Property Management Agreement
When entering a legal relationship with a property management company, property owners sign a Property Management Agreement. This document outlines the terms, obligations, and expectations of the partnership, ensuring clarity and a smooth working relationship.
Below, we highlight some key aspects of the Property Management Agreement for you to review.
How Easy Is It to Cancel Your Management Agreement?
At HB Rentals, we prioritize your satisfaction and strive to earn your trust every step of the way. To provide peace of mind, we offer the flexibility to cancel your agreement at any time with a 30-day written notice. Please note that cancellation fees may apply.
What Is a Reserve, and Why Is It Required?
As part of our commitment to seamless property management, HB Rentals establishes a banking trust account for your property. This account requires an initial reserve of $300, which is used to cover property-related expenses before or after monthly rental income is received. This reserve ensures we can handle any immediate or unexpected costs without delay.
When Will You Receive Your Rental Income?
Timely payments are a top priority at HB Rentals. Our accounting process is finalized by the 10th of each month, and you can expect to have your payment and monthly statement sent out no later than the 15th. Funds are securely transferred via ACH directly to your bank account, ensuring quick and reliable access to your rental income.
How Are Maintenance and Repairs Handled?
One of the biggest advantages of working with HB Rentals is the freedom from dealing with day-to-day property maintenance. From routine issues like leaky faucets and running toilets to larger repairs, we’ve got you covered.
We have established robust maintenance protocols to:
Ensure compliance with health and safety regulations.
Clearly define responsibilities for repairs between tenants and property owners.
Handle maintenance emergencies promptly and efficiently.
For your convenience, any repairs under the $300 escrow reserve amount are managed without requiring your approval. This approach saves you time and ensures your property is always well-maintained.
Partnering with HB Rentals means peace of mind and professional management tailored to your property’s needs. If you have any questions about the Property Management Agreement or our services, don’t hesitate to reach out—we’re here to help!
Upon entering into a legal relationship with a property management company, property owners are required to sign a Property Management Agreement. This agreement serves to clarify the legal terms and obligations associated with the relationship.