Knox Financial for landlords. Learn more
Being a landlord is no walk in the park. Owning an investment property is a huge responsibility – which doesn’t make the lives of current landlords any easier. It also stands as a major deterrent for people thinking about converting their home into an income property.
Knox Financial’s innovative solutions are making income property ownership more accessible than ever before. Knox cultivates an easy, safe, and secure experience – all while solving key landlord pain points. Here’s how:
The Management Dilemma, Solved
Problem: Managing an income property requires a lot of work – and, if you’re looking for a hands-free investment avenue, you can’t be managing the property without help. But, outsourcing management is expensive, and owners will quickly find that the management expenses eat up their investment’s profit margins. When you take the traditional approach of hiring a management company, you’ll become subject to high fees, additional charges, and surprise expenses.
Solution: These worries become nullified with Knox. Knox Financial takes care of all of the property management responsibilities – and much more – without ever charging additional fees. Knox only charges a fixed percentage of the rent collected (did we mention we do that, too?), helping you to take care of your investment without cutting into your gains.
Rent Collections Made Smart and Easy
Problem: It’s hard to collect rent – especially during these unprecedented times. Landlords are known for having to chase after rent when collection period rolls around. Additionally, it’s difficult for new landlords to know how much they should be charging in the first place. While rent is the core of income property revenue, this pain-point remains persistent.
Solution: Since Knox electronically bills the tenant’s accounts, late payments are a rarity. That said, you’ll never have to chase after your money. We collect the rent for you and automate the entire process. Every quarter, landlords get a deposit straight into their bank accounts. And, as the property appreciates in value over time, those pay-outs continue to grow. Knox keeps up with the market and balances rent rates to make sure that you’re getting the profits you deserve.
Finding Great Tenants
Problem: Finding good and responsible tenants is a struggle. Tenant turnover is always a headache. Landlords oftentimes need support in marketing the listing, showing the home, and then carrying on with the leasing process. But, there are enough nightmarish stories about negligible tenants to know that it doesn’t always go well. These situations result in a weakened investment asset since the wrong tenant can disrupt revenue and damage the property – all of which create big issues for landlords.
Solution: From prospect to resident, Knox handles all of the tenant relations. Renting, property listing and marketing, prospect screening, leasing and legal, and all communications are taken care of by our diligent team. We’ll even handle evictions, if necessary.
Paying the Bills
Problem: Keeping a property’s finances organized requires a lot of work. For property owners who handle management tasks, expenses are always coming up – so staying abreast and keeping a record of every little thing isn’t simple. Landlords who outsource management may not be involved in any or all of the direct finances, so there will always be grey areas when handling bills and taxes. When things are spread around, it’s unlikely that the deposits and withdrawals will always align. No matter which way you approach it, paying the bills is a standing pain-point for income property owners at large.
Solution: Knox takes care of all the books. We pay all the bills and expenses as they come up, including mortgage payments, taxes, insurance, fees, and so on. Landlords can always depend on their bills being paid on time, every time. At the end of the year, we’ll send you a 1099 so it’s easy to file your taxes correctly – including every deduction you deserve.
Problem: All landlords need to have rental insurance, but not all policies are the same. Making sure that you have the right protection and ensuring that you’re not overpaying requires immense due diligence. Most landlords end up taking out a policy that isn’t right for them, which inevitably reduces the efficiency of their rental operations.
Solution: Knox never leaves you guessing about your insurance policy. We find you the best insurance policy to fit your needs. And, if you already have an existing policy taken out, we make sure it’s the right one. If not, we’ll make the switch for you. We even bundle your policies to save our clients money. For additional security, Knox also requires that every tenant has a renter’s insurance policy.
To rephrase our opening statement, being a landlord is no walk in the park – unless you’re working with Knox Financial. We’ll always treat your home like the valuable investment it is. To learn more, visit our website.