Property Management Fees
Our firm philosophy is quite simple….results, results, results. Your real estate asset is extremely valuable to your overall investment portfolio and it should be managed and respected as such by your Property Management firm. The age old adage is still very true….you get what you pay for.
To demonstrate our commitment to delivering results, our Property Managements rates actually DECREASE the longer it takes us to find you a qualified tenant. Simply put, we start at 10% per month and will go as low as 8% per month. More specifically, if we rent your property in 1 - 45 days the rate is 10%, 46-90 days our rate decreases to 9% and 90 days or longer we decrease the rate to 8% per month.
We offer a FLAT 8% per month rate for:
- Clients with multiple properties managed by our firm
- Clients who are using our Real Estate group to try and sell their home while our Property Management group looks for a tenant at the same time
- Clients that use our Real Estate group to help them buy foreclosures/short sales/HUD homes/etc. as investment properties
We do not charge a marketing fee of any kind. All of our marketing fees are paid from the Finder’s Fee, also known as a Leasing Fee, which is equal to 50% of one month’s rent. If our marketing fees exceed the Finder’s Fee then we do not charge you but rather consider that as a cost of doing business. There is a one time $100 set-up charge per property and is negotiable with multiple properties.
Tenant Procurement Only Fees
Tenant Procurement is an option where our firm will advertise, show and find a qualified tenant for you to ultimately mange yourself. Once we find a qualified applicant we will prepare the lease for both the tenant and owner’s execution. Our firm will collect the first month’s rent (prorated if a partial month) as well as a full security deposit (one month’s rent.) We charge a fee equal to one (1) month’s rent for this service. Our firm will deduct it from the collected rent and bill you for the difference if partial rent was collected. We disburse the tenant’s security deposit to you to hold for the lease term.
We give you a 1% management fee discount for your referrals. How does this work?
We know that the best referrals come from our clients. For every referral that you send to our firm we will discount your management fees by 1% beginning the next full month after the new client signs with our firm. We will discount your management fee 1% for every referral you send us until a minimum of 8%.
For example, if your current management rate is 10% and you send us a friend from your building/neighborhood/work/etc. and they indicate you are the referral source, then we will reduce your management fee to 9% beginning the first full month after they exclusively allow our firm to manage their property. If you send us a second referral, then we will reduce your management fee again to 8% in the same manner as the first referral.