Understanding Your Role
At HomeNest, we handle the day-to-day complexities of rental management so you can enjoy passive income. However, successful property management is a partnership. This page outlines your key obligations to ensure legal compliance, financial stability, and property preservation.
All obligations listed below align with standard property management agreements and local real estate regulations. Specific terms may vary based on your signed management contract.
Insurance & Liability Coverage
Maintain adequate property insurance to protect your asset and meet legal requirements.
- Landlord property insurance (dwelling, structure, fixtures)
- Liability coverage for rental activities
- Optional: Loss of rent / fair rental value coverage
- Provide proof of insurance to HomeNest annually
Financial & Tax Responsibilities
Timely payment of property-related financial obligations to avoid penalties or liens.
- Property taxes and municipal assessments
- HOA/COA dues and special assessments
- Management fees (as per contract terms)
- Capital improvements & major system replacements
Property Condition & Major Repairs
Ensure the property remains habitable and structurally sound throughout the lease term.
- Initial condition meeting local housing codes
- Structural, roofing, plumbing, & electrical systems
- Major appliance replacements (if landlord-provided)
- Approval of repair work orders exceeding $500
Legal Compliance & Documentation
Adhere to federal, state, and local landlord-tenant laws and permit requirements.
- Valid rental/occupancy permits
- Fair Housing & anti-discrimination compliance
- Lead paint disclosure (pre-1978 properties)
- Security deposit handling per local law
Communication & Access
Maintain open lines of communication and provide timely decisions to avoid delays.
- Designated emergency contact (24/7 reachability)
- Respond to urgent work orders within 24 hours
- Grant property access for showings/inspections
- Approve/reject tenants within 48 hours of referral
Utilities & Services Setup
Ensure essential services are active and properly assigned before tenant move-in.
- Water, sewer, garbage, & electricity account setup
- Internet/cable coordination (if landlord-paid)
- Smart locks/entry system provisioning
- Landscaping & snow removal service contracts
Owner vs. HomeNest Responsibilities
| Responsibility Area | Property Owner | HomeNest Management |
|---|---|---|
| Tenant Screening & Placement | Approve final candidate | Marketing, applications, background/credit checks, recommendations |
| Lease Execution | Sign lease & authorize terms | Draft lease, schedule signing, collect deposits/first month |
| Rent Collection | Receive net funds monthly | Collect rent, issue receipts, pursue late payments/evictions |
| Maintenance & Repairs | Fund major repairs & capital projects | Handle minor repairs (<$500), coordinate vendors, routine inspections |
| Legal & Compliance | Property taxes, permits, insurance, HOA | Lease compliance, habitability standards, local rental regulations |
| Financial Reporting | Tax documentation & investment tracking | Monthly statements, expense tracking, annual summaries |
⚠️ Important Reminders
- All major repairs exceeding your pre-approved maintenance limit require explicit owner authorization before work begins.
- Failure to maintain adequate insurance or pay property taxes may result in suspended management services.
- HomeNest acts as your agent and cannot make binding financial commitments beyond the scope of your management agreement.
- Local rental laws vary significantly. We recommend consulting a real estate attorney for jurisdiction-specific compliance.
Questions About Your Obligations?
Our property management team is available to walk you through your specific responsibilities and help you stay fully compliant.
Contact Your Property Manager