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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)
