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 and 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 Properties 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 receipts to manage a single family home, condo, apartment etc. 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 qualified tenants and follow up arrears quickly. Regarding maintenance, our tradespeople are skilled at...

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, check into previous rental history, and check to see if the applicant is employed; On the landlord’s behalf we will negotiate the rental agreement, collect rental fees and deposits, issue keys to the tenants and make sure the keys are returned once the...

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. Security deposits are refundable upon move-out unless repairs, painting or cleaning has to be done, in which case those costs are deducted from the refundable...

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 area of our website, on or before the 5th of each month. We will also transfer funds directly into a stated bank account(s) locally (or overseas) as required by the...

Who will perform maintenance, repairs, cleaning etc?

We have a comprehensive list of contractors and service providers, who have proven their reliability, to ensure every detail of your property is handled quickly, efficiently, and cost-effectively. Cornerstone will usually solicit at least 2 written estimates for any work to be done on managed property and provide copies of all estimates in your secure area of our...

Will I be required to pay a setup fee?

All costs for advertising your property, screening the tenant, photographs, inventory register, placing it on our website, drive time, and other general administration costs associated with the management contract will be met by Cornerstone Properties. No setup fees are...

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