Full Management Contract
For this type of management, our fee is 10% of the monthly rental amount in addition to the leasing fee which is equivalent to 75% Of the 1st full month's rent. The services provided are:
• Collect monthly rent • Monitor payment and mail 5 Day Late Rent Notices if applicable • Prepare monthly financial statements • Handle all phone calls • Provide 24 hour emergency maintenance service • Handle all tenancy challenges and resolve problems • Keep owner informed of all activity • Provide information and documentation to owner for tax purposes and requirements • Pay service /maintenance bills on owner's behalf if requested and deduct from monthly rent. • Run a generic rental ad in local publications each week • Offer co-broke opportunities to other real estate companies
This type of management involves a leasing fee, which is the equivalent of one month's rent. For this fee you will receive the following services:
• Handle all property showings • Process rental applications
• Including credit check, rental reference and job verification–to be presented to owner.
• Lease preparation • Do tenant move-in which includes providing keys, collecting first month's rent,
collecting security deposit, collecting pet fee (if applicable) • Send lease and monies (minus our leasing fee) to owner • List property on our internal rental list • Offer co-broke opportunities to other real estate companies
The property is then turned over to the owner and Reid Realty’s Property Management's responsibility is over. All tenant concerns and collection of remaining rents will be the responsibility of the owner.