Picking PM

[Delmas Edwards]

Please comment on what you think about this PM. Do they sound reasonable? Global Reality The following will recap our services and fee structure: • Monthly management fee - $75 per property per month • Insurance Administration – Optional – one-time fee of $150 • Utility Administration – Optional – one-time fee of $200 • Legal fees for tenant/landlord matters – Actual that is billed by attorney – there is not an administration fee • Monthly income statement within ten business days of the close of the accounting period • Monthly distribution of all available cash flow • Other periodic reports as per you request • Tenant Placement and Retention Services – Fee for new leases $795 – Fee for lease renewals -$200 • Periodic inspection of vacant properties to assess for security and repairs. • Lawn and Snow removal of vacant properties to prevent blight and other city tickets. Our leasing criteria consists of: • Requiring gross monthly income to be 3 times the rent • Must not have an eviction within the past 5 years • Credit score of 500 or more • Pass background screening for criminal, public offenses and sex offenses • Verification of application information, including employment verification and landlord verification To provide to Motor City Property Managers: • Keys for each property • Driver’s license • Deed for each property • Banking information if you would like your funds ACH-ed to you • A check for $500 (this will be used to fund the required $250.00 reserve for each property) • Certificate of Occupancy (if this has been issued – on Friday I will have you meet with Tanya, our Inspection Coordinator so we can evaluate where you are in the process and what additional steps need to be taken)