What is a “Turnkey” property?
A Turnkey property is one that is income producing with tenants in place and will provide income from day 1 of your purchase.
When will I begin receiving income?
As stated above, with our “Turnkey” investments you will start receiving income from Day 1. All properties are leased with high quality tenants.
With our new construction property, Income begins after the construction is complete and we have leased the property. Construction is typically complete within 5 months after we start the project, and we allow an additional 30 days for leasing.
Is it Leasehold or Freehold? If leasehold, for how long?
All property offered by Centureon is freehold property.
Is there an assured rent? How much and for how long?
Our program is set that rent is assured for 24 months from the date of the closing. Rental rates are stated in the rental assurance agreement you receive with your purchase documents on the property.
Who handles the escrow and closing of the property?
Centureon works with a highly reputable title company to facilitate closings for our clients. The title company will open escrow, ensure that the title is free of all liens and encumbrances, and facilitate the title transfer and documents.
Is there a maintenance warranty?
With our turnkey investments a 2 year maintenance warranty is offered by Centureon
With our We provide a standard 10-year builder warranty on every property.
How much is the management fee?
Property Management fees vary by property type and market you are purchasing property in. The monthly fee for property management ranges from 5% of gross rents for multifamily buildings up to 10% for our turnkey property in Michigan.
What is the tax involved and how much is it?
Real estate taxes are imposed on privately owned properties in the US to pay for local services like road maintenance, public schools and operations of local governments. The estimated tax amount is located in the property investment summary for your selected property.
I’m not familiar with HOA, what is that and how much would I need to pay?
Home Owners Association (HOA) covers community’s amenities and pays for maintaining community common areas. This is very popular in the US and allows for a better family focused community with extra amenities helping attract the best tenants. HOA’s are only a factor on our new construction rental properties.
Can I manage the property myself?
You can manage the property yourself, however if you choose to manage the property the rent and maintenance assurance is voided. We do not recommend trying to self-manage your investment when living outside the country or state as this is the most important part to ensuring an on-going, prosperous return.
Can I rent it to anyone and can I live there myself?
The tenant screening process is extremely important in making sure that a qualified tenant is placed in the property. The property management company has a designated leasing department that handles all leasing as well as lease renewals on your property. You may live in the property if you choose but, you will need to receive a green card or visa if you do not have US citizenship. Additionally, the rent and maintenance assurance agreement will be voided if you decide to live in the home.
Do I need insurance, and how much is that?
Yes, the property will need to be insured for natural disasters, fires, etc. If you choose to, Centureon will facilitate this making sure you get the best possible rate and coverage; the amount varies based on the location and value of your property.
Is there finance available, and how would I get that?
Yes, we offer financing on our properties. Utilizing our preferred lenders you are able to achieve 60-65% financing on your investment as long as you meet the personal requirements set by the lender.
Are there any limitations for overseas investors looking to purchase?
The US does not impose limitations on foreign investors purchasing real estate. However, financing will be limited to our new construction properties at this time.
Can I sell my unit at any time?
Yes, you are able to sell your property at any time. Our property management company is vertically integrated with a complete real estate brokerage allowing us to help facilitate the sale of your property quickly through multiple channels.