Property Management Fee Schedule & Price Chart
1. Set-up Fee: No Set-up fee for new accounts!
2. Ongoing monthly fee: 8% Note: industry monthly fees range from 10-20 percent. We may consider a flat fee based on the property type and size.
- Fee includes inspection of owner’s property on a rotating schedule of about 90 days on average, with photos and an email report sent to owners for free. Each month we routinely manage internal collection efforts as needed, where our staff makes phone calls and personal visits to each rental if needed to assure that rent payments are collected on time. Also, this fee helps pay for accounting of all owner funds and full service bookkeeping, with monthly reports and invoicing. Plus log entries must be made daily, weekly and monthly as needed for our tenant accounts, which are separate from owner accounts.
- In fact we include daily online updates for all of our owner and tenant accounts as needed, with the updating and posting of maintenance or repair work orders, plus calling utility companies for change over to a tenants name.
- spend additional time during the screening process as needed, to not only pay for top level professional screening of an applicants credit, criminal, civil and eviction.
- background check includes FICO score, S.S. number verification, & Fraud Alert.
- We also call the applicant’s job and landlord to confirm accuracy. We want GOOD and CLEAN people in our rentals, so we will go the extra mile to find good tenants!
3. Lease-up Fee –50% of 1st month rent only, for a new tenants only.
- No fee for yearly Lease renewals. Also, there are no fees for the next new tenant if a current tenant stays less than one year.
- This fee is only used to offset the initial upfront costs to obtain a suitable tenant.
- Costs will include paying a Realtor Fee when advertised on the MLS, plus we pay for various advertising costs, along with many employee hours spent marketing a client’s property and providing as many showings as needed with a goal of fast placement and acquisition of the best tenant possible.
4. Reserve – Owners Trust Fund – $200
- This is recommended but is also negotiable & refundable.
- These funds are generally used for Emergency Maintenance needs, such as flooding of kitchen or bathroom where we need to send out a repairman to turn off the water and mitigate or stop possible ongoing damage. The repairman or vendor will also assess the cause and report to our office so we can contact you the owner if needed to discuss our recommended remedy.
- Plus, at times we have to pay day-to-day operating expenses on behalf of property owners, such as HOA dues if required or late and having the lawn mowed when vacant. A reserve of $200-$500 is normal for single-family properties. Higher funding may be required for Multi-family properties depending on number of units in the complex.
- Any cost over $ 250 will result in a call to the owner for approval.
5. Lease Renewal Fee – No Fee! Many Property Management companies charge for renewal of an existing tenants lease.
6. Vacant Property Fee – $100 per unit flat fee that is charged out of the first months rent when the unit is rented; after a fully executed lease term. This fee includes weekly surveillance. If the unit is rented during the month, the fee is prorated.
7. Optional Administrative Fee – $75 once a year. A Year-end fee is assessed to each property to cover our extensive preparation of annual owner statements, with professional accountant reviews of all records and bookkeeping methods to ensure compliance with Federal and State laws. Plus, Federal 1099 Tax forms will be prepared and mailed out to all owners.
8. Property Inspection Fee – No Fee! Some Inspections can be very expensive. We do a photo and walk through inspection at the beginning of a lease, after 6 months and at the end, plus on-spot when upon owner request or if seen as needed when doing drive-by reviews.
9. Post Tenant Cleaning Services – all cleaning associated with making the property ready to be occupied. Cleaning includes but is not limited to, light trash removal and cleaning from common use. Cost is relative to the square footage of the property.
10. Eviction Costs/Fees – FREE for the first $200 in Internal costs, such as postings, letters to tenants and personal visits to collect etc.
* Full Evictions can cost owners from $200 to $900 if our own internal efforts do not succeed. Estimated average costs/fees include but are not limited to serving notices, Attorney fees, court appearances, evictions, etc. Process Servers and other hourly rates are typically $35-$65. We may use local Attorneys for our Evictions. Owners must pay for any and all eviction costs as needed.
- Optional Eviction Insurance – an additional monthly fee added to cover the potential for evictions (per unit). The fee is charged for the first full year of a lease term. After a year the funds are held in trust for a potential eviction on the unit. The amount collected shall not exceed half of the fees associated with initial filing, process servers, and default judgments
- Cancelation Fee – No Fee! * Exception: we require a 30 day notice in writing, plus vacancy fee if no approved applicant is present. *Note: If we have rented the property or have an approved applicant, then the cancellation fee is 50 percent of the first months rent. Your Property Management Services contract is extended on a month-to-month basis after the 1st 12 months but you may still cancel with 30-day notice in writing. Please see our downloadable Owner Contract on this website for more details.
- Unpaid Invoice Fee – No Fee! This is a service charge (typically1.5%) that is added each month to any unpaid invoices that are past due where owners owe us money.
- Bill Payment Fee – No Fee! Fee for making owner payments such as mortgage, insurance, homeowner’s association dues, etc. We do not charge a separate fee.
- Maintenance/Repair Fee – No Fee! When repairs and maintenance is needed, we are hands on with supervision of the task as needed. We negotiate with vendors for the best price on materials and labor. If we successfully execute an owner approved repair or maintenance, we generally need all the funds in full prior to the start of the work unless the owner has directed us to take the funds from owners account, which would need to have enough in it to cover these costs naturally. OWNERS MAY DO THEIR OWN MAINTENANCE
Lease Option – Or, known also as Rent to Own. These programs are same as FM / Full Management, with the exception that we act as your sales agent as well and will negotiate on your behalf with the tenant to purchase your home, normally within a one year period. Please note: we have a Fiduciary obligation to look out for your best interests as your agent and we will recommend to all renters/tenants that they have all documents reviewed by their own Attorney at their expense.
We will negotiate with owners for our fee prior to a sale. This is upon closing of a sale only and will receive no fee or commission on the sale if it does not materialize. You will have the right to accept or deny any and all such offers naturally. There will be some additional Escrow fees you will need to pay, roughly about 2% total, which includes the 1.78% tax. More details on request
NOTICE: A full 6% commission is charged when the sale is a Short Sale or sold to a buyer who is not a tenant and/or is not referred to Signature Realty Services by the owner of the property.
For Rent Application Packet (.pdf)
Rules and Regulations (.pdf)
Move Out Instructions (.pdf)
Key Turn In (.pdf)
Lead Based Paint Disclosure (.pdf)