In this post I wanted to give some further insight into what rental property owners can expect when hiring Capital Street Management to manage their rental properties. Taking a closer look at how our services work, these are some answers to a few questions that you may have as a rental property owner in regards to communication and finances.
Question 1: Do you provide a monthly statement?
Answer: Yes, we do provide monthly statements. As an owner you’ll have access to an online portal where you’ll be able to go in and check the income and expenses for each of your properties at any time.
Question 2: Do you establish a threshold dollar amount on repairs above which you always call the owner? If so, what is that dollar amount?
Answer: Yes, during the on-boarding process, as an owner you will the ability to set a repair limit. Any repair needed under that threshold will be taken care of without notifying you. Vice versa, we will contact you before making any repair needed that will be above that limit.
Question 3: Can I cancel my contract with you if I’m unsatisfied and how long are your contracts?
Answer: Our management agreements are generally for 18 months. In a worst case scenario, if you doo feel the need to cancel our agreement you have the ability to do so with a 60 day notice.
Question 4: How do you determine market rent values?
Answer: To determine market rents, we’ll research the MLS and all other public websites where local properties are listed for rent. We’ll search for comparable properties that are currently listed and properties that were rented within the past 12 months.
Question 5: What forms of payment are accepted by tenants?
Answer: All tenants have access to an online portal where they can go in and pay their rent online. If you’re a platinum level clients we also have the ability to accept cash payments from your tenants as well.
These are answers to 5 questions in regards to what you can expect when working with Capital Street Management. If you have any other questions in regards to our services or how we can help you please give us a call or fill out the contact for here.
