who we serve
How We Do IT
Frequently Asked Questions (FAQS)
1.) What are your set up fees and the monthly fees after that?
We do not charge up-front fees, and only start making money when you are! If there are tenants already in the unit, we charge a $100 on-boarding fee. If no tenants, it is just our standard 75% of first month's rent leasing fee. This covers marketing the property, hosting showings, and thoroughly screening and placing tenants. Moving forward, we charge 8-10% of monthly rent for ongoing management. The reason we charge a percentage of rent and not a flat fee is because we want our interests aligned with you, the owner. We strive to get the highest rental income that the market will yield.
2.) How often do you conduct walk-throughs and are they an additional cost?
Before tenants move in, we will conduct a walk-through and upon move-out. When we send our maintenance team, we have them complete a basic inspection so we stay updated on the overall condition of the property. During occupancy, we charge $100/walkthrough. We also get all of our tenants to complete a move-in checklist of items they note are in need of repair. They must return this form within 7 days of move-in
3.) How do you send finance reports?
We have an online owner portal which you can access at anytime. We use the most robust property management software available, AppFolio. Please see attached owner statement, I blocked out the address and owner name for privacy purposes.
4.) What are your maintenance fees and limits?
We require a $300 owner contribution to be deposited per each property. This helps us to cover some cost in order to dispatch our contractors/vendors for emergency items. For items over $1,000 we will get 3 bids. We keep you in the loop on all maintenance items, we pride ourselves on transparency with our owners, and using our online portal will keep you updated on any maintenance issues in real-time.
5.) Who does the repairs?
Our staff contractors for non-specialized items. For specialized items (HVAC,ROOF,Etc.,) we use our trusted vendors We use these vendors so frequently that we get great rates!
6.) How many full and part-time staff members manage your properties?
We have a team of four full time and one part time.
7.) How many of the properties that you manage do you own?
Zero. When we find deals or if some of our owners are selling, we first go to our interested owners who are in the market to buy!
8.) How do you screen tenants?
Very thorough process. - credit check, background check, call previous landlords, call current employers and references, etc.
Please see more here: https://shannonpropertymanagement.com/services/screen - It is in our mutual interest (less headaches) to get responsible tenants!
9.) Is there an early termination fee?
No, just a 30-day notice. We don't want you to be in a contract if you are not happy and vice versa.
10.) How do you communicate with the tenants and by which methods do you collect the rent?
Using our software, AppFolio. Just as there is an owner portal, there is a tenant portal. Here, the tenants pay rent and can submit maintenance requests.
11.) Which sites would you list my properties?
We market on the local HAR/MLS, as well as 30+ of the top real estate websites. I am sure you have heard of most of these, i.e. - Zillow, HotPads, ShowMeTheRent, Realtor.com, Zumper, Apartment List, Apartments.com, etc.