Property Owners

Landlord Information

When property owners call inquiring about property management, the questions we are usually asked are: “What do you do?” “How much do you charge?” “Do you manage the type of property I have?” “How do I get started?”

Getting right to the point, here are the answers.

What do you do?

We basically take on all of the functions of the landlord for your property.

Typically the process includes:

1 – We inspect your property. We can meet with the owner or owner’s representative, or if no one is available to meet us and access can be made available to the property, we will make a summary sheet and take property photos for later review by phone, mail or internet conference with the owner. The property does not have to be vacant.

2 – We suggest possible repairs to make the property rent ready if any are needed. We make sure the property meets State standards. We have contractors who can provide bids if needed. They are independent contractors, not “in house” or a division of Cornerstone. In other words, we make no profit from their work, and there is no conflict of interest. We have no maintenance oversight fee. They offer fair prices, quality work, done in a timely manner. Or, if you have maintenance people you want us to use, or perhaps you want to do some types of maintenance yourself, we will do everything we can to make that work too. Click the, Maintenance, tab above under, For Landlords, for more details.

3 – We can help determine rental value. We rent a lot of property. We constantly monitor the rental market. Our knowledge will help set the rental market value with the owner. The ultimate asking price, however, is the owner’s decision.

4 – We go over the Management Agreement and answer questions. Our agreement is direct and to the point. Unlike most Management Agreements, it is not a long term contract. If the owner’s situation changes and you want to sell, move back in, or make other changes, you don’t have to buy out our contract.

5 – We advertise the property including:

• On our website – where we average 350 unique visitors per day.
• On multiple 3rd party websites like Zillow and Trulia
• A professional “For Rent” sign on the property.
• On Google Adwords.

No one does a better job of exposing the property to the market. Click Here for more details

6 – We schedule appoints with and show the property to prospective tenants so you don’t have to.

7 – We screen the applicants, including, but not limited to, a credit report, residency verification, and employment verification. They need to look good on paper and more.

We look for a tenant who can afford the rent, has a good payment history, who appreciates your property, and who appears to be someone who will treat it with care and respect. When we have an applicant who fits these criteria we will contact the you to get your input on the applicant.

8 – We prepare a well documented Rental Agreement. We meet with the tenant and carefully go over the contract with them. We want our relationship with the tenant positive and professional.

9 – After the tenant moves in our service includes rent collection, enforcement of rent collection,  all tenant contact, overseeing property maintenance, inspections, and bill payments, and other landlord duties. In addition to monthly statements, we provide a year end statement and an annual property profile. Click Here to learn more about our Monthly Statements.

We keep you up to date regarding your property, any major issues, and get your approval for maintenance done over an agreed upon dollar amount, but you don’t have to deal with the tenants directly.

What if your tenant doesn’t pay the rent and eviction becomes necessary? While seldom necessary, we have years of experience with the eviction process. Often with new management clients that’s our first order of business, property owners who currently have a tenant who has to be evicted. We work hard to make the eviction process as efficient and expeditious as possible.

What if you already have a tenant? We will inspect your property, meet the tenants, go over your paperwork, make any recommendations, step in and take over management. In this instance we do not charge vacancy fill fee because there are already tenants in the property.

How much do you charge?

We charge a variable percentage of the property’s rent. Our fee varies with the type of property and property’s rent. The range is between 5% and 8%. For most single family homes it is 6%. We also have a charge to fill a vacancy. This charge is equal to half of one month’s rent. Those are our only charges and we have no hidden fees of any kind. You pay nothing in advance. We are paid only through the money we collect from the tenant. Click Here for more information on our fees.

What type of properties do you manage and what is you service area?

We manage residential properties ranging from single family homes, condos, duplex, triplex and small multiple unit buildings. Our largest account was a 232 unit apartment complex, but our specialty is single family homes and small complexes. We are located in La Verne, California. To best serve you and your property properly we need your property to be within a reasonable distance of our office, usually no more than a 1/2 hour drive.

We do manage many properties with HOA’s, but we do not manage entire HOA complexes.

We generally do not manage commercial properties.

How do I start?

Call 909/596-9488, or send an email to Rentals@CornerstonePropertyMgmt.com. We can answer your questions or set an initial appointment. To give you the most complete answers possible, in most instances, you will meet or speak with the company owner, not simply a company representative.

Note: We are a Property Management company. We operate under a Real Estate broker’s license dre00622324. We can represent owners who in the future decide to sell, or we can work with an agent of their choice. (Many management companies have agreements that lock the owner into only working with them. Our contract does not.)