Property Management Agreement Form
Leasing Services & Fees
- Determine rent value
- Comparative rental market analysis
- Recommendations to enhance potential
- Photo & video marketing
- Internet exposure
- Contacts with Rental Relocation Services for Local Corporations
- Your property advertised in targeted venues.
Preview With Prospective Tenants
- Prescreen potential applicant(s)
- Schedule appointments and meet on site
- Employment and income verification
- Landlords’ references
- Review credit report/criminal/fraud/evictions
Preparation of Lease Agreement
- Draft contract to meet terms negotiated
- Facilitate signing and supply copies to the parties
Collect Move-In Funds
- Receive funds from tenant and deposit in bank
- Leasing commission is the equivalent of one month’s rent (which is roughly 8% of the yearly lease.)
- For each yearly lease that is extended there will be a $250.00 charge.
Monthly Management Services & Fees
- All of the paperwork is handled for you
- Provide monthly financial statements including copies of work orders and invoices
- Collect all rents and other income derived by the property. Monthly checks are cut and mailed or direct deposited on the 25th of the month
- Provide 1099 tax reports and year-end statements
- Keep you informed of property condition
- Perform move-in/out and periodic inspections
- Effect repairs per your instructions
- Contract independent vendor services on your behalf
- Address tenants’ concerns
- Administer tenant deposits
- Enforce all lease terms
- Initiate service on vacant or occupied property
- Cost: For day to day management, 10% of any monies that are collected in the clients behalf on a monthly basis.
Things You Should Know About Renting Your Home:
- Your property should be in the best possible condition to attract a quality tenant. It needs to be either newly painted or the paint needs to be in good shape with few areas of touch up. Neutral colors for walls and floors are the best. Blinds or shades are ideal window coverings. The carpets should be professionally shampooed, the inside should be “detail” cleaned and the yard needs to be in good shape.
- The competition determines the competitive rental ranges for your home. If the home is marketed too high the home will be vacant longer. You also don’t want to market it too low.
- Vacancy periods are market driven. There is also some luck involved in the right person looking at the right time. Homes rent more slowly between November through February Location and price also affect vacancy.
- Statistics indicate that 75% of renters own pets. Restricting pets reduces the number of available qualified residents. Pets should be screened and pet references checked out. In general, a well-behaved cat or dog causes less wear and tear on a home and a yard then a young child. An additional pet deposit per pet is recommended.
- Smoking should be restricted to outside of the property. A home that has been occupied by a smoker significantly reduces the marketability of the property.
- At Maple Leaf Management it is common practice for us to collect first month’s rent and a security deposit up front if the applicant has good credit. If an applicant has questionable credit but good references last month’s rent or an additional security deposit would be required.
Why Use A Property Manager?
- Industry Expertise: At Maple Leaf Management, we understand the industry and know how to stay ahead of the game. Our properties lease for the best market rates, saving you time while increasing your income potential.
- Negotiations with tenants: Potential tenants must pass our rigorous screening process. We have the experience to locate the qualified resident and timely complete the best rental transaction.
- Comprehensive understanding of the laws: There are many laws governing rentals, State and Federal Housing Codes and Fair Housing Regulations. We not only understand the laws but we keep up on current legislation.
- Accurate accounting reports: We provide monthly itemized statements and year-end tax summaries. Rent proceeds are mailed to you on the 25th of the month. Your owner statement and all documents are available on-line in your owner portal on the last day of the month.
- Periodic property inspections: Inspections during the lease period as well as move-out inspections are conducted.
- Enforcement of contractual compliance: We know the appropriate actions for handling any problems that may arise, including non-payment or other violations of the rental agreement.