CB Properties is an investor-focused property management company that provides the in-house property management services for Memphis Turnkey. Our number 1 goal is to make YOUR property profitable. We do this through a proven system of tenant placement and property management techniques designed to find and keep the most qualified tenants.
We are investors ourselves and we understand the importance of KEEPING THE PROPERTY RENTED and producing consistent CASH FLOW. There are considerable advantages to having professional property managers who are real estate investors themselves. The main advantage being that we understand the feeling of a vacant property (no income, high maintenance bills, risk of theft and vandalism, overhead, etc.) and the sense of urgency that comes with filling a vacant property quickly. This is why we manage each property as if it were our own.
We strive to keep the monthly cash flows consistently high for our investors through the relationships we’ve developed and cultivated with our vendors. We continually review maintenance bills to make sure our vendor billing is accurate and fairly-priced based on the high volume of work we give them. Further, our in-house professional leasing agents use innovative marketing techniques to get properties rented fast and our background check programs ensure we are renting to the most-qualified applicants.
Other features of our Investor-Focused Property Management services include:
- Real time Property Management Software that allows our investors to log on any time and view their statements.
- Low maintenance costs for routine repairs.
- Full-time office personnel that allow us to respond to tenant issues ASAP.
- Late night calls to investor clients located on the other side of the world who have critical issues/questions that need to be addressed (most of our investors are international clients, so it is not unusual for us to set up late-night calls).
- Assistance for annual tax preparations.
- Property tax reduction services to improve monthly cash flows.
We are a company who understands the needs of investors (95% of our clients are investors) and we will go the extra mile to make sure YOUR PROPERTY yields the best returns possible for you!
CB Properties Frequently Asked Questions
What are your monthly fees?
We charge 8% of the monthly rent. If the house is vacant, the 8% charge is not incurred.
Do you mark up your maintenance billing to investors?
Unlike some Property Management Companies who leverage their business volume to mark up maintenance bills anywhere from 50 – 100%, we simply charge a 10% maintenance fee over repair cost. For example, if our plumber charges $75.00 for a service call, you’ll see a deduction from your rent collection for that service call in the amount of $82.50. The 10% maintenance is to cover cost such as carrying our investors cost, workers compensation and property management trip charges. Realizing most of our clients are out-of-state and out-of-country, we provide the original copy of the invoice as backup and peace of mind that costs are being watched closely.
What is your tenant placement fee?
The standard fee is 75% of the first month’s rent, however, in most cases the first tenant placement fee is paid by Memphis Turnkey Properties, since they offer tenant placed properties. If a tenant renews their lease after one year, there is no additional fee incurred by the property owner for the lease extension.
When do you pay out rents and how are they paid?
We pay our investors on the 5th of the following month. We can either mail you a check or direct deposit your rent payments at no additional charge to your account.
How do you handle mid-month maintenance expenses?
We pay each of our maintenance vendors every Friday. We provide a maintenance float for our investors and simply deduct any expenses from their rent. The remaining balance from the rent would be paid to the investor. Excessive maintenance costs, such as a roof replacement that could cost up to $4,000, will need to be settled up outside of the maintenance float.
Please don’t hesitate to call our email us if you have further questions.
5545 Murray Rd, Suite 225
Memphis, TN 38119