SCHEDULE OF PROPERTY MANAGEMENT FEES AND SERVICES

1. One-time bookkeeping set up fee, to be established per property.
For single family homes the fee is $45.00.
For 2-6 unit buildings the fee is $65.00.
For 7-15 unit buildings the fee is $85.00.
Anything larger is negotiable.

2. Leasing Commission (Qualifying Tenant) – 10% of the first month’s rent.

3. Monthly Management - 9% of the monthly income per building.

SCHEDULE OF PROPERTY MANAGEMENT SERVICES

Advertising
• Print media (neighborhood newspaper rental is located)
• Electronic media – All listings are posted on our web site, Craig’s list, and various other web sites. Pictures are attached to each listing.
• A “For Rent” sign is posted in front of the property.

Tenant Qualification
• Prior to showings, prospective tenants are pre-qualified over the telephone according to the restrictions of the property owners (pets, smokers, etc.) and an appointment to show the property is made. If interested, application is processed and verified.
• Credit and criminal background checks are made. Previous rental history and employment are verified.

Security Deposit
• In accordance with NC State trust law, the security deposit in the amount of one months’ rent is deposited into a non-interest baring trust account. Said deposit shall not be used as last month’s rent.

Rent Collection
• Rent is collected on the first of each month. A late fee of $50.00 is assessed after the fifth of the month.

Property Inspections
• An interior inspection is made the first six months of each initial tenancy. Inspections will continue if needed. Exterior drive-byes are more frequent.

Maintenance
• Hire, oversee & approve all work orders on said rental. Independent contractors
Licensed, bonded and insured are used.

Payments
• Any payments related to the rental property, including Mortgage, insurance, taxes, utility billings, homeowner’s dues, in accordance with the owner’s instructions.

Statements & deposits
• A summary income and expense report is provided on a as-needed basis
• Rental income can be mailed to the owner or deposited into a bank account

Compensation of Agent from Other Firms
• 10% of the value of first month’s rent