How will emergency repairs be handled?

We aim to keep tenants as comfortable as possible and to this end, we try to effect repairs very quickly. If the repair becomes needed during the middle of the month after we have deposited funds to the landlord’s account, we will pay for repairs up to a maximum of $500 and deduct this from rent receipts at the end of the month. If the repairs exceed this amount, we will normally request funds from the...

If my unit stays empty do I still pay your fee?

Generally no, unless it forms part of a larger contract with several units (ie an apartment building). We try to fill vacancies quickly, but we do not charge fees during the intervening period. However, there are instances where landlords take this opportunity to do renovations or remedial works, etc. If we are called on to manage this work, pay contractors etc, we may charge a fee depending on the...

What if My Property Needs Repair before Managing?

We will undertake to complete the repairs or cleaning necessary to bring your property to move-in readiness. This may entail, selling any surplus furniture or appliances; cleaning; painting or other interior work; plumbing and electrical; cleaning or clearing of an overgrown yard; roof or ceiling work etc. We will negotiate a nominal one-time fee for these works usually based on the total cost of the...

Do I have to rent my property to smokers?

We strongly encourage a non-smoking policy for rental properties. Cigarette smoke tends to linger for a long time and may make your property less attractive to future non-smoking tenants. Legally we cannot say no to smokers, but it is legal to say ‘No Smoking’ in this...

How will my property be kept clean?

CornerStone will arrange for all cleaning prior to move-in and after move-out. While the property is being leased, the tenants are responsible for keeping the property clean and for general yard maintenance. In some instances CornerStone will undertake to manage the yard...

What can I do if the tenant leaves before the lease expires?

Our Tenancy Agreement sets out the penalties (deductions) in place for breaking the lease so tenants are aware beforehand of our position on this matter. If there is a mutual agreement between Landlord and Tenant then these penalties may be relaxed or waived. Other than legal redress there is no other course of action for the landlord or property manager. NOTE: Cornerstone carefully screens all...

What is the Cost to Manage my Property?

Cornerstone charges the industry standard of 10% of monthly rent receipts to manage a single-family home, condo, apartment, etc located in Trinidad (units in Tobago will cost a bit more due to additional transportation costs). There are no additional fees, ever. For multi-unit properties, we can negotiate our fee. You pay nothing when your property is vacant. This means we actively fill properties with...

What services will I receive?

Cornerstone will handle all advertising of the property if it is vacant when we commence the management contract. We will perform background checks and where possible, check into previous rental history and to see if the applicant is employed and able to meet the rental commitment. For existing tenants we will ensure their current tenant agreement is being followed or execute a new agreement; On...

What will you collect from the tenants before they move in?

Prior to move-in the tenant(s) must provide the first month’s rent and a security deposit equal to the value of one month’s rent. Additionally prospects will be required to complete and submit our confidential online Tenant Application Form which collects information in real time about the tenant including employment and income details, character references and more. Landlords will be sent all the...

When will I receive my rental income?

Rent is due on or before the 1st of every month regardless of the date the lease is signed by the tenant. All checks and monthly statements will be sent to the property owner’s account and copies provided online in the landlord’s secure portal on the Cornerstone website, usually before the 10th of each month. We will also transfer funds directly into any stated local bank account as required by the...

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