| We Manage Conventional or Section 8 Houses, Duplexes, Townhomes, Condos, and Apartments in Greensboro, Jamestown, and High Point, NC. Management Fees A Flat Fee while the home is vacant and a Percentage Rate when the home is Occupied. The Flat Fee is $50 and the Percentage Rate is 10%. The owner will need to make an owner's contribution of $200 on a vacant property. Click here for a W-9 Form In Addition to the Flat Fee or the Percentage Other Fees: Rent Ready Fee....$150 (When the home needs to be made Rent Ready!) Second Disbursement, same month $10, only for Owners with multiple properties Advertising: TPS advertises our rental properties by placing a sign in the yard, and by marketing the home on MLS and the Internet. Since we are Realtors, we are able to list homes on in the rental section of MLS. Should we need to specifically market a property in the newspaper, the owner of the property will pay for this advertisement. Fortunately, we have success leasing our properties without this additional cost. However, our best form of advertisement comes from our current and past residents. We have a quarterly newsletters that are mailed to all of our residents with a list of vacant rental properties. How is the Property Shown? Our office is Open during the week from 10 to 5. And in the High Season, we are open on Saturdays from 12 to 3. A prospect will visit our office with a valid State ID, make a small deposit for the key, and then complete a Guest Card. Once the prospect returns with the key, the deposit is returned. Should an owner wish for us to accommodate any prospects, we will do so for an additional $5.00 per showing. Prospects Fee(s): $35 Application Fee per Applicant $0 Administration Fee $200 Pet Fee per pet (if the owner allows pets) The Security Deposit is typically one month's rent or less & is placed in a non-interest bearing Trust Account. (This can only be used at the end of the lease agreement for damages or unpaid rent. If the resident leaves in good standing, the security deposit is refunded.) Credit & Criminal Background Checks: Since we are members of the National Tenant Network, we screen all applicants credit & criminal record, as well as confirm his/her income. Prospects with a Section 8 Voucher are not required to pay the Application Fee since they are already approved applicants with the Housing Authority. This applicants' paperwork is generated by the Greensboro Housing Authority. The application fee cannot be reimbursed to denied applicants since the services have to be paid regardless. Discrimination The Property Source, Inc, will NEVER discriminate against the 7 Protected Classes: Race, Religion, Color, Creed, Gender, Family and/or Handicap Status However, we can discriminate against: Smokers, Prospects with Pets, Age, Poor Credit & Criminal Records, Past Evictions Pets Should an owner allow cats & dogs, the maximum allowance is 2 pets per home. We charge a $200 pet fee per pet that is transferred to the owner in its entirety. This fee is due when the pet enters the home. When is Rent Due? Rent is due on the first of the month and the resident can pay rent until the 5th of the month with no penalty. After the 5th at 5:00pm, rent is late, and a 5% late fee applies. The 5% late fee is the maximum legal amount, and can only be charged one time in a month. When rent is collected, any maintenance invoices are paid, the management fee is paid, and the rest of the money is disbursed to the owner. Owner Disbursements: The first month rent is collected, a maintenance fund is established of $250 or less. We typically disburse between the 10th and 20th of the month again depending on when the resident paid. All owners should receive his/her disbursement by the 25th of each month. The time of disbursement will vary each month depending on when and how the resident pays, and if there is a Holiday and the banks are closed. We mail a ledger, check, and any original maintenance invoices to the owner monthly. Should these invoices be misplaced by the owner, and we are requested to resend these items, there will be an additional charge of $5.00 per invoice. Maintenance: Resident are to contact our office in writing or by phone for all maintenance requests. The Lease Agreement explains maintenance procedures, and the Quarterly Newsletters reiterates this. TPS can fix anything under $250 according to the management agreement. However, should there be an emergency situation, we will do what is necessary to protect the asset, as well as the resident's livelihood. We have preferred vendors that we use. Should the vendor find that the asset was neglected, abused, or misused by the resident, the resident's account will be charged, this money is demanded, and the owner will be reimbursed for this expense. What do I need to do to get Started? 1. Complete a W-9 Form (A form can be found at the top of the page) 2. Make a $200 Owners Contribution made payable to The Property Source 3. Complete and sign the Property Management Contract (We can email) 4. Please print this page and sign here which acknowledging that it was read. Owner: _______________________________________ Date: ___________ Once all forms and monies are received, we will execute the contract & will start marketing your investment for rent! |
Property Managment Services
| Since 2005 |
| The Property Source, Inc |
| $1,300,000 |
| $294,900 |
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