Residential Property Management
Peace Of Mind For Property Investors
When You Entrust Krown Property Management
For Your Residential Investment You Can Expect:
A division of Krown Group of Companies, Krown Property Management is a professional property management company and is locally owned and operated. Based in St. John’s, we have earned the trust of investors and real estate agents across Canada and elsewhere, for managing their properties, attracting trustworthy tenants and advocating on behalf of landlords.
Krown Property Management provides two inter-related services
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We will lease your property and handle all management issues; or if you prefer
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We will attract and screen tenants and then hand the management over to you.
In all cases, we strive to find the perfect match of tenant to property based upon the guidelines you provide.
Fair Value For Your Property Investment - Rental Value Assessment
Our experienced Leasing Team will inspect the property and make suggestions as to the amount of rent you can expect and can recommend ways to increase the rental value of your property.
Professional Promotion
We promote your property for quick rental, using a proven combination of online advertising, regular business contacts, signage and waiting list cross-references.
Tenant Screening
We show the property to prospective tenants, take applications and conduct credit screening through the Credit Bureau. We also verify employment records and complete reference checks with both present and previous landlords.
Property Inspections
When signing up any tenant we go through the residence and indicate any prior damages to the property on a legal form attached to the lease agreement. All parties receive a copy that ensures that the tenant is aware of any existing damages to the property and safeguards the owner should any new damage occur. Owners can also request additional inspections.
Freedom From Rent & Security Collection
We will collect the rent and the security deposit on your behalf. We will also obtain verification from Newfoundland Power and fuel suppliers to ensure tenants have the accounts transferred to their name.
If you've invested in a residential property, Krown Property Management's combination of experience, reliability and quality service will give you the peace of mind you deserve.
Following Owner Guidelines
You, as the owner, set the rental price, place restrictions on tenants and dictate preferences in tenant selection. We respect your decisions. Furthermore, we are prepared to serve as your advisor and advocate.
Property Management Service Packages:
Outlined below is a summary of our services, including our management service packages and fee structure.
All fees are subject to HST.
Management fee structure is based on a percentage of the rent collected and the number of units involved. The fee is 10% of the monthly collected. Fees are payable only when a unit is rented.
Property Lease Only
Level 1
Finding a suitable tenant includes advertising; scheduling viewings of the property; tenant screening (verification of income, reference checks and credit report); complete rental agreement; collecting damage deposit and first month's rent; obtaining series of post-dated cheques for 6 or 12 months depending on term of lease; providing the Tenant with a copy of the Residential Tenancies Act; completion of the move-in inspection; handing over documents and cheques to owner; Leasing fee is 100% of the month's rent, minimum fee $250
Property Management
Level 2
Includes Level 1 services, plus collection of rent, payment of owner approved monthly expenses; arrangement of maintenance and inspections to insure work is completed satisfactorily; handle Tenant issues; represent the owner at Rental Tenancy Board hearings; issue notices to Tenant regarding inspection and rent increase; provide owner with monthly Statement of Income and Expenses; provide 24/7 emergency service. For owners living outside Canada, we will complete the monthly NR4 remittances to Canada Revenue Agency. Leasing is 50% plus 10% management fee of the first month'a rent for the placement of each new tenant amd 10% of the monthly rents collected thereafter. If the tenant vacates within 3 months, the 50% charge is waived for placing the new tenant.