Property Owners FAQ

At JMK Property Management, we go beyond just property management – we offer a vertically integrated approach that brings you expert insights and solutions. Our Residents FAQ section provides clear answers to your real estate inquiries, giving you the confidence to navigate ownership with ease. Explore tailored solutions designed to empower you in making well-informed decisions for your property investment.

Expert Owners FAQ

JMK Property Management offers both full service property management solutions and maintenance only management services. For more information, please visit our Service Overview Page.

We require an onboarding fee per property being registered for management services. Additional fees are assessed based on property needs.

JMK handles evictions from start to finish for our property owners, from delivering the notices, to scheduling with the attorneys, and finally coordinating with the sheriff to conduct the eviction. 

Tenants pay their rent through the online tenant portal on Appfolio via ACH, or via check, or money order.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled.

JMK has a dedicated staff member for payment histories and collections. We utilize 3-day notices by the 4th of each month for tenants who are due to pay rent and are late. Our team will send further demands for rent if necessary (in writing), and follow up on payment matters.

JMK has a maintenance division dedicated to the maintenance and repairs of our client’s properties. Maintenance requests are received through our online portal in Appfolio, or received over the phone from our maintenance hotline. The JMK team manages coordination of service by dispatching and scheduling the correct vendor, and the resident receives a follow up survey after the repairs are complete to ensure satisfaction.

Yes, owners get to approve repairs prior to them being conducted. This excludes emergencies and repairs that cost under the agreed upon threshold amount made while onboarding.

Security deposits are placed into a non-interest bearing account set up by the owner.

If for any reason a tenant needs to end their lease early, they must inform the JMK team as soon as they intend to terminate your lease early. Lease break fees are 2x monthly rent, so the exact amount is determined by the rent determined in the original lease agreement. The fees are collected and distributed accordingly with the owner, and the property is immediately re-listed after it is returned to its original condition.

We work with our dedicated attorney and their legal team to resolve legal issues with current or past tenants.

The frequency of updates will depend on the management package that was accepted with us, and it will either be weekly or monthly.

Frequently Asked Question

What is the difference between a freehold and leasehold property?

Freehold property means you own the land and the building outright, while leasehold property grants you ownership for a specific period, after which it reverts to the landowner.

How do I determine the fair market value of a property?

Property valuation typically involves comparing similar properties in the area, considering recent sales, location, condition, and other market factors. You can hire a professional appraiser or research recent property sales in your locality.

What are closing costs, and who pays for them?

Closing costs are fees associated with finalizing a property purchase. They include legal fees, title insurance, property taxes, and more. Both the buyer and the seller may be responsible for different closing costs, depending on the contract and local customs.

What is a property inspection, and why is it important?

A property inspection is an examination of a property's condition, typically conducted by a professional inspector. It helps identify any issues or defects that may need repair or attention before completing the purchase to avoid surprises later.

How can I finance a property purchase?

Property financing options include a mortgage loan from a bank or financial institution, using personal savings, obtaining a loan from a family member or friend, or exploring government-backed housing schemes.

What are property taxes, and how are they calculated?

Property taxes are taxes levied by local governments on property owners. The amount is calculated based on the property's assessed value and the tax rate set by the local municipality.

Should I invest in residential or commercial property?

The choice between residential and commercial property investment depends on your financial goals, risk tolerance, and market conditions. Residential properties may offer steady rental income, while commercial properties may yield higher returns but can be riskier.

What is a Homeowners Association (HOA), and what does it do?

An HOA is an organization that governs and manages a community or condominium complex. It enforces rules and regulations, collects fees from residents, and maintains common areas and amenities.

What is the role of a real estate agent in a property transaction?

Real estate agents help buyers and sellers navigate the property market. They assist with property searches, negotiations, paperwork, and provide guidance throughout the buying or selling process.

How can I protect my property investment from market fluctuations?

Diversifying your investment portfolio, conducting thorough market research, investing for the long term, and staying updated on market trends can help protect your property investment from potential fluctuations.

What are property liens, and how do they affect a property's ownership?

A property lien is a legal claim placed on a property by a creditor to secure the repayment of a debt or obligation. Common reasons for liens include unpaid taxes, outstanding mortgages, or unpaid contractor bills. When a lien is placed on a property.