Managing Your Real Estate Investment
We manage residential properties (single and multi-family) for our clients. Our standard management agreement has a fee of 8% of the monthly rent and 50% of the first month’s rent when a new tenant is put in place. There is no set-up charge for new rental listings or any additional charges for marketing, etc.
Our fee includes:
- Marketing property and vetting tenants (running ads, holding open house (where applicable), meeting tenants to show properties, performing credit and background checks, calling for reference checks, turning down clients who we do not accept, writing new leases, checking in/out tenants and insuring compliance with all applicable laws)
- Collecting rents and dealing with tenants who are late in monthly rent
- Responding to tenant calls regarding property issues
- Communicating with tenant on issues such as rent increases, unit upkeep
- Scheduling quarterly checks on units
- Performing very minor repairs
- Scheduling and overseeing workers for repairs or capital expenditures/purchases (see below)
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- Communicating with owner on property issues and sending/depositing rent on or before the 15th of each month
The fee does not include the following--although these services can be performed by one of our partners or from an owner selected tradesperson--with a 10% management fee:
- Cleaning units between tenants
- Maintenance of the lawns (if applicable)
- Scheduling and overseeing workers for larger repairs
- Quarterly pest control treatment (required for leasing to insure quarterly inspections)
- Annual or semi-annual HVAC maintenance
- General maintenance and capital repairs
