Management Schedule of Services and Fees
SCHEDULE OF PROPERTY MANAGEMENT SERVICES AND FEES
- Rental marketing and promotion.
- Tenant pre-qualification, screening and maintenance.
- Rent collection – Tenant/Owner/Vendor databases – Trust Accounts maintained for tenant security and other deposits and pre-collected funds.
- Property inspection and reports with emphasis on asset protection and enhancement.
- Identification and management of day-to-day maintenance issues. This may include obtaining bid estimates and overseeing contract work.
- Facilitation of Tenant/Landlord communications.
- Payment of any contract or assessment obligations to the property as required.
- Utility payments and utility transfers as required with change of Tenants.
- Computer statements provided monthly with “year to date,” maintenance summary” and “rent detail” information. The statement and Owner funds are to be distributed to owner by the 25th day of the month.
FEES AND COMMISSIONS
- Account Set-up Fee (one-time) of $20.00 per unit with a $100.00 minimum charge.
- Lease Fee – 75% of full month’s rent with each new lease.
- Marketing – actual cost of advertising expense that exceeds 25% of one month’s rent.
- Management Fee is charged monthly at a percentage of the gross monthly collections. The actual percentage is determined by mutual agreement of Owner and Agent before signing of Management Agreement. The type and condition of the property(s) are some of the aspects of determination. The minimum monthly Management Fee to Quorum is $100.00.
- Monthly Administrative Maintenance Fee of $1.00 per unit (minimum $10.00)
- Lease Extension Fees - $200.00 for administrative costs.