Service and Fee Summary
Startup Requirements: A signed property management agreement, a direct deposit authorization to deposit funds to your account and the Maricopa County rental registration are required documents. Most cities require a rental tax license which we will help you obtain. A refundable balance reserve of $300.00 for each property is required to be held in your account with us.
Monthly Reports: Rent is collected from the tenant and deposited into our trust account. deposited directly to your bank account on or around the 15th of each month. Monthly reports are accessible on your portal through our website each month. We will also collect and file and pay the city or state rental tax requirements. You will also be sent an annual 1099 form for rental income with your year-end report of income and expenses to file with your tax return.
Management Fees: The management fee/agency fee includes the routine services of collecting the rent, accounting reports, move out inspections, responding to calls from tenants for repairs, and supervising those repairs. We are available and respond to the needs of your tenants and property 24 hours a day. The monthly management fee for most single-family houses is 8% of the rent collected. A move out inspection is included in the fee. Move in inspections are not included as the tenant does a comprehensive move-in check list. A move in inspection is $75.00.
Leasing Fees: Our leasing fee is 50% of the first month’s rent. This is charged when the property is rented to a new tenant. This is paid out of the first month’s rent after the lease is signed. This is based on a 12-month lease. The fee for renewing a new lease with an existing tenant is $100.00. Rental rates are reviewed annually, and you can recommend an increase should the current market support it. We guarantee the tenant to remain or replace them for no additional fee.
Security Deposits and Tenant Fees: Tenant security deposits are held in our trust account. When the tenant moves out an inspection is performed and any charges for damages owed to you will be transferred to your account at that time and sent on the monthly disbursement. We also charge tenants application fees, administration fees and late fees according to the management agreement and lease contract that we keep as fee income. We retain the right to make the final disposition regarding charges for damages, cleaning withheld from tenant deposits.
Maintenance: During a vacancy a property may need to have pest control treatments, cleaning, or landscaping cleanup to keep the property free from debris and to show well. Pre-emergent weed treatment spraying should be done on vacant properties with desert landscaping to prevent weed growth. We recommend that appropriate window coverings installed on all windows. We also recommend that all kitchen appliances be provided including a refrigerator. If the property is vacant more than 30 days, it usually needs to be cleaned before the tenant moves in. Carpeted floors need to be professionally cleaned before a tenant takes occupancy. The rental contract then requires that tenants have the carpets professionally cleaned when they move out. Please provide an electronic copy of any HOA CCR’s pertaining to the property so that we can have them available to tenants, as they are binding as part of the lease.
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