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Management Fees

If your first question to a Property Manager is “How much do you charge?”, we think you are asking the wrong question. It’s like asking a car dealer “How much is a car?”. It should really be the last question, once you consider what is required, what you need and what you are getting. There are many property managers out there of varying degrees. You may not need a full-service manager, but that it the level we provide. Or, you may be a hands-on owner best suited to manage your rental yourself, although I would never recommend that.

Our fees are structured to be as simple and transparent as possible for everyone.

1

Marketing Fee for finding a new tenant

This fee is a % of one month’s rent

Depends on many factors such as age & condition of the property, expected rent rate, and any HOA access/application requirements we must follow.

This includes the initial assessment and all the marketing materials and efforts going into finding and securing a tenant, inspections up to the point of moving in AND all of the back-end work, inspections, documentation, and security deposit handling when a tenant moves out.

  • We DO NOT charge fees for renewals of existing tenants. We negotiate the best deal to keep a good tenant in place and execute a renewal on your behalf. However, we do pass through the actual charges for lease preparations from the law firm ($45 currently).
  • This fee IS incurred whenever a tenant moves out and we must incur the time and costs to market the property again and find a new tenant. This is why keeping tenants happy and keeping the best ones in place are in your best interest.
  • Detailed Benefits and Services

    1. Assessment of your home and recommendations to get it into appropriate rental condition
    2. Coordination of “light” repairs such as handyman, paint touch ups, electrical, plumbing, interior/exterior cleaning, carpet cleaning, re-keying the locks, fire extinguisher, smoke detectors etc.
    3. Collection and review of any HOA or community rules and documents to determine restrictions/processes/fees required for renting and applications
    4. Collection of any existing service vendor information (pool, lawn etc.). Contact and discussion with each one, requesting/verifying appropriate documentation necessary (licenses, insurance etc), setting them up as vendors in our property management system for ongoing payment
    5. Collection of any warranty documentation on the home/contents
    6. Marketing photos of the property
    7. Marketing video walk through of the property
    8. Market assessment of comparable rentals and determination of market rent range
    9. Marketing the home for rent on the internet and sign in the yard where appropriate/allowed
    10. Collecting all inquiries from various internet sites, phone calls.
    11. Responding to all inquiries with detailed pre-qualification questions
    12. Qualifying tenant prospect and scheduling a showing at the property in coordination with any existing tenant schedule
    13. Collecting and reviewing tenant application materials
    14. Collection/holding of tenant reservation/security deposit in escrow account
    15. Ordering the preparation of custom leasing documents specific to your property terms
    16. Review of leasing documentation and review with tenant for signature
    17. Issuing a tenant move-in package with welcome letter and details n the property, services included, and contacts
    18. Documentation of move-IN condition with full pictures and written inspection sheet (generally after this step, this process is complete and the “monthly management” begins until a move-out occurs)
    19. Issuing tenant move-out package detailing tips for complying with their responsibilities and security deposit conditions.
    20. Documentation of move-OUT condition with full pictures and written inspection sheet
    21. Assessment of tenant security deposit deductions, issuing notice of refund/deduction and processing refund check. Any deduction will credit to owner account to apply towards repairs.
    22. Back to #1 to start over again if needed in preparation for a new tenant.
2

Monthly Management Fee

8%-10% of the monthly rent

Fees may vary - Please contact us to discuss before we can commit to the appropriate structure.

This begins when a new tenant moves in and the marketing process is complete. This includes all of the day-to-day issues that occur throughout the month like rent collection, repairs coordination, paying bills, tenant issues, accounting statements, etc. This also depends on many factors such as: Age and condition of the property, in an HOA or gated community, how many properties you have (discount there!), services required like pool and lawn, size of the property.

  • We DO NOT charge a fee when the unit is empty so if rent doesn’t come to you, management fees don’t come to US!
  • Detailed Benefits and Services

    1. Receive rent electronically via each online Tenant Portal
    2. Track and follow up with any late/bounced payments, issue and post notices where required
    3. Collect and review any initial condition issues discovered after tenant moves in, coordinate resolution as needed
    4. Continuously qualify and maintain various vendor relationships to perform required/licensed services to the home
    5. Receive all communications from tenants, including maintenance issues via online Tenant Portal
    6. Review and resolve tenant issues (those phone calls at all hours!)
    7. Review maintenance options with vendor (and owner where needed on larger issues), create work orders and send to appropriate vendors and coordinate/track to completion
    8. Maintain schedule of regular periodic services such as lawn, pool, extermination services
    9. Receive invoices for repairs, scrutinize and review with vendor and tenant where needed for accuracy.
    10. Pay vendors electronically for repairs out of rent collected and/or reserve account for your property (for larger items, request a funds contribution from the home owner via their online Owner Portal)
    11. Maintain a reserve account for maintenance and repairs for each property (usually $500).
    12. Transfer net monthly proceeds to the owner by ACH direct deposit
    13. Provide and online Owner Portal for funds contributions and access to accounting statements
    14. Email and post a detailed monthly accounting statement to the Owner Portal (always available for viewing or printing)
    15. Prepare and mail/post end of year 1099 tax statement to the property owner and their portal
    16. Provide owners direct cell phone number to our company owner for all questions and issues.
    17. Reminder of tenant renewal timing and option towards end of term
    18. Market assessment of rent rates, tenant history, and offer of terms to tenant for renewal. If there is no renewal, we put the unit on the market around 60 days from end of lease.
    19. Preparation of necessary renewal documentation, communication and review with tenant and signing (no renewal admin fees are charged to you by us!). However, every 2-3 years, a new lease may need to be drafted and incur the nominal lease drafting fee ($45 now) to keep leases current with any new changes in leasing law.
    20. Coordinate an affordable annual inspection by a professional inspection company (around $120 – Optional but recommended). This documents the condition of all areas of the property and helps identify current/future problems.

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at 813.321.5677 in Tampa