FAQS
What does a Property Manager do?
A good property management company should be your eyes and ears on the ground for all property or resident-related needs, including: Writing rental property listings Screening residents Placing residents Reduce vacancy time between leases Performing regular maintenance Providing revenue reports and tax reporting form Maximizing rental income Ensuring you avoid surprising liabilities Performing property inspections Terminating leases early if needed Encouraging qualified residents to renew Managing tenant satisfaction Responding to every maintenance request ASAP Interacting with your homeowner's association (HOA) Evicting residents if the need arises And more
Why choose Mynd Property Management?
At Mynd, we believe we're the best property management company for residential real estate investors. Here’s why: Best-in-class technology: The Mynd investor portal , makes it seamless for investors to approve service requests, communicate with their property manager, and monitor performance metrics in real time. With Mynd, investors can say goodbye to spreadsheets: the Mynd app provides powerful insights and reporting on each property’s cash flow, YTD earnings, service requests, new leases or renewals, and more. Accessible on both mobile and desktop, Mynd provides visibility on a property or an entire portfolio all-in-one place. Upfront, flat-fee pricing: We charge simple, flat, and monthly rates rather than an overall percentage of rent. Whether a property is leased for $2,000/month or $5,000/month, it’s the same monthly price to select Mynd as your property manager. Comprehensive nationwide coverage: With coast-to-coast coverage and local property management experts in 25+ markets , we support investors with geographically diversified portfolios. Whether all properties are in one location or multiple spread across different cities throughout the U.S. We support investors by keeping all their properties under one property management company to realize the benefits of passive income. Rental income protections: As an industry-leading property management company, we offer protections that guarantee an investor’s income. When Mynd places residents on behalf of an investor, we guarantee up to $5,000 in loss of rental income. If a resident violates their lease agreement and eviction is needed, Mynd will help cover court costs and legal fees up to $5,000. More than just a property management company: Mynd is more than just a typical property management company. For real estate investors who want to continue to build wealth through single-family rentals, Mynd is the all-in-one solution that makes investing easy. We support the end-to-end journey of investing in single-family rentals, so investors can buy , finance , manage , insure , or sell their properties… all in one place.
How does Mynd Property Management get my property leased?
Mynd handles everything to get a property leased quickly . We take pride in these steps to find great residents and reduce vacancy. Professional marketing: We do all the marketing for you, including professional photography, listing your property on 40+ sites, and virtual tours. Intelligent market pricing: Our intelligent pricing engine powered by in-house data from 14K+ active units under management helps provides detailed metrics on current market rental rates, to get you the best possible outcome with great quality residents.
Quick application process: Residents can apply in only a few clicks and we screen their credit history, identification, and income. Subject to applicable law, a background check that includes criminal history may be conducted. How does Mynd Property Management find quality residents?
We receive an influx of applications from prospective residents. We conduct strict resident screenings to check for proof of income, validate identity, and credit check. Subject to applicable law, a background check that includes criminal history may be conducted. A criminal conviction may result in an applicant’s denial if permitted by applicable law. For the benefit of the property owner and the applicant, Mynd Property Management ensures that any potential resident has the ability to meet their rental obligations, including on-time rental payments and respecting the stipulations of the lease agreement. We follow these guidelines to reduce vacancy, early terminations, evictions, late rent payments, and property damage. Mynd abides by the National Fair Housing Act and Fair Credit Act for all applicants and properties. How does Mynd Property Management provide me with updates on the status of my property and/or resident?
As a tech-enabled residential property management company, we have developed an investor portal that makes communication simple. The Mynd investor portal makes it easy to connect with the property management team, track financials, view leasing activity, and approve or deny maintenance requests at the click of a button. Responsiveness to communication protects your investment and keeps residents satisfied. Poor communication is a frequent cause for renters not choosing to renew a lease, so we uphold the strictest of standards to make sure we’re resolving issues in a timely manner. How much does Mynd charge to be my property manager?
While many property management companies charge based on a percentage of the rent, Mynd provides upfront and flat fee pricing, property protection guarantees, and discounts for larger portfolios to create a win-win formula. We charge a simple, flat, and monthly rate rather than an overall percentage of rent. Whether a property is leased for $2,000/month or $5,000/month, it’s the same monthly price to select Mynd as your property management company. For details on pricing, please visit our property management page and select your property or portfolio location. BONUS: property management fees can qualify as a tax deduction. Since property management is a very involved job, it can help qualify your real estate investment business for the 20% qualified business income deduction . Please consult your tax professional or advisor for more details. Does Mynd charge additional fees for property management?
As a property management company, Mynd only charges the monthly rate and one-time costs associated with new leases and lease renewals. Outside of that, we only have investors pay for service, repairs, and/or maintenance requests. Costs for repairs vary based on the scope of the work. The Mynd team works with a network of approved vendors to deliver quality work at fair rates, and around 50% of our service requests are handled by our in-house technicians or virtually (virtual service requests come at no additional cost). For larger projects that are more specialized or technical work, we use a network of vetted vendors, and our in-house team of trade specialists to review every bid. This ensures you get the highest-quality work without being over-charged. In the event we receive a volume discount from a vendor or supplier, we pass on those savings. Where does Mynd manage properties?
Mynd’s full-service property management is designed for real estate investors. We operate from coast to coast, delivering consistent property management service in over 25 markets, so investors can build and manage geographically-diverse portfolios, remotely. To view all locations that Mynd services, please visit our property management page . Does Mynd manage short-term or vacation rentals?
No, Mynd currently does not provide property management services for short-term rentals or vacation rentals.
