Knox FAQs

How can I afford to buy a new home and keep my old house as an investment property?

Knox is a fintech company. We’ve combined data and technology with a unique mortgage we call a KEAP loan. KEAP is an acronym that stands for the Knox Equity Access Program.

KEAP loans turn your home equity into cash for your down payment, repairs, moving expenses, you name it, even before you move out. You get cash now. When you move out, your home comes onto the Knox platform and we turn it into a smart financial asset. To learn more about KEAP and other loan products, click here.

Can an investment property really beat the stock market?

Absolutely. Knox conducted a market study leveraging publicly available data from the Case-Schiller index of national home prices and historical performance of the S&P 500. The data show that an investment in a Knox property in 1998 would net a 369% greater return than the same investment made in the S&P 500. Download the full study here.

Is Knox a property management company?

Yes and no. The Knox platform does include everything you get from an old school property manager and about 100 other things too!

How long will it take to get my property rented?

While each market is different, we find that the entire process may take 4-8 weeks. History shows that rushing the process leads to high turnover and lower rental rates.

Do I have to chase rent payments? What if a tenant pays late?

You’ll never have to chase a rent payment. Knox takes care of this for you. In fact, we collect all rent electronically and automatically. So, late payments are minimized.

If steady income is important to you, we can offer you a guaranteed lease! To learn more about how these work, speak with a member of the Knox team!

What happens if the property is not rented right away?

Rental markets are seasonal, to be sure. During the time between when you sign up for the Knox platform and when the first tenant moves in, you’ll continue to pay the bills and maintain the home.

What other costs might I incur once my property is enrolled in the Knox Platform?

All properties have carrying costs. Taxes, insurance, mortgage, condo fees, etc. You would incur these costs whether your home is on the Knox Platform or not. We simply manage the payment of these costs on your behalf.

Maintenance costs are the main expense beyond recurring costs. All costs are managed and paid on your behalf by Knox from your reserve account. Importantly, Knox never marks up maintenance fees.

When I sign up, am I locked in forever?

We require an initial commitment of 1 year. After that, you can take your property off of the Knox Platform by giving us 6 months notice before the end of the then-current lease. If you break your agreement, for any reason, before the end of the term, a cancellation fee will be applied equal to the balance of success fees owed.

What happens when there’s a problem with my property?

The tenant will contact Knox and our team will respond quickly. We’ll assess the issue, start a request in our system, and assign an appropriate maintenance provider to the issue. We’ll coordinate with the contractor and the tenant so that they can gain access to the home at a convenient time and fix the problem.

How is rent collected?

We collect rent automatically by ACH.

How is net rental income transferred to the owner?

Net profit (after all expenses are paid on your behalf ) is posted to your account via ACH after the close of the quarter.

How do security deposits work?

Security deposits are held in a separate account and, in fact, by a 3rd party. Tenants like this since it’s an extra layer of protection for them. We ensure compliance with all regulations and requirements as well.

How do showings work? How much notice would we have to vacate the property?

We handle all showings and will coordinate with you, giving you ample notice before each appointment. We generally aim for least 24 hours prior notice. We also ask you to let us know, generally, when you’ll be out of the property (such as when you’re at work during the day) and aim to show at times that are least disruptive to you. This isn’t always 100% achievable, but we do our best.

How do your listings work? Do you cross-list on other sites or only Knox’s website?

We market on 1000’s of websites. Most of our listings are rented in 20 days or less. Some take longer. This is usually a factor of when they’re listed. Ex. If a unit comes on the market in November, it is more challenging to find a tenant than if a unit comes on the market in May.

How do renewals work?

We begin contacting the tenant about renewing 120 days before the end of the lease. We inform them of the new rate and give them an easy interface through which to renew their lease. You’ll see a lease once the tenant has agreed to the new lease rate and terms.

In the event that a renter stops paying, what is the eviction process like?

We have a very strict process that follows each state’s laws and timelines.

How/when will I be notified about maintenance issues?

You will be notified whenever the cost of a maintenance request exceeds $1,000. After hours calls, when judged to be an emergency, are responded to within 2 hours. All maintenance requests are entered into our ticketing system. All maintenance requests will appear on your quarterly statement including the date, nature of the issue, as well as the cost.

How is damage to the property handled?

If the tenant has caused damage (vs normal wear or end of life replacement) then the cost of the repair will be deducted from the tenant’s security deposit. Sometimes tenants offer to pay for certain maintenance items, accepting responsibility and paying for repairs overseen by Knox.

How do you deal with requirements of our HOA/condo association?

We incorporate the HOA bylaws into the lease, therefore the tenants are bound to abide by them.

As you are the owner of the property and the member of the HOA, you are responsible for attending HOA meetings and your other HOA membership responsibilities.

What contact would I have with the tenant?

None. We take care of all communications with the tenant.

Does Knox have a referral program?

We love referrals. We’ll credit you $500 for anyone you refer who signs up for the Knox platform. Share info about Knox with a friend, parent, or even someone you just met and let us know their name, and we will credit your account. Click here to learn more.

If we decide to sell the property, how much notice is required for you and the tenant?

If you decide to sell, you would normally sell with the tenant in the property and our agreement transfers with the property to the new owners. Your property is more valuable rented than unrented.

If we decide to end our relationship with Knox, how much notice is required, and what does that entail?

You give us 6 months’ notice before the end of the then-current lease. We will inform the tenant that we will not be renewing their lease. We’ll make sure they move out. Then, the complete contents of your reserve account will be deposited into your bank account.

How does Knox find me the right insurance policy for my investment?

We shop your insurance needs to a network of carriers and find the best rate for your coverage needs.

Can a property owner maintain contact with the board and other unit owners in the association?

Yes. You will still conduct your condo association or HOA responsibilities.

Can a representative of a condo property manager enter property?

Yes. They can call or email Knox and coordinate a visit via our property operations team.