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Property Management Q&A: Your Essential Questions Answered

Here are the answers to the most common questions we receive.

In our line of work, we often get asked various questions by owners of investment properties when they’re considering a property management company. Today, we would like to introduce you to our colleague, Kristi Cote from Tru Asset Management! She’s here to answer all your burning questions about this topic:

1. How do we screen applicants? We thoroughly screen applicants by checking their credit history, criminal background, rental history, verifying their income, and conducting a national eviction check.

2. What are our fees? Our monthly management fee is 10%, the leasing fee is half of one month’s rent, and the renewal fee is 10% of one month’s rent.

3. What services do we provide for the management fee? We treat your investment property like your own small business and offer a range of services to ensure its well-being. For instance, we employ a third-party assessment company to evaluate the property, conduct regular filter checks, and oversee repairs when necessary.

4. How long have we been in business? Our company has been successfully managing properties for about 20 years, led by our experienced and licensed team.

5. How does insurance coverage change with an investment property? Owners need to notify their insurance agent when converting their property into an investment or rental property. Insurance coverage may change, and premiums may be adjusted accordingly.

“We’ve been in business for over 20 years.”

6. Do tenants need renters insurance? Yes, we require tenants to have renters insurance and provide proof of coverage before gaining access to any of our properties.

7. What is our marketing strategy? We market properties on about 22 different platforms, including SABOR, Zillow, For Rent, Apartments.com, and social media. Additionally, being brokered through Keller Williams City View allows us access to a wide network of agents for further marketing.

8. What kind of reporting do we provide to owners? Owners have access to a portal where they can view rental income, maintenance costs, and receive a comprehensive year-end report for tax purposes.

We hope this information helps you in your search for a property management company. If you’d like more detailed information on these topics, call or email us, or check out our website.

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