Our Fees

OUR FEES

Our fee structure is as follows:

1. First Month’s Rent. When renting a new property, we keep the first month’s rent. Often, this fee earned is given to a licensed real estate agent that provided us with an accepted tenant. We don’t charge you for our incentives to new tenants, such as the 42” flat screen TVs we were giving to new tenants in December, 2013. The actual cost of over $400 comes straight from our pocket, not yours. Nor do we charge you for all of our other marketing efforts.

2. Ten percent of all collected funds. We keep ten percent of any option payments and the rent paid as well as any insurance proceeds should there ever be a claim.

3. Landlord Protection Plan (LLPP). We are carefully reviewing our actual cost for 2013 whereby the fee for this service was $399. The amount for 2014 will be held to this same fee of $399. This amount could change for following years as the service providers may increase their fees to us.

4. ½ Month’s Lease Renewal fee on tenants that continue to rent after the initial three year lease expires. At this time we will renegotiate their lease and, based on their payment history, market condition, their ability to pay, the way they took care of the property as evidenced by the LLPP and if the house needs any maintenance, we might raise rent, collect additional option payments and/or raise the option price. The tenant/occupant situation will dictate our negotiation with them, which will be in the owner’s best interest.

5. Upon the disposition/sale of your houses, as brokers, we keep a 3% commission for the listing and 3% for any selling agent or us, which is standard in the industry. In most cases, this will be co-brokered with another office and we would share our fee with the selling agent.

Important issues for you to remember:

  • There is never a mark up on repairs or materials for your properties.
  • If you have a turnover, we will do our best to get it completed in seven days so you are rent ready. The time it takes is dependent on repairs required and weather. There are no mark ups on the work or the inspections upon completion.
  • The LLPP protects you from a new lease up fee in the following cases:
  • The property is being turned over during your first year with this tenant