At KVA Property Management we measure success based upon the quantifiable impact we have on our client’s investments. Our strength is the ability to perceive and interpret client’s needs quickly, create a partnering alliance with them to provide professional management and timely solutions for our client’s properties and investments. Our management policies are based on proven best practice methodology and include:
Each owner establishes a trust account with KVA Property Management, which will be used to cover disbursement and expenses necessary to the management of your property.
In addition to your normal Fire and Extended Coverage insurance policy, owners will maintain an “Owner, Landlord, and Tenant” (OL&T) liability policy as well. This coverage protects the tenant, you, and us against a wide range of losses caused by unavoidable hazards. Copies of your policy, along with the name and phone number of your insurance representative are maintained at KVA to expedite matters should a claim need to be filed.
KVA Property Management utilizes a thorough, accurate record keeping system. Our computer system allows us to provide services that would be difficult or impossible with a conventional accounting system. All invoices and receipts are returned with the monthly statements along with every transaction affecting your account balance recorded and explained in detail. In addition to the monthly statements, KVA Property Management will prepare year-to-date and year-end statements so you are always fully informed on your investment status. As required by Internal Revenue Service regulations, KVA will prepare and submit a 1099 MISC form showing the total gross rent income that we collect on your behalf during the year and copy this information for your records and personal accounting.
All rent is due on the 1st and is considered late if received after the 3rd of the month. Late notices are sent on the 4th and removal proceedings are initiated if the tenant does not make immediate arrangements for rent payment, late fees, and penalties.
As an additional protection, appropriate security deposits are always collected upon signing with the prospective tenant. The amount of deposit is based on the rental rate and the credit worthiness of the applicant. All security deposits are kept in a special escrow ledger account until they either are refunded to the tenant upon the move-out inspection or are forfeited to cover damages caused by lease violations.
Our monthly management fee is payable when the rent payment is received and is automatically deducted from your account at the time the rent payment is posted.
Cost related to the acquisition of a new tenant is based on a percentage of the rent and is paid directly to the leasing agent within 10 days of move-in.