Property Management Provider Fees and Services Feedback

[Shawn Gerber]

Hello,

I received this feedback from a property manager and was hoping to get some feedback on it.  Are there any red flags here or does this look fairly typical?  Thanks in advance. -Shawn

Services Provided:

• Market and show vacant properties
• Negotiate and facilitate new lease agreements
• Ensure vacancies are move in ready
• Conduct inspections
• Initiate new tenant move in transition
• Collect rent
• Handle customer service inquiries
• 24/7/365 emergency maintenance calls and dispatching
• Receive and handle routine maintenance requests
• Research market data for appropriate market rent increases and renewals
• Handle tenant disputes
• Conduct move out inspections
• Reconcile and refund security deposits
• Monthly and year-end owner accounting
• File IRS form 1099’s on owner behalf
• Handle any accounts payable (utilities, taxes, insurance, etc)
• Coordinate capital improvement projects
• Full unit turnover coordinating
• Tenant evictions
• Coordinate lawn care and snow removal
• Connect and disconnect tenant utilities
• Facilitate City of GF Certificate of Occupancy inspections
• Enforce late fees and tenant maintenance charges

Fee Schedule:

1. 10% of gross monthly receipts.
2. Minimum of $100 per month.
3. 100% of all late fees.
4. $250 for all new lease agreements.
5. $100 for all renewals.
6. 5% of any capital improvement project over $5,000
7. Advertising is billed at cost during times of vacancy only, average is $150/month.
8. Maintenance is billed at $45-$55 per hour, depending on the service (painting, cleaning, maintenance).
9. One-time $250 onboarding fee.