Frequently Asked Owner Questions

  • Q: Am I required to make my property available to Section 8?

    A: If your rents are within the limits of Section 8 you cannot turn down a voucher.
  • Q: Are you licensed?

    A: Yes, LSS Property Management Group is licensed and insured in the state of North Dakota.
  • Q: Can I reach you after hours?

    A: Yes, we have 800 numbers that are answered 24/7. We also give owners the email and cell phones numbers of staff that they can use in case of emergencies.
  • Q: Can you put the money directly into my account?

    A: We are usually listed on the signature card and we do put all the funds, other than the security deposit funds, in one account.
  • Q: Do you sell real estate too?

    A: We do not have agents that sell real estate.
  • Q: How is rent collection handled?

    A: Rent is collected at the first of each month with reminders from both the main office staff and the local site manager.
  • Q: How long of a lease do you sign?

    A: Leases that are usually signed for one year, but can go as short as 6 months.
  • Q: How much security deposit do you charge the tenant?

    A: A security deposit is one month’s rent.
  • Q: How soon can you start managing my property?

    A: We usually ask that we have 30-45 days before we start managing a property so that we can set up the information in our software and get the bank accounts set up.
  • Q: What type of properties do you manage?

    A: We manage all types of properties - HUD, Rural Development, tax credit, market, essential workers, HIF, PRAC.
  • Q: What type of reports do I get and how often?

    A: We have an experienced financial team and great software that can generate almost any type of report. We will work with you to get you the information that you need.
  • Q: Who holds the tenant security deposit?

    A: Security deposits are held in a lending institution that earns interest; and are tracked for each tenant.