Property Management Rates
Property Management Fees are calculated as a percentage of the gross rents per month and the number of units we manage for each client. There is a minimum charge of $70 per month per unit.
In addition, there is a one time tenant finding fee of 75% of the first month's rent. There is a minimum tenant finding fee of $750 per unit.
|Number of Units:||1 - 8||9 - 15||16 - 24||25+|
|Rate (%)||7%||6.5 %||6.25 %||6%|
The more properties you have under contract with us, the more you save! Our rates are incredibly low to begin with but are amazingly low if you have multiple properties assigned to us.
Moreover, we do not burden you with hidden or surprise costs. Maintenance issues are handled quickly and competently. If it is a smaller or quick fix, we will more often than not take care of the problem on the spot, free of charge. If it requires more substantial work to fix the problem, we will schedule one of our many third party tradespeople or companies, with which we have a long standing and trusted relationship. Unlike almost all other management companies, who regularly mark up all contractor invoices by 20%, we do not. We do not profit from repairs in any way from repairs we arrange.
Replacing/finding tenants comes at a cost of 75% of one month's rent. This cost covers all expenses related to advertising, screening, and lease preparation/signing. If the tenant continues to rent the unit for year after year, you will not incur this cost a second time. Once a tenant vacates the property, this fee will apply again for finding a new tenant.
On top of these great low cost features, we will not charge you a monthly management fee while your property is vacant! This guarantees you that the only time you will pay a monthly management fee to us will be when you have a tenant under lease to pay rent. For example, if your existing tenant vacates on July 15th and a new tenant is found during July but is not moving in until September 1st, you would pay the monthly fee for June but not for July or August. Monthly fees would resume in September.
Compare our rates and features to our competitors although you may have a difficult time doing so with most companies not clearly and openly displaying their rates and features on their websites. We believe in transparency in our rates and our services. It's by keeping clients happy that we continue to grow and succeed!