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.
2. Ten percent of all collected funds.
3. Landlord Protection Plan (LLPP). This amount could change in following years as the service providers may increase their fees to us and material costs may increase. Your cost is $399.00 per year per property.
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.