Investor's FAQ
We currently have over 1,700 units under management including Rhode Island and SE Massachusetts.
The average vacancy is under 5%.
All applicants fill out an application and we capture the following:
Income (two most recent pay stubs)
Employment history (in writing and verified from the employer via phone call)
Credit (we are authorized by Experian to run a full credit check) also captures:
- Debt load
- Lines of credit
- Criminal history
- Rental eviction history
- SS’n verification
- Address verification
- Landlord history (current and past) – phone calls made with screening questions
The above information is then inputted into a formula that assigns a value to each category and
produces a score based on 0-18. Based on the applicant’s score and other factors they are recommended for
tenancy to the owner using our resident summary report. Our broker will schedule a call to discuss the
applicant.
We capture pictures and walk-through videos of a rent-ready unit. The listing is uploaded on 50+ rental sites.
Our broker (who is licensed in RI/MA) handles all the showings. We do not hire a third party.
Unit turnover has a lot of variables based on the condition of the property. We have an in-house turnover crew handling all necessary painting/floors/counters/cabinets.
Maintenance (performed by Stonelink maintenance employees) is billed at an hourly rate.
Service calls are handled by our in-house (W2) employees unless it is deemed beyond our ability. If a licensed professional is needed, such as plumbing electrical, or major renovations, we have a network of reliable and reasonable vendors/contractors.
We have a 24/7/365 maintenance line for residents which is answered by our trained responders and residents can always speak with a live person. Residents can also enter a work order through their online portal. We utilize a work order system to classify the nature of the maintenance issue. Each work is assigned to one of three classifications (low priority/normal priority/urgent priority). Response time is as follows:
a. Low Priority – Handled in 24-48 hours
b. Normal Priority – Handled same business day unless it comes in at end of the day – then handled next
business day
c. Urgent Priority – Handled typically 1-2 hours
No. All basic maintenance calls and repairs are handled by our team of maintenance technicians.
This is covered in our Property Management agreement. Insurance liability coverage is carried by Stonelink in excess of two million dollars. Our insurance policies are varied and cover everything from general liability, fire/theft, property management activities, and more.
Yes. This is a substantial part of our business. It is very typical for our clients to be out of state. Our property management is full service, whereby Stonelink becomes the single point of contact for all property-related matters.
Stonelink does not own rental properties. However, the founders own a sister company which is a real estate investment company with holdings that consist of low-density multi-family residential properties in the greater Providence area, including Pawtucket, Central Falls, Providence, and South Providence.
You can meet our office team here. We also have 20 full time maintenance technicians.
Yes. A resident portal is available to pay rent and submit maintenance requests. A client portal is available to access statements.
You can review our complete pricing page here.
We adhere to RI state law concerning evictions. We have a separate process for MA. The process for RI is as follows:
Before the first of the month, the resident is sent a rent reminder which is due on the 1st
5th of the month resident is sent a second rent reminder – warning of a late fee to be assessed on the 6th
15th of the month resident is sent a final rent reminder – warning of 5 Day Demand letter to be sent
21st of the month (after consulting with client and receiving approval) – 5 Day Demand letter sent to our attorney
A court date is typically 10 business days following filing – We represent our client along with our attorney
The outcome of court proceedings determines the next steps.
Yes. We always provide clients with a copy of our Property Management Agreement for review. Our lease agreement was crafted for us by one of the top landlord attorneys in the state and our property management agreement was written by one of the foremost landlord attorneys in the nation.
1. An eviction dealing with a resident who had mental health issues
2. Power being cut on the street by National Grid due to meters being stolen off an occupied building
3. Death in the apartment due to health issues
4. Water is shut off to a family of 4 because the owner neglected to pay the bill and went sailing to
Bermuda
5. 12 units (fully occupied) where gas was shut off to the building 24 hours after our client closed on the
property
6. Fire in a six-unit building (no one injured)
7. Electrical fire in a partially occupied 3 family – property rendered uninhabitable
The list goes on and on because property management is all about problem-solving. The
aforementioned examples all have more backstory, but hopefully they give you an idea of some of the challenges we have
dealt with.
