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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 & 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 & 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
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 up 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, as
well as 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, and all of
them are insured. 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
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!
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 & 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 & 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
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 up 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, as
well as 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, and all of
them are insured. 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
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 Management Services |
| Sorry, but we NO Longer Eviction Services: As of October 2009, TPS stopped offering this service. We will only do eviction procedures on homes that we currently manage. Leasing Service Only: TPS will no longer Lease a Home, and then the Owner Manages it. Selling and Leasing, Different Agencies We prefer not to work against a Realtor while they are Listing the home For Sale. |
Definitions
Rent Ready Fee is when the home
needs paint, carpet, cleaning,
carpentry or appliances. We can
gather estimates and supervise the
work performed in order to put the
home on the market or the owner
can provide the home to us market
ready.
Second Disbursements only applies
if an owner has more than one
property and if a resident pays rent
late. We disburse one equity check a
month to the owner, however, some
of our current clients are unable to
wait for all of the rent to be collected
and have requested a second
disbursement. For this reason, we
can do a second distribution for the
same month for an additional fee of
$10. Late fees paid by the resident
are transferred to the owner in its
entirety.
Rent Ready Fee is when the home
needs paint, carpet, cleaning,
carpentry or appliances. We can
gather estimates and supervise the
work performed in order to put the
home on the market or the owner
can provide the home to us market
ready.
Second Disbursements only applies
if an owner has more than one
property and if a resident pays rent
late. We disburse one equity check a
month to the owner, however, some
of our current clients are unable to
wait for all of the rent to be collected
and have requested a second
disbursement. For this reason, we
can do a second distribution for the
same month for an additional fee of
$10. Late fees paid by the resident
are transferred to the owner in its
entirety.