CB Properties is an investor-focused property management company that provides the in-house property management services for Memphis Turnkey. Our number 1 goal is to make YOUR property profitable. We do this through a proven system of tenant placement and property management techniques designed to find and keep the most qualified tenants.
We are investors ourselves and we understand the importance of KEEPING THE PROPERTY RENTED and producing consistent CASH FLOW. There are considerable advantages to having professional property managers who are real estate investors themselves. The main advantage being that we understand the feeling of a vacant property (no income, high maintenance bills, risk of theft and vandalism, overhead, etc.) and the sense of urgency that comes with filling a vacant property quickly. This is why we manage each property as if it were our own.
We strive to keep the monthly cash flows consistently high for our investors through the relationships we’ve developed and cultivated with our vendors. We continually review maintenance bills to make sure our vendor billing is accurate and fairly-priced based on the high volume of work we give them. Further, our in-house professional leasing agents use innovative marketing techniques to get properties rented fast and our background check programs ensure we are renting to the most-qualified applicants.
Other features of our Investor-Focused Property Management services include:
We are a company who understands the needs of investors (95% of our clients are investors) and we will go the extra mile to make sure YOUR PROPERTY yields the best returns possible for you!
We charge 8% of the monthly rent. If the house is vacant, the 8% charge is not incurred.
Unlike some Property Management Companies who leverage their business volume to mark up maintenance bills anywhere from 50 – 100%, we simply charge a 15% maintenance fee over repair cost. For example, if our plumber charges $75.00 for a service call, you’ll see a deduction from your rent collection for that service call in the amount of $86.25. The 15% maintenance is to cover cost such as carrying our investors cost, workers compensation and property management trip charges. Realizing most of our clients are out-of-state and out-of-country, we provide the original copy of the invoice as backup and peace of mind that costs are being watched closely.
75% of the first month’s rent collection or $750 (whichever one is greater), but not to exceed the total rent collection of the first month. The tenant placement fee is waived for the first month, since we are offering investors a turnkey property with cash flow from day 1.[/spoiler]
$125 for 1 year lease renewal. $250 for 2 year lease renewal.
We pay our investors on the 5th of the following month. We can either mail you a check or direct deposit your rent payments at no additional charge to your account.
We handle all maintenance expenses throughout the month (which are deducted from the rents received). If expenses exceed $400- we typically get owner approval as outlined in our property management agreement. The exception to this rule applies in cases of emergency, such as an air conditioner going out in the middle of summer or a furnace going out in the middle of winter. Then we will act accordingly to preserve the tenant.
Please don’t hesitate to call our email us if you have further questions.