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Q: How does your company handle payment of the TPT “renter’s” taxes?
A: Bennett Property Management will file with the state for the necessary licenses needed to report rental income. We will also file the reported income with the Arizona Department of Revenue monthly.
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Q: What type of education/designations/certifications do your property managers have?
A: Anne McCawley is our Designated Broker and currently holds the Residential Management Professional, Master Property Manager and Certified Residential Property Manager designations. Bennett Property Management is one of only two management companies in the Valley to hold the Certified Residential Management Company (CRMC) designation. Our CFO, Mike Mumford also holds the RMP, MPM and CRPM designations. Melissa Felix holds the CRPM and is working on her RMP. Several PMs are currently working towards their CRPMs through the Arizona Association of Realtors. We also have six Associated Brokers in the company, which requires an additional 90 hours of education beyond the salesperson licensing hours.
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Q: How did your last ADRE audit go? Did you make the Commissioner’s Honor Roll?
A: Bennett Property Management has never failed an audit and has made the honor roll each time.
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Q: When/how do you issue Owner statements and distribute net proceeds?
A: Owner statements and ACH distributions are made on or about the 21st of each month. Year-end statements and 1099/1098s are issued no later than January 31st of each year.
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Q: Do you or your PMs own rental property?
A: The Owners of Bennett and several of the property managers own investment real estate. We feel that gives us a very real life perspective when managing property for our investors.
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Q: Which organizations is your company professionally affiliated with?
A: Bennett Property Management is associated with NAR, AAR and our local board of Realtors. We are also members of the National Association of Residential Property Managers.
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Q: How does your company screen prospective residents?
A: A prospective applicant is texted a link to an online application screening company. Through this company, which is owned by licensed private investigators, the applicant is able to provide the necessary documentation to prove legal presence in the US, verify their identity (Arizona is in the top 5 for identity theft) and to run their credit report and criminal background check. The property manager is actively involved in this process and personally verifies the rental history and source of income.
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Q: What area(s) does your company cover?
A: Bennett Property Management provides full service property management for all of Maricopa County and parts of Pinal County.
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Q: What is a reasonable amount of time to expect a response to an email or voice mail?
A: Our policy is to respond within one business day.
