Learn more: Co-Management and Property Management Software
Questions about Co-Management
Do Co-Managers need to be licensed?
Not exactly. The reality is only a few tasks actually require a license. In most states, that is discussing rates and terms. All other tasks do not require a license. In fact, majority of those tasks are typically delegated to non-licensed employees at property management shops.
If a Co-Manager is unlicensed, then the landlord will need to set rental rates and discuss lease terms with the tenants. Luckily those only take a few minutes to achieve! Everything else may be handled by an unlicensed Co-Manager.
Don't you need a real estate license to host an open house or showings?
Far from! Unlicensed Co-Managers are legally allowed to unlock the doors, answer questions about the property and coordinate showings. They simply cannot state how much rent is or lease terms.
Legally, landlords can prepare a document stating all rates and terms! Problem solved.
How long of a contract is Co-Management?
Monthly. Required 30-day notice which is one final earnings for the Co-Manager.
How do I pay my Co-Manager?
Burbz automatically allocates all earnings for every rent transaction. Our system verifies if any bonuses were achieved, then allocates. All instantelously when a rent payment is made on Burbz.
Do Co-Managers handle my money?
Let us be clear: Co-Managers NEVER have access to your money!
There is never a reason for Co-Managers, or even Property Managers, to handle your physical money! Too much time. Too much risk.
Who holds onto security deposit?
Co-Managers never touch money. They only have ‘viewing’ access to property income/expense transactions.
How much does Co-Management cost?
$10 per month. Per rent transaction.
This is automatically deducted on rent transactions only.
Why even offer a bonus for On-Time Rent? That's their job.
Understood and agreed.
However, as a landlord ourselves we need a way for Co-Managers to have ‘skin in the game’. This is the solution that’s Earn-Earn for all parties involved.
How often can we change our agreement terms?
Anytime but it requires both parties agreeing. Landlords have control of revising terms but, to protect Co-Managers as well, both parties have to accept.
How many Co-Managers can I use?
As many as you want! Some Co-Managers specialize in leasing or maintenance.
You can assign multiple per property. Or, you can have multiple Co-Manager’s across many properties.
What protections do I have from Co-Managers?
Legally speaking, we require all parties to indemnify Burbz and other parties.
With that said, it is always best to protect yourself. Having insurance can provide additional protections.
On the Request For Proposal, there wasn't the scope I need.
Burbz believes in complete control for landlords. On the RFP, there are several text boxes for you to enter custom scope or details you wish to share.
What may the Co-Manager self-perform for repairs?
Every Co-Manager’s skills are different. Have a conversation during the interview about their skills.
Landlords always have final say whether to allow Co-Manager to self-perform or not.
How much do Co-Managers charge for self-performing?
Co-Managers indicate on their proposals whether they can self-perform or not. However, this does not mean their monthly management rates include self-performing time.
Co-Managers who want to self-perform will first require permission from landlords. They can create a ticket in Burbz for the materials and labor cost.
How do I pay Co-Managers for self-performed work?
You can pay them through Burbz! Make a direct payment to them.
Plus, it keeps a record in your Income/Expense report! Yay!
Questions about Property Management Software
Questions on our Property Management Software
General tools for rent collection, tenant screening and maintenance ticketing.
Can I use Burbz without Co-Management?
Absolutely! The foundation of Burbz is a property management software solution.
Is the Property Management Software really free?
Yes. Our commitment to the value of helping landlords profit is offering as much free software as possible.
Landlords can successfully manage their rentals completely free with the essential tools for rent collection, maintenance ticketing and tenant screening reports.
Is there a monthly contract?
Nope. We never store your credit card info.
Does Burbz profit from holding onto my rent payments?
Not at all! ACH payments take 5-7 days in general. In fact, that money never flows through Burbz but instead our payment processing provider.
What if I collect rent off Burbz?
Even when you collect rent off-Burbz, there are still tools and features to benefit you. Also, you can easily input data into the Income/Expense reports.
What do I have to pay for?
While we do our best to make Burbz free, there are extra’s that have a price. Such as legal documents or rental reports.