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23 February 2025 | 3 replies
Many HOA's have approved vendor lists or at minimum require insured vendors who provide insurance certificates.
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26 February 2025 | 13 replies
Management & Leasing FeesManagement Fee: 10% of the monthly rent = $180/monthLeasing Fee (Tenant Placement): 60% of one month’s rent = $1,080 (one-time)Lease Renewal Fee: $250 per lease renewalUpfront & Annual FeesOnboarding Fee: $350 (one-time for setting up the property)Annual Administrative Fee: $45 per year (for statements and 1099s)Reserve Fund Requirement: $300 (held for maintenance and expenses)Maintenance & RepairsOrdinary Maintenance: Any repair costs exceeding $300 require owner approval.Emergency Repairs: Up to $300 without prior approval; HVAC, plumbing, and electrical repairs can go up to $500 without approval.Home Warranty Claim Handling: $40 per claim (if applicable).Multiple Quotes Request Fee: $100 per request if you require multiple vendor quotes.HVAC Filter Supply Fee: $195 per year per HVAC unit.Repairs & Improvements: 10% markup over vendor invoice cost.Additional FeesInterest on Unpaid Sums: 10% late fee with a $39 minimum per month.Paper Check Administrative Fee: $20 per check if not using direct deposit.Insurance Documentation Penalty: $40 per month if proof of insurance is not provided.Eviction Protection Program (Optional): $15/monthProperty Damage Protection Program (Optional): $25/monthTermination FeesEarly Termination Fee: Equal to the management fees for the remaining lease term.Vacant Property Termination Fee: $500 if no tenant is in place.Transfer to Another Manager: $500 file transfer fee.
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17 February 2025 | 6 replies
(The vendors give a quote, usually discounted for being a PM client and if I approve I pay amount, no extra fees/surcharges/etc.)For this I get GREAT and immediate service.
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23 February 2025 | 5 replies
I would love to give you any insight possible as well as point you in the right direction for vendors as well!
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24 February 2025 | 9 replies
In the 5 years you've operated your rental SFR portfolio have you used licensed and insured contractors/vendors?
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19 February 2025 | 3 replies
Good point - At least in FL, since I am licensed I can pay to the other agent's broker legally.We pay the same regardless if it is an RE agent or not, i.e. we pay that same rate to friends, family, current clients, vendors, etc.
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11 February 2025 | 4 replies
His admin calls the vendors if it is something he and his crew can't handle.
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11 February 2025 | 25 replies
Enter a maintenance request, assign a vendor, attach a fake invoice.
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14 February 2025 | 3 replies
I own a 17 unit apartment building near Minneapolis built in the 60s and wanting to implement wifi camera system and modernize the access panel (wifi managed).Any vendor recommendations?
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15 February 2025 | 2 replies
., etc.One thing I could argue is to have your tenants ONLY email you, especially for maintenance requests, and that email goes directly to the vendor that you have set up to handle it.