All Forum Posts by: Emily Powell

When questioned about the absence of language in the PM contract or pet guarantee language, this is what they responded with:

“The paragraph states the fees the management company can charge and collect from the resident, which are as follows: NSF check charges, serving fees, application fees, lease renewal fees, and collection fees. We consider the fee an Admin fee. With that being said, it is my understanding by reading the prior emails that you do not agree with RPM collecting 100% of this fee. You've been our client for many years and I am more than happy to have RPM only collect 50%. This way you receive the remainder. Please let me know your thoughts and if you have any additional concerns.”

I’m going to follow up with them because while I appreciate this gesture, I still don’t agree that they should make a profit off of my allowing a pet in my property. Just thought I’d update the thread with the latest.

@Lin Ding Another book recommendation, if you don’t have it on your list yet is “The Monopoly Philosophy: How I Used Board Game Strategies to Find Financial Freedom In Investment Real Estate” by @Jeff Wallace

@Patti Robertson The owner of the company is a broker, so I think that option might be off the table.  

@Nathan Gesner for the owner or PM to cover damages?  I am constantly baffled by the $$$ they charge me when a tenant turns over.  I understand that there are standard "made ready" repairs, but the lists upon lists that come in each time a tenant turns over are mind boggling to me. 

@Brad Larsen @Nathan Gesner Once a tenant vacates, how does one differentiate between pet damages vs tenant damages?  My PM claims (via e-mail pasted above) that I would be reimbursed the $ they collect if pet damages exceed pet deposit (which they have never said to me until I asked about this $).  But why would they admit to damages being from a pet when they can just charge me directly for them? 

@Patti Robertson forgive my ignorance, but what kind of broker are you referring to? 

@Scott Mac That's definitely an option, but I have other properties with them and it sounds like a pain to move them all over.  But definitely something to consider if they fight me on this.

 I just needed confirmation that I wasn't crazy.  

@Ned Carey - this is the closest clause I could find in the PM agreement that might (but I don't think does) elaborate on what you're referring to:

"Management Fees: Owner agrees to pay Manager a fee or fees for services rendered at the rates hereinafter set forth. Owner recognizes that this agreement is not a partnership between the owner and Real Property Management. Owner recognizes Real Property Management as agent in any negotiations relative to the property or any part thereof, which may have been initiated during the term hereof, and shall compensate Manager in accordance with the rates hereinafter set forth. Such compensation is due and payable on demand and may be deducted by the Manager from receipts. Management company fees charged to tenants include NSF check charges, serving fees, application fees, lease renewal fees, Administration fees, collection fees and 100% of net late fees."

I agree with you that the $150 fee is not clear.  You're right, if it's added to the security deposit, then it should be refundable. But the $25 per month is where I disagree with the PM's interpretation of who should get that.  Why should a PM make a profit off a tenant choosing to have a pet in my property?  The $150 should also be clarified, but the $300 per year I believe should go to me, not the PM. Do you have thoughts on that piece of the equation?