Repair Cost Deferral Program
Newton Realty is excited to offer our owners yet another exclusive program to the North Alabama market. Newton Realty is now offering a way for our owners to make necessary repairs to their rental homes while delaying the payments until the home is generating income! We call it our Repair Cost Deferral Program and it is an industry leading concept that no one else in our area is offering to its clients and yet another reason why working with Newton Realty is far superior to working with any other management companies out there.
How does it work?
It is really quite simple, if your home is in need of repairs to get it rent ready and marketable and you don’t have the funds to complete these repairs, Newton Realty will complete the repairs for you and you don’t have to pay until the home starts receiving rental income.
How long can I defer my payments?
You don’t pay anything until we start collecting rent. After that, we allow you to spread out your payments for up to 4 months!
How much extra does it cost?
We offer this as a service to our owners so they can get their homes rented more quickly. This of course benefits us because we don’t collect any vacancy charges so getting a home rented faster gets us paid more quickly also. We have found that when owners complete our list of recommended repairs, the homes get rented out much faster than homes in disrepair. For this service, we charge 10% – 20% of the total amount deferred depending on the repair cost.
Is there any out of pocket expenses?
If a home will require excessive material costs, Newton Realty may ask the owner to put a portion of the total cost of the job as a down payment.
Will I know the cost up front?
Absolutely! You will receive a written estimate of both labor and parts up front so you will know what the cost will be.
Do you complete the work yourself?
Newton Realty works with a variety of our own contractors including some of our own staff to complete the work on your home. This allows us to control not only the schedule but also the quality of the work that is completed.
Sound great how do I get started?
Contact us via our web form or you can always call us at 256-233-2800