all-inclusive fee system.
we hate to be “nickel and dimed” and figure you feel the same. so we offer the most competitive rate in a way that makes sense. the same rate all the time…no extras.
full service management:
50% of the 1st full month rent as a fee for the “rent up” process
9% of the gross monthly rent as the management fee.
100% of 1st full month rent
how is this different from the norm?
industry standard is to charge anywhere from 25%-50% of a first month’s rent because the rent up process is so time consuming. where we differ from the industry is on the monthly fee of 9%. most companies charge anywhere from 6%-8% but that fee is not all-inclusive. you’ll want to watch out for extra charges. these charges can be $25-$200 each time for items like inspections, handling bill-back utilities, keeping a tenant’s late fees, lease renewal fees, dealing with tenant issues, maintaining a tax savings account, etc. as you can imagine, all these extras can double or triple what you were originally quoted as a management fee.
be sure to ask about policies regarding repairs to your property.
it’s common practice for property managers to charge “cost plus 10%” when they have to hire a contractor for repairs. what this means, is that they will charge an extra commission of 10% of the cost for the repair. as you may suspect, there is a conflict of interest here and it may be routine to select a random company out of the yellow pages or the highest bid in order to increase the commission amount. we believe it’s our job to keep your costs low and your income high. therefore, we have worked hard over the years to develop sound relationships with contractors that give us both rock bottom rates and quality work.