Whether you’re considering turning your existing home into an investment property or already have an active single-family portfolio, the ins and outs of income property management can seem overwhelming.
Outsourcing the duties to a traditional property management company has always been the go-to solution, but is that really the best way?
Knox is a cutting-edge alternative to traditional income property management that’s taking all the common pain points out of maintaining your investment and is putting the performance of your asset at the forefront.
Making Income Property Management Frictionless
Here’s a deeper look at how Knox is replacing the conventional property management model:
#1. Knox Puts the Full Focus on Asset Performance
Investing in real estate is always a great idea. But, when you hire a traditional property management company, you’re just another house on their to-do list. Most property management is either conducted by a handyman (who may lack expertise in rent collection, tenant engagement, bookkeeping, insurance, etc.) or a real estate company (that may be using less-than-qualified employees to provide lackluster handyman services).
Knox, on the other hand, specializes in caring for your asset’s performance. We take this business seriously, treating your property like the financial investment it is. And, this is more than words — our actions reflect that dedication.
In fact, our income property investments beat the S&P 500 by multiples — and we’d love to show you how.
#2. Knox Puts Transparency at the Forefront
When hiring any management service, you’re placing a high level of control in their hands – and abusing this power is at the root of too many commercial property woes. It’s not uncommon for us to hear stories from customers who experienced mark-ups on bills for service calls or who found out that bills were simply not being paid.
Knox takes pride in the responsibility we are granted and does everything possible to keep you informed, in-the-know, and up to speed. We put transparency at the forefront of every relationship.
- Knox isn’t marking up maintenance bills to make an extra buck.
- Knox handles the books on a separate reserve account so there is never any comingling of funds.
- We take care of the books so you don’t have to – helping owners balance cash flows and rates of return, ultimately helping to attain financial goals.
These and other safeguards are put in place to ensure you’re abreast of what’s happening with your asset — anytime.
#3. Knox Puts an Emphasis on Low Turnover
Knox is your greatest cheerleader. But, unfortunately, not all property managers bring this level of commitment and diligence to the table.
Traditional management providers tasked with finding tenants are often clouded by their own interests. Management companies charge owners one month’s rent to fill the unit, and they make this profit each time the unit turns over – regardless of the occupation period.
In the case that the rental agency is attached to the management company, negotiations involve initial fees that cut back on the unit’s rent rates. The boosted fee goes into their pocket and the subsequently-dwindled rent into yours. It boils down to your loss being their win.
With Knox, we handle the rental process as a part of our baseline. There are no added costs and we employ proven ROI-boosting marketing strategies alongside legal safeguards that significantly mitigate the risks.
In fact, our flat fee system makes us unique. Which brings us to our next point …
#4. Knox Puts More Skin in the Game
While most property management companies serve you with an onslaught of expenses, Knox only charges a flat fee. There’s no room for confusion and budgeting is easy. Plus, there’s no possibility of getting overcharged or blindsided by a self-interested management system – an issue that happens far too often.
Unlike traditional management providers, Knox isn’t making money unless you are — we’re putting skin in the game.
Your success is our success, and vice-versa.
#5. Knox Puts a Frictionless Model in Place
All in all, managing a property with Knox is stress-free, seamless, and without the frictions of a traditional model. It allows you to be a hands-off owner — collecting a check quarterly.
When it comes to maintenance, for example, Knox has strict protocols that ensure the best results for both property owners and their tenants.
While traditional providers reply at their leisure and charge a percentage on every repair, Knox responds 24/7, handles emergencies within 2 hours and all other issues within 48, and guarantees that there is never any mark-ups on repair costs – neither for parts or labor.
Owners can also sit back and relax when tax season rolls around. Knox makes filing annual taxes a breeze by delivering a faultless 1099 when the year ends, allowing you to deduct every last cent and upkeep an immaculate financial record.
Making the Most of Investment Property Management with Knox
Knox is going above and beyond, adopting winning strategies, and reconfiguring the way property management gets done every step of the way.
Don’t let your property be just one more home on a property manager’s to-do list. If you’re ready to learn more about how Knox is becoming a centerpiece in the property management field, we’d love to speak to you!