Nov 092010
Landlord Responsibilities
As a landlord you will be responsible for the following expenses;
- A one time account set up fee of $250, this includes initial advertising, as well as setting up the property on our accounting system, digital photos, etc.
- The initial reserve fund setup of $300 (negotiable), this reserve is used for maintenance issues as they arise.
- Maintenance, utilities, cleaning, and repair costs that might occur while the property is vacant.
- A tenant placement fee of $250 for each tenant placed. (This charge limited to 1 placement fee per year if a tenant doesn’t complete their lease)
- A monthly management fee of 10% (negotiable)
Other landlord responsibilities include;
- Maintaining the inside and outside of the property for the duration of the tenants lease which means replacing refrigerators or ovens, if needed, and fixing leaky roofs, broken pipes etc.
- You as the landlord are responsible for the cost of all repairs and maintenance due to general wear and tear, old age, etc.
- We also recommend that you put aside each month a percentage of the monthly rent to cover future maintenance and repairs (painting, leaky roof, carpet, flooring, etc) or any unforeseen problems that may occur.
- The tenant is of course responsible for damages caused by the tenant.
- Giving the tenant the appropriate notice (usually one-month) before terminating the rental agreement.
- Giving the tenant the appropriate written notice (usually 24 hours) before performing inspections of the property.
- Removing or arranging for all items to be removed that may become damaged by the tenants, prior to renting the property.
- We strongly recommend that you remove all valuable items prior to renting.
- We would find it helpful if you would provide us with a list of the locations of all utility shutoffs.