PROPERTY MANAGEMENT DUTIES:
Collection of Rents and security deposits
Maintain a Trust Account for all security deposits & rent
5-day notices, eviction notices
Tenant complaints
Coordinating maintenance
Rental rates: rents needing to be raised or lowered, depending on market rate.
Advertising- includes signs on property, internet, flyers, and newspaper advertising
Unit inspections and return of security deposits less any deductions
Collecting and paying sales tax
Credit and background checks for all tenants
Employment Verifications
Monthly statements and monies less management fees, taxes and any other fees
MONTHLY MANAGEMENT FEES--- MONTH TO MONTH RENTAL AGREEMENTS
Percentage of total monthly income:
1 unit 10% or $65.00 per unit minimum
2-5 units 9.5 % or $45.00 per unit minimum
6-19 units 9% or $40.00 per unit minimum
20 or more units negotiable
Rental of an empty unit: $300.00 per unit
A Rental fee for a Buyer Broker is $300.00, this is only paid if there is a Buyer Broker involved
Here are some of the forms we use. Crime Free RENTAL APPLICATION Property Management agreement sample, the addendum and exhibit is missing from this file. PM MOLD
(you will need adobe reader to open these files)
You will pay the minimum when your unit is not rented. There is still work to do when it is vacant!
ADVERTISING:
Fees will be plus advertising. A Better Realty .Net will run a general ad for tenants in publications. If you want a special ad run, you will be billed for the ad. All Owners that have vacant units will pay their portion of the general ad. To keep the costs of advertising down, we will use as many of the internet services available, flyers, web pages and virtual tours. When we have units for Rent visit our rental page!
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