SNSHN Management Frequently Asked Questions

We currently manage approximately $100M in real estate across more than 300 properties. Predominantly residential but also commercial - including retail, medical, office, industrial, and self-storage! Don’t forget that we are active investors too - we’ve had to learn to manage various assets in order to succeed as investors.

We manage within a 60-90min drive radius of Milwaukee downtown. It is important that our office staff can physically get to a property - quickly - as a functional principle of our approach to responsibility.

This is highly dependent on portfolio size, stability, and area. There is a huge difference between large commercial assets and scattered-site residential in distressed areas. That can range anywhere from 5-12% (our median owner is paying 12% but all cases depend on the portfolio)

We have no tenant placement fees!

We have no renewal fees!

We do not charge any fees with regards to leasing, placement, and we foot the bill (at least, the first $1,000 in expense) for eviction proceedings that we take on behalf of owners - assuming said tenant was leased to by us or resigned to our lease. This structure aligns incentives and effectively balances the partnership. SNSHN makes more money when our owners make more money (rent amount * collection rate * occupancy rate). Please refer to our fee structure overview.

Absolutely. We do have basic maintenance/project management fees that differ depending on job and situation. For instance, we may use materials from inventory and assign an individual for whom we carry liability insurance, workers comp, health/dental, and pay taxes on their behalf - there will be a higher markup here than for a fully incorporated and independent subcontractor. We are confident that we provide the highest value and most contextually aware improvements/repairs for our owners - utilizing the same system and model that powers our own investment properties. Refer to our fee structure overview.

For large projects (when not expected to be paid by rent collections within the month) we ask owners to contribute 40% of the estimate up front and the remaining amount at completion.

We have in house maintenance and work with a select group of subcontractors. We also have multiple office staff working on coordination, project review, inventory management, and solution engineering. Tenants can submit work orders via their portal or via phone.

It depends on the repairs necessary. It could be as quick as one day, or as long as 1-2 months for major renovations. On average, we’d estimate 2-3 weeks.

We use appfolio software and that posts our rentals on multiple platforms such as zillow,

apartments.com, zumper, etc. A large amount of our leasing activity comes from direct traffic to www.snshn.co and cross-selling between similar properties.

We encourage and support advertising and marketing with no barriers to obtaining housing for all qualified tenants without reference to race. color, religion, sex, national origin, familial or handicap status. We adhere to all WI landlord/tenant state statutes and laws.

Credit score we look for above 600, but we also factor in debt and past due payments. Based on the whole picture we will determine if the tenant is approved with extra security deposit coverage or if they are not approvable. We do background checks and call landlord references. No evictions or bankruptcies in the last 5 years. Any signs of fraudulent activity are cause for denial. Criminal records are evaluated on a case by case basis.

Example of exceptions in regards to credit scores:

a. Prospects may have no more than 5K in debt - For prospects who do not meet this requirement but meet all other requirements, may be approved with double security deposit and/or a qualified consignor.

b. Credit Score of 600 or higher - Applicants with lower or no credit but meet all other requirements may be approved with additional stipulations.

We have strict qualifications, and our management structure encourages us to place well

qualified long term tenants as evictions/turn over is not cost effective to our team. When our owners hurt, our team feels the pain and the business pays a price alongside the owner.

We sit between a 95-98% occupancy rate so we have very low vacancy but it depends on unit location and quality for how quickly we can place a qualified tenant.

We require landlord liability insurance and encourage renters insurance. Our system allows us to enroll tenants in LLI if they do not purchase renters insurance to ensure proper coverage.

• If tenant is not on a SNSHN lease:
• $450 (covers notices, e-file costs, service fee costs and court time)
• If proceeds to obtaining a WRIT, $300 (cost of writ is $225 + covers eviction time)
• If a case is dropped prior to court date due to tenant paying, cover just the cost of the eviction filing $130.
• If tenant is on a SNSHN lease:
• We will cover the eviction - to date we have NEVER charged an owner for any incidental legal fees associated with an eviction, but we do place a theoretical cap at $1,000 in total expense
• If a tenant catches up on payment prior to court date, potentially charge filing fees of $130 to tenant as an agreement for them to stay in the unit

9 staff in-office, 11 maintenance specialists, and 2 remote coordinators.

General, professional and liability insurance.

The first three months of management we have monthly meetings with owners. You will receive an owner statement every month as well but continued meetings after that depends on portfolio/owners.

Email is the absolute best way to contact us. owners@snshn.co is the best email to contact if you are unsure as to who you should speak to. Unless there is a true emergency, or a high-urgency coordination task, phone calls tend to be hard to track, harder to action, and less efficient. If you don't receive a response from us within 24 hours then please do call. Quick and efficient communication is critical.

Additional information about SNSHN Communication & Response Timelines

Our team makes every reasonable effort to adhere to the following timeframes:

• We received your message: You'll hear back - either an answer or a quick acknowledgment - within 24 hours.
• Your unit just went vacant: We complete our move-out inspection and send you a full report within 7-10 days.
• You're onboarding a new property with us: We inspect your property and send our initial report within 7-10 days of onboarding.
• Ongoing unit turns/projects: We don't send updates at every step - only when something material changes (cost increase, timeline shift, or an unexpected issue). No news is good news. You're always welcome to check in anytime.
• Financial or statement questions: We'll respond within 2–3 business days.

Our very early stage owners often ask this question. The answer is... we don’t know how much a particular problem or issue will cost for certain. It is impossible to tell you what it will cost to “fix” a furnace, when the issue could be a loose thermostat wire or it could be a bad inducer motor, board, or unit. In terms of routing maintenance and repairs to someone else. We are not open to piecemealing projects or work orders. Simply put, every customization to process, or introduction of unknown variables dilutes our ability to execute and creates opportunity for errors and miscommunication.

Additionally, we have the team and connections to find great pricing. See below for our recent data on SNSHN average costs versus market rate.

Our renewals are crafted with careful consideration and evaluation by our whole team. This assessment included a rental market analysis of the area, considerations for the current tenant, unit condition, and current economic conditions – all with the primary focus of safeguarding your best interests. Our process includes notifying the tenants of their lease expiration in accordance with their lease and state rules and we also provide an update to owners as the renewals are in process and once leases have been executed.

Yes! We actually find it much more effective for us to play the primary position here. It makes it easier to coordinate, execute, and move forward to the next item. If you receive correspondence, simply email it to us and we will handle it from there. Rest assured, once you hear back that we have received something, we will process it on our end to completion.

Yes. As part of our onboarding we will go do physical inspections of the property to ensure we have a handle on the tenant situation, property quality, and potential items for followup. We generally do bi-annual inspections of all of our properties.

At the time of onboarding we will put utility bills into our name and charge back to tenants as necessary. We will notify the city to receive notifications of any City fees or fines and will handle the maintenance of the property. Owners are still responsible to pay for their taxes, mortgage payments and insurance.