Find Your Ideal Property Management Solution
Flexible Packages Designed for Every Owner
| SERVICES OFFERED | LEASING SERVICE ONLY | FULL SERVICE |
|---|---|---|
| Management Fee | NA | Starting at 8% of the collected rent |
| Monthly Minimum Fee: Minimum required to manage the property at the service level you choose. | NA | $90 |
| Tenant Placement Leasing Fee: Fee charged to place a new tenant in the property. | 1st Month Rent | 1st Month Rent |
| Professional Rental Rate Analysis: We will help you find the right rental price for your property in your market. | ✓ | ✓ |
| Advertising on www.therentalformula.com: Your property will not only be on our website, but will be sent out to potential tenants who have signed up for rental updates! | ✓ | ✓ |
| Professional Property Photos: We take professional photos to highlight the best assets of your property. | ✓ | ✓ |
| Comprehensive Tenant Screening: We screen for the following: criminal background check, credit history, eviction history, and income verification. | ✓ | ✓ |
| Lease Preparation with Digital Lease Signing: All leases will be signed electronically and stored within the Resident’s Portal and shared with the Owner. | ✓ | ✓ |
| Resident Move-In Property Inspection: The property manager or leasing agent will meet the resident at the property to do the move-in meeting and do a walkthrough of the property. | ✓ | ✓ |
| Marketing Video Walk-Through Tours: This is an option if you would like a video walkthrough and/or 3D floorplan. | N/A | Optional |
| Featured Advertising: This is additional advertising to promote your property and get it seen by more people. | N/A | Optional |
| Initial Property Set-Up: The set-up fee covers the cost of putting the property into our online system, portal account set up, security account set up, and owner payment set up. | No Charge | No Charge |
| Initial Property Evaluation and Benefit Analysis: Your property manager will go over the anticipated rental income, the anticipated improvements the property might need, and the best strategy to help you maximize your cash flow and protect your investment. | ✓ | ✓ |
| Up-To-Date Online Financials, Invoices & Reports: Digital reports are posted to your owner portal on the first or second work day of the month to view data and invoices from the prior month. | N/A | ✓ |
| Rent Collection: Digital reports are posted to your owner portal on the first or second work day of the month to view data and invoices from the prior month. | N/A | ✓ |
| Electronic Deposits of Rent Proceeds: Owner disbursements are made as an electronic deposit into your bank account on or around the 10th of each month | N/A | ✓ |
| Convenient Online Tenant Portal Access: During the set-up process, you will have an Owner Portal created for you and each of your properties. You will then have access to your owner documents, statements, and transactions. | N/A | ✓ |
| 24/7 Emergency Maintenance Hotline: When our main office is not open, you can be assured that someone is still answering those emergency calls. With a maintenance hotline and dispatch, we will have the problem fixed ASAP. | N/A | ✓ |
| Property Turnover: When a resident moves out, we will make sure that the property is professionally cleaned, that routine turnover maintenance is completed, and any potential issues or updates are identified. The flooring, paint, appliances, windows, etc… are typically what most owners would like updated between tenants. | N/A | ✓ |
| Enhanced Owner Portal: You will have access to all your reports 24/7! | N/A | ✓ |
| Monthly and End-Of-The-Year Financial Reports: A detailed report will be available each month and at the end of the year. | N/A | ✓ |
| Maintenance and Repair Coordination: For each maintenance request submitted, either online, through our 24/7 maintenance hotline, or a phone call, we will dispatch a licensed vendor to do the appropriate maintenance. | N/A | ✓ |
| Tenant Required Tenant Liability Insurance: We will require that the tenant carry Content and Liability insurance. This helps to cover the accidental kitchen fire or frozen pipe caused by the tenant. | N/A | ✓ |
| Annual Interior Property Inspections: We check the condition of the interior and exterior of the property. We are looking for damage, routine maintenance, and the general welfare of the property. | N/A | ✓ |
| Tenant Lease Renewal Fee: This is similar to the tenant placement fee and covers the expenses related to renewing the lease. | $320 | $320 |
| Additional Services: Fees for any additional services to be provided by your property manager and/or The Rental Formula that are not stipulated within your management agreement. Representation at court hearings, rent board hearings, depositions, homeowner meetings, property tax assessment appeal hearings, insurance claim-related paperwork and estimates, for cause inspections, hearings, and other related events are not covered by the monthly management fee. If Agent renders these services, Owner shall reimburse Agent for their time at the rate of $75 per hour, with a one (1) hour minimum, to be billed at thirty (30) minute intervals after the first hour. A full accounting of billable hours will be provided to the owner. | ✓ | ✓ |