What We Will Do for You
- Provide advice on making your property ready for lease.
- Find a tenant by listing your property in the Multiple Listing Service (MLS).
- Place a sign on the property advertising it for lease.
- Place key box on door to allow access by Realtors who may show your property to prospective tenants.
- Arrange for repair work and preventative maintenance.
- Collect rents and deposits, to be placed in a Broker’s Trust account and disbursed to owners after deductions of management fees and authorized repair/preventative maintenance cost.
- Encourage on time rent payments by accessing and collecting late fees. All late fees are retained by the property manager and do not offset management fees.
- Require prospective tenants to complete a rental application. The tenant will be charged a non-refundable $40.00 application fee that will be retained by the property manager.
- Conduct a background and credit check on applicants.
- Attempt to verify that all information provided in the prospective tenant’s lease application is true.
- Complete a Property Manager’s Inventory and Condition Report for your property.
- Help insure that the property is in compliance with local and state codes that govern rental properties.
- Extensively photograph/video your properties for the purpose of establishing the condition prior to tenant move-in.
- Inspect properties during the term of the lease.
- Inspect property after the tenant moves out for damage.
- Arrange for post move out cleaning and repairs.
- Deduct the amounts for unpaid damages, rents and late fees from the security deposit. An itemized list of charges will be provided to the tenant for any part of the security deposit not refunded.
Charges to Owner
- If property is not currently leased, a listing fee equivalent to 50% of one month’s rent. 25% of this is offered as compensation to cooperating brokers who may actually procure the tenant.
- Property management fee is 10% of one month’s rent, payable monthly when rent is collected. This will be deducted from rent collected beginning with the first full month’s rent payment or, if applicable, from the prorated rent.
- Commission fee of 6% for sale of property to a tenant that was procured by the actions of the property manager or his broker.
- All cost for repairs and preventative maintenance and other cost as indicated in the property management contract and lease agreement.
- Any fees or court cost associated with the eviction of a tenant.
- Lease renewal or extension fee, $100.00
- Any properties where tenants are currently 30 days late on rent payments will not be considered for management.
- Owners will be provided IRS Form 1099 at the end of the year.
- We do not collect any fees based on your repair cost. This means that we will always do our best to keep your repair expenses as low as possible.
- Owners are encouraged to establish a reserve fund (typically $500.00) per property to cover most minor repairs. These funds are held in the Broker’s Trust Account. The reserve fund serves to expedite the arrangement of repairs and helps to ensure the prompt payment of repair cost.