Property Management Agreement
Evaluation of your Home for Rental Readiness (Free of charge for management and marketing agreements)
10% of the monthly rental amount or a minimum of $80.00 a month.
The Full-Service Management Fee covers the following services:
- Evaluating your home for rental readiness
- Comprehensive marketing of the rental property
- Coordinating opportunities for potential tenants to view the home
- Screening tenant’s credit, criminal, and landlord history
- Tenants sign a North Carolina Real Estate Commission approved lease
- Collect rent and hold tenants accountable for obligations under the lease
- Organizing necessary repairs on your property
- Accounting for your funds received from tenants and distributing them accordingly
- Provide you with monthly statements and end-of-year tax forms
- Manage the eviction process, if necessary
- Evaluating your home after a move-out to provide professional advice on the disbursement of the tenant security deposit
- Advise you on necessary action to return the home to rent-ready condition
- Follow Federal Fair Housing laws.
Leasing the Property
40% off first month’s rent per lease. (12 month minimum)
15% off one month’s rent after lease is renewed.
The services provided in leasing the property include:
- Prepare and execute documents for leasing
- Provide a market analysis for the property
- Address rent-ready issues
- Install signs and lockboxes
- Develop property information handouts
- Take digital photographs for the web
- Post in Multiple Listing Service, Zillow, Trulia and other internet hosting sites
- Maintain call center and leasing agents
- Coordinate showings
- Process applications
- Run background checks
- Negotiate Lease Terms
- Negotiate contingencies
- Prepare Lease Documents
- Schedule a pre move-in wipe down
- Manage the Move-In Inspection
- Collect the security deposit
- Issue keys
- Remove sign and lockbox
- Process the Paperwork
- Notify owner for utilities
Townsend Real Estate can advertise and place a tenant in your property, without managing your property.
Our marketing agreement is for the hands-on landlord that is willing to handle the day-to-day management of their rental property.
The marketing agreement has a fee equal to 1 month’s rent and consists of:
- Marketing the property on all major websites including our own
- Screening the tenant for credit, criminal, and landlord history
- Signing a lease with the approved applicant
- Collecting the first month’s rent and deducting our fee
- Collecting security deposit to be transferred to landlord
- Introducing landlord and tenant to establish relationship
*If repairs are needed between Townsend tenants, there is no mark up.
When Townsend first takes in a property, if maintenance is needed, there is a 10% markup on any maintenance that is not cleaning, carpet cleaning, or lawn care.
Managing Normal Maintenance
The cost of managing normal maintenance breakdowns (issues under $500.00) is included in our monthly management fee and there is no extra charge for managing small issues.
Managing Rehab, Renovation and Restoration
Rehab, Renovation, Replacements: 10% Rehab Premium (non tenant damage)
Townsend will obtain 2 estimates for work. Each additional estimate will cost $50.
On a vacant unit, owners can use anyone to oversee and manage large projects (generally items over $500.00). When they ask us to manage the large projects there is a 10% Rehab Premium (10% of the cost of the project is paid to the manager to get estimates, manage the work, oversee quality controls, address cleanup/warranties and invoicing issues).
*When the owner oversees these large projects there is no charge.