Welcome to our one of a kind, Transparency Page. This page has been a long time coming and our team is excited to crack open our analytics and take transparency to a whole new level. Many companies claim it, but we are going to put our money where our mouth is.
On this page you will find quick access to see how we are doing online as it relates to Google and Yelp. You find analytic reports summarizing our overall communication with our owners, tenants, and vendors. A summary of our pricing, copies of our management agreement and more. We are even going to keep this page updated with anticipated management agreement changes so you can plan ahead.
Utah Property Solutions is founded on three basic principles. Integrity, Transparency and Service. This page is just one more way of us demonstrating our commitment to transparency.
In the know!
With over 60 property management companies and counting in Utah, we do our best to set ourselves apart and make sure that our owners are taken care of and your tenants are happy. Here are just a few of the things that set us apart.
- Month-to-month management agreements
- Transparent website with pricing
- Communication Guarantee
- Quarterly owner and resident survey
- No reserves or set up fees
- No charge annual inspections
- Weekly vacancy owner updates
- We haven’t had any evictions.
- 100% on time rent collection through covid
On the horizon…
The Spring is here and that means yard work has now begun. Every spring we make sure that all of the properties that have had sprinklers winterized are now serviced to start watering the lawns. This maintenance is crucial to the upkeep of the properties. We know owners and residents want their yards to look the best, so we make sure that sprinkler maintenance is taken care of.
Replacing the furnace filter is always an important concern to note. We are now providing furnace filters as a part of our 11% monthly management Fee.
Changing the furnace filter not only keeps the air clean but also reduces energy costs in your home and extends the life of the furnace. This delivery service will provide peace of mind that furnace filters are being brought to the property on a regular basis.
Another important topic to be aware of is the cost of vacant property advertising. Zillow, and Rentler are charging to have the property listed on their platforms. We are now paying more for Zillow and Rentler than we are for the rest of all our software/applications we use. For example, if we rent a property for $1,500/month at 7% management fee, we had to manage 10.66 properties just to cover Zillow and Rentler for the month of May.
We are implementing a fixed rental increase formula. The industry is seeing an increase in federal regulation in all aspects of property management. Most notable is discrimination. Therefore, we’re going to operate on a fixed-based percentage PLUS the most recently published CPI (consumer pricing index). The CPI is a consumer index that gauges the fluctuation of the cost of goods from a candy bar to the fuel.
We are moving to a base percentage of 2% plus the published index for the western united states for a trailing 12-month period. Currently at 1.9%. That means that upon renewal, a resident will have a $58.50/month increase. This index of course can fluctuate so we have put a floor on it of 2% and a ceiling of 5%. Research has shown us that applicants will not sign a lease not knowing how high the renewal could go. This new renewal pricing is a way for it to be the same for everyone.
How are we doing?Review Us
Part of our commitment to transparency is sharing some of our Key Performance Indicators. On a regular basis we have property owners call us and one of their top 3 concerns is “how long is going to take to hear back from someone if my myself of a resident calls or emails?”. “I call my current property management company and I never hear back from them.”. Well, click the links below and see for yourself. Our email/ticketing system tracks everything from how long it takes us to open an email, reply and resolve.
HIGHLIGHTS: We are currently averaging 70 new emails per day. This is not maintenance requests, just general incoming inquiries. Our busiest day of the week is Monday. Our average Replies to Resolution is 2.29. Our average handle time is 4 minutes and 48 seconds. We also receive feedback on the tone of our email conversations with our top three tones being detected as confident, friendly, and optimistic.
See for yourself below…