Owner

Frequently Asked Questions

The experienced and dedicated professionals at Penner Property Management know what it takes to keep your rental investments running smoothly. We offer a complete range of services for locations with up to 8 units. Let our full services take care of the many tasks required to keep your properties occupied and meet the challenge of day-to-day needs of the residents. We also make it easy to meet your financial and administrative commitments. While some owners possess all of these required skills, others naturally turn to professionals to handle the core functions and keep their valuable properties performing at their operational peak.

The services we provide encompass a wide range of duties. It begins with marketing the property, placing a qualified renter, collection of rent, maintenance facilitation, property walkthroughs, eviction processing and so much more. Call on our experienced managers for more detail.

Our fee structure is competitive offering you maximum value. Please contact us today for a complimentary market analysis and quote for service.

We will research comparable units (similar size, features and amenities) to make a recommendation based on current market trends. Our goal is to price the house in a manner that will maximize exposure resulting in placement of a well qualified tenant.

  • ApartmentAdvisor
  • Apartments.com
  • Apartment List
  • Dwellsy
  • Hotpads
  • Rental Beast
  • Rentler
  • Rentals.com
  • Realtor.com
  • RentaSource
  • Tenant Turner
  • Trulia
  • Zillow & Trulia
  • Zumper

We perform a comprehensive screening of each adult applicant not limited to residence history, employment status and credit history.

Owner statements and direct deposits are sent out on the 10th and 20th of each month, excluding weekends and holidays. We also offer free of charge debt service to make the following payments on your behalf for recurring expenses (i.e. mortgage & HOA payments, taxes, etc.).

View your account 24/7 by utilizing our owner web access feature where you can view payments, bills, make contributions when needed and much more!

Our company does in person property visits once occupied. We perform the walk through twice in the first year and pending how that walk through goes, depends on the number of walk through’s moving forward. We also do routine exterior drive by’s.

Management holds the Security Deposit in an interest bearing Trust account in accordance with Missouri Revised Statutes.

At Penner Property Management, we facilitate the full eviction by submitting all necessary documents to our attorney, ensuring forms get properly served through the process server and routine follow up. Average time for the process of a full eviction commonly runs 4-6 weeks for the initial hearing from the time the eviction documents are filed. Should the resident show up to the hearing, then a trial is often granted, which is an additional 4-6 weeks for the trial date. Penner Property Management attends trials on your behalf. Once the eviction has been granted by the courts, it takes an average of another 3 weeks for the lock out to be granted.

Being a landlord is a 'business'. With any business or investment it comes with a certain amount of risk. The most realistic answer to the question is that you "can't be sure" of anything. However, you can take the necessary steps to reduce your risk by using a property manager that has a comprehensive screening process, executes a solid lease agreement and checks on the tenant periodically. A relatively small percentage of people cause major amounts of damage to a property. There is also a small percentage of tenants that will go out of their way to improve the property. Most people fall in the middle. There are no guarantees in this business. Your best protection is to be financially prepared in the event of a vacancy, damage and/or major repair and to maintain adequate landlord insurance and two months reserves at all times.

We will attempt to collect a debt for 30 days after the end of tenancy. If no agreement is reached the file will be sent to a collection agency. Our office does not pursue it further after that and it is always recommended that you pursue legal advice from a licensed attorney, and discuss possible tax write off options with your accountant. Our company does not charge a fee to send the residents file to the collection agency.

Your property will rent faster and demand a higher rent value if it is clean and in good condition. This means the interior and exterior should be free of all personal effects, well maintained and clean. Carpets must be professionally cleaned prior to a tenant accepting possession. Flooring and walls in good repair. The house must be in habitable condition in accordance with Missouri Revised Statutes and all essential services operating in good condition.

If you are not currently involved with a licensed management firm we can start immediately. Call today to set up an appointment. When we begin advertising, the property must be ready for an approved applicant to take possession.

Unfortunately, this contract requirement is not negotiable. By naming Penner as additional insured, your insurance company is agreeing to provide a legal defense under the liability portion of your policy only. If your carrier is refusing your request we are more than happy to provide you with a list of reputable insurance agencies that are ready to accommodate your needs.

Owner Blog

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Teresa Penner, the owner of Penner Property Management, gained her Real Estate license in 1999 from Las Vegas, Nevada. She had managed over 250 single family homes from investors ranging …

All property management companies operate differently. At Penner Property Management, we run an extensive background check. Unforeseen life circumstances, such as a loss of a job or an accident, can …

A property walkthrough is absolutely necessary in order to efficiently provide full service management. Because of this, Penner Property Management does not charge for walkthroughs. It is important to note …