Property Management
Schedule of Property Management Services
Advertising
• Print media (Post & Courier; locally distributed newspapers in property submarkets)
• Electronic media – All listings are posted on our web site at ChoiceRealtyUSA.com, 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 (pets, smokers) 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 South Carolina laws, the security deposit is deposited into a non-interest bearing escrow 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-bys are more frequent.
Maintenance
• Hire, oversee & approve all work orders on said rental. Independent contractors. Licensed, bonded and insured are used.
Statements & deposits
• Choice Realty provides a detailed income and expense report. Month and year-to-date totals are sent on a quarterly basis or annual basis.
• Rental income is mailed to the owner via online/electronic payments from a national banking institution.
SCHEDULE OF PROPERTY MANAGEMENT FEES
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.
2. Leasing Commission – One half of the first month’s rent.
3. Actual newspaper advertising costs.
4. Monthly Management – 10% of the monthly income per building.
