Knox Financial takes control from the homeowners or landlord and converts the real estate into passive money-making opportunities. The company handles almost every aspect of ownership, including setting rates of rental, finding tenants, negotiating leases, purchasing insurance, and more. Read on for everything you need to know about Knox Financial.
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Knox Financial Features
Knox Financial was created to help homeowners manage their rentals more easily and efficiently, and to provide homeowners with a non-interventionist way to convert their move-in homes into rental properties. Knox is responsible for overseeing and automating everything from finances to taxes, marketing, leasing, collections, and maintenance. The company also provides forecasting models and rental prices to determine the return on investment your property will generate over time.
Here’s how Knox Financial works:
- Knox will evaluate the potential of your home or other property as a rental property.
- Knox determines the optimal rental rate based on local and market competition.
- Knox searches and reviews new tenants. They will photograph properties, create attractive advertisements, and display your home effectively. Knox will conduct background checks to evaluate interested tenants based on a variety of factors.
- Knox is responsible for the insurance and maintenance of the house, ensuring that the contractor is top-notch. They never pad prices so what they pay is what you pay.
- Knox handles negotiations quickly, resolves issues as fairly as possible, and serves your interests.
Knox Financial Pricing & Fees
Knox charges a fixed fee of 10% of the rent, which is consistent with the fees charged by traditional property management companies. This pricing structure means that Knox is motivated to generate as much cash flow as possible. This also means that if your property has no tenants, you don’t have to pay.
However, standard surcharges such as mortgages, utilities, and maintenance are still your responsibility.
Knox Financial Limitations
Knox Financial requires a one-year commitment with all profits paid out quarterly. This means you will not receive rental income and should be prepared to pay a three-month mortgage
Bottom Line
Knox Financial is a good choice if you want to avoid the bothersome aspects of real estate investment. This service is perfect if you want to move into a new home, expand your property portfolio, and rather not take on the role as a landlord.
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In a nutshell, Knox will take on your mission and give you 10% of your success. You might also be interested in Buildium, and all-in-one platform that manages properties seamlessly.