Please be sure to take a look at our Frequently Asked Questions below and let us know if we can answer any additional questions by emailing us at email@example.com.
We are well-versed in the leasing and property management industry on Oahu, and continue to educate our staff. We follow all local, state, and federal Fair Housing laws and legislation. We do our best to educate our owners (and ourselves) as we manage your investment property for you.
- Why Choose Cornerstone Properties?
- How Do You Advertise Vacancies? Who Pays the Advertising Costs?
- How Long Will It Take To Rent My Property?
- Should I Allow Pets? Smokers? Children?
- What Is Your Screening Process For Prospective Applicants?
- What Happens When the Tenant Doesn't Pay Rent On Time?
- What Happens If My Tenant Breaks Their Lease?
- When Should I Expect My Monthly Report and ACH (Direct Deposit) Payment?
- How Should I Plan For My Insurance Coverage?
When you choose Cornerstone Properties, you don’t just hire one Property Manager – you hire a team to take care of your investment property including four full-time Property Managers, an accounting team, and a full support staff. Our full-time staff takes pride in staying up-to-date on all laws and legislation regarding your investment properties, as well as striving to expand their education. Unlike other companies who focus on Sales and have a Property Management division, we focus 100% on Residential Property Management.
The owner and CEO, Carl Frazier, R, has over 20 years of residential leasing and property management experience. His resume includes being past President of the Oahu Chapter for the National Association of Residential Property Managers (NARPM), contributor to the Tenant/Landlord Q&A newspaper articles in the Honolulu Star Advertiser, guest on local radio talk shows, and an expert witness in local court cases.
At Cornerstone Properties, we treat your property like it is our own. We treat tenants fairly, but we work for you, the owners of the property. Our goal is to relieve you of all the stress and worries that usually come with managing a rental property.
We advertise in the following ways:
- Our continually maintained website, complete with detailed descriptions, highlighted amenities and photos of your property.
- The advertisement from our website also feeds into other websites such as HotPads, Trulia, Zillow, MyNewPlace, Yahoo, Google, and Rent.com to name a few.
- CraigsList, an online classified listing service, and AHRN (Automated Housing Referral Network) a website for the Military.
- Each property manager and staff member has a copy of our in-office available rentals list for reference.
Additional costs to you are the $80 for the creation of all online ads. Coordinating and managing the advertising for your property is included in the Cornerstone Properties Property Management releasing fee.
There is no way to know exactly how long it will take to find qualified tenants for your property. There are a number of factors involved in the process: location, overall condition of the home, asking price relative to comparable properties in the area, time of the year the property is available on the market. Typically, you can expect to have tenants within 30 to 60 days. Pricing your property competitively, as well as making sure your property is in the best condition possible, are crucial factors.
It is important to note that according to Fair Housing Laws and Regulations, pets and smokers are not protected classes here on Oahu. All of our properties are non-smoking properties and we include this rule in every lease. We work with each owner individually on the possibility of accepting pets at their property on a case-by-case basis. Families are a protected class and we do not discriminate based on family-structure. Comfort or Service Animals are protected and are not considered pets. We cannot turn a tenant away because they have a Comfort or Service Animal. Cornerstone Properties is a fair and professional management company and we take pride in our knowledge and practices, abiding by all Federal, State and Local Fair Housing Laws.
We have a very diligent screening process for our applicants before they become Cornerstone Properties tenants. We encourage you to review our rental application, policies and procedures as provided to each prospective tenant that they are required to fill out. Our professionally trained staff processes all applications in our office. We obtain a credit report, contact current and previous landlords for rental references, and verify current employment. Placing qualified residents in your property is one of our most important goals as your residential leasing and Property Management Company.
Rent from all residents is due in our Cornerstone Properties office on the 1st of the month. If rent is not received by the 3rd of the month, the tenant is contacted and we send the tenant a 5-Day Notice to Pay or Vacate. In the event rent is still not paid, legal action will begin to evict the tenant.
When the tenant breaks their lease, they are responsible for all expenses incurred to re-lease the property. The expenses include: the rent amount for the remainder of time before the expiration of the lease, fee paid to Cornerstone Properties for a new lease, any additional advertising costs or costs directly relating to the re-leasing of the property.
The closing cycle of our monthly bookkeeping takes place on the 10th of each month. All owners are given access to their online portal where they can view their account balance by the next business day. At this same time, your ACH (Direct Deposit) payment is also transferred into the specific bank account of your choice. If the 10th falls on a weekend or holiday, your ACH payment and your monthly statement may be finalized on the next business day.
We advise all property owners to consult directly with their insurance agent to be certain they are carrying adequate insurance for their property needs. We require that Cornerstone Properties be named as additionally insured on your insurance policy for all properties we manage. We encourage all tenants during the move-in process to obtain Renter’s Insurance. This is also noted in the lease that the Owner’s Liability Insurance does not cover the tenant’s personal belongings, or any loss they might have during their tenancy.