Property Management - CB Properties

Getting Started With CB Properties

Whether your home is vacant, occupied, or with another manager, it’s easy for CB Properties to start managing your rental property.

The Property Management Process

Here's how our step-by-step process works:

First, you'll schedule a consultation to discuss your property, verify it is in our management zone, discuss how we operate, discuss our fee structure, and answer your questions.
Next, we'll send you a property management agreement via PandaDoc. After you sign and submit your documents, we can get to work and set up your portal.
If there is an existing resident in place, per our attorney, we will have them sign our lease, which will benefit you if we need to file an eviction.

We will inspect the property and suggest any necessary repairs if the home is vacant.
If you have another manager, we will work with that manager to get keys, leases, deposits, property statements, and resident contact information.

If you have any questions, you have a single dedicated point of contact in your investor relations manager to answer your questions.

What to Expect With CB Properties

Here’s a breakdown of our services and what you can expect when you partner with CB Properties.

Vacant Home Process

We’ll start marketing your home as soon as the current resident gives their 60-day notice.
Within 72 hours of the resident moving out, we’ll inspect the home, take pictures and videos, and provide an estimate of what it would take to make the home rent-ready.
Once you sign your property management agreement via PandaDoc and pay the necessary fees, we’ll complete the rent-ready process, typically within five days of signing.
When the property is ready, we’ll show it, screen applicants, and approve a qualified resident.
Upon approval, we’ll collect all required fees, schedule a move-in date, and sign the lease with your new resident in our office.
Finally, the resident will submit a move-in report that we’ll review when their lease ends.

Property Marketing

While most management companies wait until vacancy to list homes, we list your home when the resident gives their 60-day notice to maximize your exposure and decrease vacancy time.
We'll sync your home to all relevant listing sites, like Zillow and Trulia.
We'll place our CB Properties sign in your yard.
Our full-time, commission-based, in-house leasing agents are available throughout the process.
When it's beneficial for you, we utilize 3rd party leasing agencies.
A full-time leasing consultant will follow up on every lead that comes through our marketing efforts, either online or via phone message.
Self-showing boxes that allow 24-hour showing access.
Referrals for existing residents.

Resident Placement

We screen methodically to place a qualified individual who can afford your home. We underwrite residents based on the following:

Good job history
Provable income 3.5x the amount of rent
Criminal background and credit check
Verify the applicant is in good standing with their current landlord
Review of the past 12 months of payment
Applicants must be able to get utilities in their name
No prior evictions or FED filings within 3 years No active bankruptcy or have filed bankruptcy within the past 3 years

Rent Collection

Rent is due on the 1st and considered late after the 5th. We provide many convenient ways for our residents to pay, including:

Online via their portal
RentMoney is a service that allows residents to pay at kiosks in locations such as Wal-Mart, whose extended hours make it easier to pay rent on time

We collect our monthly management fee on the amount we collect from residents. We distribute rents to our investors via ACH (the preferred method) or a live check via USPS.

When we distribute your rent, you will receive a detailed statement clearly defining income and any charges that may have occurred. If you have any questions, your investor relations manager will be happy to assist you.

Maintenance

Our goal is to provide quality services to your residents while making the most of every dollar.

When the inevitable maintenance request comes in, we'll send it to you immediately via the property management system. This allows you to see every request and discuss questions or concerns with your investor relations manager.

By Tennessee law, we much complete all maintenance requests within 72 hours of receipt. We aim to provide complete transparency, so when a work order is completed, we'll upload the following to your portal:

The original vendor invoice with a complete scope of the work completed
Before and after pictures
Some vendors will utilize our credit lines at various suppliers—for those vendors, you will see the material invoice, too
If necessary, a comment in your portal from the investor relations manager discussing the repair details

Eviction Management

Evictions are unfortunate, but they do happen. On average, about 1% of resident placements result in a full-scale eviction. When a resident is not paying or communicating, we will file the eviction paperwork around the 15th of the month.

An eviction is an attempt to collect a debt, so if a resident pays that debt before the scheduled court date, the eviction may not be necessary.

If they haven't made a payment by the court date, the court will either require an initial payment and determine a plan for repayment of the debt or return possession of the home to the owner, and we'll move forward with the eviction.

Property Inspections

We provide an optional inspection at least twice a year to visit the home to take pictures, change filters, check mechanical units and smoke detectors, and send a full report to the owner.

This report can alert you to some items that may not necessarily need immediate attention but can be put on your radar to budget in the future. This is also an excellent way to verify the resident is taking care of your property.