Cost of services
CUT TO THE CHASE, what’s it going to cost me.
1.) Set-up fee: $295 2.) Management fee: 8% 3.) Advertising fee: 1/2 of first month’s rent (Charged to your property),
This includes the MLS co-op fee paid to a
cooperating real estate agent of $250
We charge $295.00 for property set-up. This fee is used to pay our staff members to visit your property and perform a thorough evaluation of your property and enter your property into our system and begin the process of management and leasing, this usually takes an entire day. This fee is due upon signing the property management agreement.
The set-up includes, but is not limited to:
1.We perform a complete property evaluation to insure that your property can be rented relatively quickly with the highest rental rates possible. 2.Our staff members take lots of pictures of the property, exterior and interior documenting condition of your property. We store these pictures into our database for future reference and for advertising purposes. 3.The property manager does a complete neighborhood analysis, taking notes of other properties for rent (the competition), and what others are renting their properties for (rental comps) and the amenities being provided by the competition such as swimming pools and three car garages as compared to your property. Our managers also visit your competition’s property so that we know what others are charging for similar rentals in your area. 4.Our property managers coordinate the installation of a “For Rent” sign to attract prospective tenants (our cost). 5.Our property managers installs a lock-box on your property (our cost) so that Realtors and other licensed real estate agents and leasing personnel can show your property to prospective tenants (minimizing vacancy time) 6.Our managers begin the process of advertising, inputting your property into the Multiple-Listing-Services (MLS), Craigslist, E-Bay classifieds, Zillow, and other numerous internet media outlets and print publications. 7.Our managers show your property to prospective tenants that respond to all of our advertising methods (a very time-consuming task). We answer all incoming calls responding to numerous inquiries about your property, and we drive to and from your property numerous times to show your property to prospective tenants, again a very time consuming and laborious task. 8.Travel to and from your property again and again to insure that the property is secure and to allow access by various inspectors, maintenance personnel, and others who may have an interest in your property.
These site visits and answering the dozens of inquiries about your property by interested people are expensive tasks, but you are only charged a mere $295 for all of these services; a small fee that starts the leasing, set-up and eventual management of your property by our company.
We deduct from your property proceeds, once it’s rented, one-half of the first month’s rent (minimum charge of $500) for advertising costs and for leasing activities to include sitting down with the prospective tenant and explaining the lease details and their responsibilities to your dwelling. You are not charged, your property is simply deducted the proceeds once your property gets rented. It’s a lot better to receive something or a partial payment and have your property rented out, versus having your property sit vacant and receive no money at all.
All of the advertising proceeds deducted are spent on advertising and leasing expenses associated with leasing-out your property, not towards company expenses. You will spend a whole lot more if you advertised and did everything yourself, and of course, you will have to deal with your tenant (a very time consuming effort). If you choose to perform your own leasing duties, that is quite fine with us, you can procure the tenant and then call us later to perform the management duties. Again, there are no arguments coming from us. If you think you can find a tenant cheaper and more effectively, then please call us after a tenant is found and we will only charge for management duties, and at only 8%.
We also input your property into the multiple listing service (MLS) and offer other real estate agents, Realtors, and leasing personnel a $250 co-op (referral fee incentive) so that they are encourage to show your property to their clients and eventually produce a viable tenant, thus maximizing your property’s exposure to the open rental market and minimizing vacancy.
Of course, no monetary deduction takes place unless a tenant signs a lease contract. Therefore, instead of you paying and conducting the very expensive and time-consuming tasks of trying to lease-out your property, we employ a broad range of personnel, advertise your property, show your property, and perform any paperwork needed to rent your property out.
It’s much better to receive a partial payment once your property gets rented-out instead of the property continually sitting vacant, and not receiving any proceeds at all…, also, you would continue to incur advertising fees from newspapers and various advertising outlets charging you money for exposing your property to prospective tenants, and another important note… if your property continues to sit vacant; it’s a target for thieves, squatters, and vandals.
08% management fee (minimum $95).
Based upon your rental rate, we calculate a monthly management fee of 8% (minimum $95/mo.) whichever is greater, for the term of the tenant’s occupancy for monthly management activities