Our management fee is based on rental revenue actually received, so we have a personal incentive to make sure your units are always rented at the highest rent the market will bear and that rent collection is pursued diligently.
Cornerstone Select Properties is a full-service real estate investment management company offering property owners of all sizes “battle-tested” management solutions that fit your needs. We specialize in the management of smaller multi-unit apartment buildings and residential homes throughout the Greater Hamilton Area.
We offer solutions that eliminate our clients’ involvement in the hassles of day-to-day management and put our skills to work on maximizing your ROI.
PROPERTY MANAGEMENT SERVICES
As a full-service investment management company, we have experienced and dedicated staff offering a diverse range of specialties. With this team Cornerstone Select Properties services include, but are not limited to, the following:
- Initiating leases, terminations or evictions
- Collection of rents
- Good Tenant Guarantee
- Monthly owner statements
- Financial reporting
- Distributions via direct deposit into your account
- Unit inspections and tenant ‘move-in/move-outs’
- Rent increases and tenant notifications
- Tenant communications and resolving disputes
- Maintenance and repair
- 24-hour emergency services*
- Eviction and recovery services (filing with Sheriff’s office & collections agency)*
- Project and capital improvement management
- General knowledge of building codes and property standards
- Strong knowledge of Residential Tenancies Act (RTA) and Landlord-Tenant Board (LTB) policies
- Maintenance management and work order processing
*Additional fees apply.
TECHNOLOGY AT YOUR SERVICE
At the center of our professional management approach is our Internet-based management tools. Our websites, www.CornerstoneSelect.ca and www.HamiltonHomesForRent.com, are available 24 hours a day to Landlords and Tenants offering useful information, available rental units and downloadable and printable forms. Our advanced property management software allows us to provide effective communication, financial management, and reporting tools in one easy-to-use interface that gives our clients insight into nearly every aspect of their property.
We operate on a strict policy that rent is due on the 1st and eviction notices go out after 3 days of non-payment. This policy actually minimizes the necessity to carry the eviction process to its conclusion, as tenants tend to prioritize the payment of their rent over other financial obligations once they understand how strictly we enforce our delinquent rent policies. When it is necessary to completely follow through on an eviction action, we manage every step of the process, including hiring a lawyer (if necessary) to represent our clients in court. We take all necessary steps to ensure whenever a tenant is leaving due to either lease expiration or eviction that the unit is aggressively advertised to minimize lost revenue due to a vacancy.
MONTHLY OWNER STATEMENTS
We offer a detailed accounting system that offers precise monthly income and expenditures and year-to-date totals for easy tax preparation. Owners receive monthly statements and cash flow reports along with distribution payments. Distributions are received via Direct Deposit to your account. Reports and distributions will be sent to you after the 15th of the month and an annual statement is sent out at the end of each fiscal year.
Before a new tenants occupancy, we inspect the property to verify move-in condition. A “Move-In” report is generated and in some cases, a camera will be used to record the visual inspection. The same process will apply at the move-out phase.
During the rental period, we make semi-annual inspections of the entire premises to make sure the building stays clean and problem free. During the inspection, we look for any potential problems that can be corrected now at a reduced expense and report to ownership. Smoke alarms and CO detectors will also be inspected twice a year.
TENANT CUSTOMER SERVICE AND ISSUE RESOLUTION
There is a strong relationship between rental property profitability and the retention of responsible tenants. We work to minimize tenant turnover and its resulting leasing and vacancy expense by developing strong landlord-tenant relationships based on expeditious response to tenant concerns and cheerful customer service.
PROPERTY MAINTENANCE AND IMPROVEMENTS
We deal directly with professional contractors for all repairs and maintenance. Our relationship is based on the ideal that the job is done once and it is done completely. We work with vendors and contractors who have established a good relationship with multiple projects. To provide this consistent level of service we have multiple full time “handymen” on staff. This also allows us to control costs and quality so we pass the savings and service on to you. When required we hire outside contractors to perform any necessary property maintenance and offer recommendations to clients on making improvements to the properties when we feel doing so will enable them to raise their rents and increase the return on their investment.
When maintenance or repair service is required, we will contact the appropriate professional for the job. We offer flexibility in using your choice of professionals, or to use one of our carefully selected contractors. This can save you significant time and money when it comes to maintenance on your rental property, not to mention ensuring quality work. Although Cornerstone Select Properties coordinates all the repair and maintenance services, we are not responsible for the respective payments. We will, however, pay all invoices on your behalf provided you have sufficient funds in your account.