It will familiarize you with the basic terminology and benefits.

They charge me 7% for the basic guaranteed rent service (along with the listing fee) and then if they do manage any of the tenant work orders there is an additional fee on top of that because I only signed up at the lowest level where owners manage work orders. 

In Madison, and I assume your market, we have always had discount broker options to basically just get your listing on the MLS and not much else as well as sellers just exposing it to the market themselves off the MLS and hoping to maybe pay no buyer agent commission, where the buyers have no agent they are working with or the buyer agrees to pay their agent directly. 

Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

But those figures do include the onsite-manager, who basically just pays a discounted rent in exchange for doing the onsite-manager duties.

We're still a ways off doing any transactions, and when we do I can probably figure out the basic financials on my own.

Basically, they have the right to spend up to $500 without your approval, so you cannot really stop them from doing so.

@Mary Umoh, have you looked at the basic financials of this conversion?  

And for sure in the BTR products that are basically built fast and to much lower standards than our builds I can see issues with that product. 

My A class that I own I self manage I have a RE agent that puts them up they find a tenant I require 700 plus fico so that weeds out 90% of renters and then I set them up on auto pay and if they have an issue we send handyman.. to be fair my units are basically new construction and townhouses in HOA's in the Desert ( vegas) so there simply is not a lot of maintenance. there is A class in every city its just that investors get so focused on  positive cash flow they dont buy those for rental purposes so they miss out on the best rental tenants.. the higher the cash flow on paper the lower the quality of the units.. its a fact..