses, but this distracts them from providing outstanding management services.
At Ironclad Property Management, our sole focus is on property management.
Q: How and when do I get my checks?
A: We send out owner payments on or before the 15th of the month
and after any additional rent is received from tenants.
Q: How is rent collection handled?
A: We recognize that making it easy for tenants to pay rent is critical
to successfully receiving rent. For this reason we offer the options of
check, money order, ACH transfer, credit card, and automated payment
processing at partner retailers. Tenants can pay online, send in by mail,
drop off money in our lock box, or deliver it to us by hand. As part of
our rent collection process, we reach out by email prior to rent being
late and by text, email, and phone after rent is late.
Q: How long of a lease do you sign?
A: For most tenants, a one year lease is offered. This allows us to determine
whether the tenants are taking care of your investment well. After a one year
lease term is complete, we allow for longer lease terms at the request of
the owner or tenant.
Q: How much security deposit do you charge the tenant?
A: For most tenants, one month security deposit is sufficient. However,
when a qualified applicant has questionable history, we may require a
second month’s security and/or a cosigner for occupancy.
Q: What is the process of transferring control of the property to Ironclad Property Management?
A: After you have decided to sign with us, we send you our management
agreement. After you sign this, we quickly work to onboard you, sending
W9, ACH and lead forms to sign. At this point, we ask for all lease
information, contact information (email and phone number) from the tenants
and ask for you to send us keys. That same day, we mail a letter and email
the rent collection and maintenance instructions to the tenants. Later in
the week, we follow up with the tenants to answer questions and to get
additional onboarding information. We also coordinate a time to perform an
initial (takeover) inspection.
Q: How long does it take for me to stop getting phone calls?
A: While the entire process from signing the management agreement to
completing the takeover inspection takes about two weeks, we are actively
managing the property once the tenants have the information they need to
pay rent and to request maintenance from us. Based on whether we have
email addresses or not, this time is generally between immediately and
Q: What type of properties do you manage?
A: We manage properties for investors, looking to treat their properties
like an investment. These can include any type of property; multi-family,
single family, apartment buildings, etc. If you are a homeowner who intends
to sell your house in the not-too-distant future or you plan to move back in,
we have partnered with a company that specializes in renting out your
home during these special circumstances.
Q: What type of reports do I get and how often?
A: We provide automated monthly and yearly reports to you at no extra cost.
The monthly reports summarize the income and expenses for each property.
The annual reports provide the yearly summary of income and expenses that
you can provide to your accountant, streamlining your tax preparation.
Q: Who holds the tenant security deposit?
A: In Connecticut there are a number of laws related to security deposits
and security deposit interest. For this reason, we hold the tenant security
deposits and abide by all applicable laws.