Hello, greetings from Colorado Springs. My name is Lance Kohler and I'm the owner and managing broker of the Cornerstone Real Estate Team. I'm going to do a series of videos on owner frequently asked questions, and today I'd like to cover a question that we get quite often when potential owners are interviewing us for property management and that is what Property Management Services do you offer?
We offer three levels of service under our property management company, and those are maintenance only, tenant placement it's sometimes also called leasing only, and we offer full property management. I'll get into each of these three levels of service in a little more detail.
For maintenance only services it's typically for an owner managed property, where the owner does not want to deal with the you know late night phone calls, or they don't want to deal with an oven that doesn't work on Thanksgiving Day, or the hot water heater that went out on Christmas Eve.So we'll provide maintenance only services for an owner, we will have an agreement with the owner and introduction to the tenants, the tenants will be in our system, they'll submit work orders through our property management software, Cornerstone will assign the vendors, we'll coordinate the link up between the vendor and the tenant, once the vendor has completed the work they contact us, let us know the job's complete, we'll go to the property inspect the work once it's completed, once the work is done to standard then we'll notify the owner so you as the owner would have funds in your property account with us for us to pay that bill.And then there would be a coverage for emergencies after hours and weekends, that's all part of our service and we do that for a flat rate per month and then we do charge an additional fee for each work order or inspection that we have to conduct.
The second type of service we provide is the tenant placement or leasing only, typically this is for an owner that wants to manage the property themselves, but they don't want to go through the hassle that's involved in listing the property, screening tenants, showing the property, and then essentially approving a tenant.So what we'll do for those owners under our tenant placement, is we'll create the listing, we post the listing on our website through management software that gets exported to multiple sites, Zillow, Trulia,HotPads, Realtor.com, a bunch of other sites that carry rental properties.We'll answer all the inquiries, email, text, phone, we'll conduct the showings, we'll screen prospective tenants, and then we'll prepare the lease and provide that to you the owner for the owner and the tenant to sign the lease and then management would be on the owner whatever agreements they've made.So again that's for a flat rate we will do tenant placement or leasing only.
And finally the third level of service we provide is full Property Management, where we will meet you at the property, advise you the owner on making the property ready for listing and leasing, we'll advise you on market rent, we'll create and post a listing, we'll show the property, we'll screen tenants, we'll approve tenants, sign the lease, we do rent collection, maintenance coordination, coordinate all the repairs, coordinate with the tenants, we'll have you know our bookkeeper and our accountant manage the books and manage the account for the property, we'll send you a report every month, we'll do inspections at move in, we'll do inspections at move out, we also do an inspection about 90 days into the lease or 90 days before the lease ends if we're considering doing a lease renewal. So we'll be your trusted advisor in managing your rental property under the full property management system.
I hope that answers one of your frequently asked questions, I appreciate your time hopefully this was a value to you, please feel free to reach out to us if you have any questions you can find us on our website at callcornerstone.com and thank you have a great day.