Welcome Investors and Homeowners
We appreciate your interest in Golden Key as your property manager. Recently, many people have found that Golden Key was the solution they needed when they couldn't sell their home, didn't like managing their own properties or when they were tired of dealing with their current property manager.
In an effort to help you decide if Golden Key is the right property manager for your situation, we have highlighted some frequently asked questions that people ask our staff.
Click on the questions below
How quickly can you rent my home?
Renting your home is a function of the amount of traffic driven to see your home. Simply put, it’s a numbers game! The seasonality of leasing is such that more traffic is able to be driven during certain months of the year versus other months in the year. As you might expect, the summer is typically a good time to rent your home and around the holidays, at the end of the year, is a more challenging time to rent your home. We’ve found that it takes a certain number of showings and not a certain amount of time to lease your home. That is why our whole goal is to effectively drive traffic to see your home. Our current marketing efforts for our homes drive about 4,000 phone calls and 3,500 unique visitors to our website each month. This marketing traffic is what produces showings, which produces applications, which produces a well-qualified tenant.
Click here to watch a video and find out more about Golden Key’s “Rent Right, Rent Quick” leasing system.
What are your fees?
Our fees vary depending on the homeowner and the property. However, in general, our fees are as follows:
- A portion of the first month's rent of new tenant placed by Golden Key for a "leasing" fee.
- 10% of gross rents collected, with a minimum of $50 per month.
- 10% management fee on any maintenance or construction items we subcontract to independent contractors
- 10% fee on all materials purchased for maintenance or construction.
- Hourly market rate for any Golden Key employee's labor for construction or maintenance items. Current rate is $78 per hour (no 10% fee is added on top).
- 50% of late fees.
- Asset management fees quoted upon request.
When do I get paid?
Typically rent is late on the 3rd or 5th of each month. Once we've collected the rent, we will disburse owner funds and statements on the last Wednesday of each month.
Do you keep a reserve for maintenance expenses throughout the month?
Yes, we keep a $100 per property reserve (with a $500 minimum) in the account to handle unforeseen maintenance items throughout the month. In the event maintenance continues to exceed that amount, we reserve the right to review this amount and adjust accordingly.
We also provide asset management for select clients. This includes paying the mortgage and insurance on a monthly basis. In the event we provide this service for you, the reserve amount may be different.
How long have you been doing this?
We've been managing property for others about three and a half years now. We initially began in the business by managing our own property (four years ago). However, we saw the need in the market for a professional manager and decided to offer our services to others that had a high expectation of management staff and a need for detailed accounting systems.
How many properties do you manage?
We currently manage about 400 properties.
Entrusting your home(s) to a property manager can be a stressful decision. You will probably find that the answers to these questions just scratches the surface of the answers you need. For answers to these new questions please feel free to contact us. We would love to help you get these answered.
If you are interested in finding out more about our property management services,
please fill out the form below.