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Fees and Expenses
Fees are calculated on property type, condition,
rental income, and what basic services are required. Rental Service Fee: An amount equal to ten percent of the annual rent due and payable upon execution of a lease agreement. Monthly Management Fees will range between seven and ten percent ( or $100.00, whichever is greater) of the monthly rental receipts. The fee will be deducted from the monthly rent collection, or deducted from the reserve account.
With the exception of emergencies and regular maintenance programs, all additional services must be requested by Owner. Definitions: Administrative Services: Include, however are not limited to: Contact and set up appointments on behalf of Owner for contractors to perform relevant repairs or services to the Property; Contact to occupant for setting up set up appointments on behalf of Owner (if required); Progress reports of repairs, Contact to local attorneys; Contact to currant occupant for payment (if applicable), etc... Supervisory Services : Include, however are not limited to: Supervise any labor, handyman services, contractors and companies; Supervise repairs, alterations, replacements, and improvements; Check and confirm completion of any repair or maintenance done to the Property; Opening doors to meet contractors or any other person sent by Owner; Representative requiring to remain on the property; Additional inspection visits Delivery of Notice: Include, however are not limited to 3 day Notice; Repair Notice; General Notice to tenant, Required notices posted on the property or hand delivery to tenant. Photographing Property: Subject to accessibility, digital photos taken and submitted on a compact disk and sent by mail to Owner. This will include interior photographs, exterior photographs, when applicable, property inspection photographs of the general condition. Property Inspection: RealVantage® will submit a report form upon completion of the inspection. In the event that any problems are noted at the premises, RealVantage® will forward a standard inspection form outlining the problem. Report forms will be sent by standard mail, electronic mail service or by facsimile to Owner. All inspections are subject to accessibility. Charges: Billing will be for a minimum of one hour. Any services exceeding one hour will be billed in 1/2 hour increments. Administrative Services: $25.00 base fee. $ 15.00 per each additional 1/2 hour Supervisory Services : $65.00 for the initial hour. $25.00 per each additional 1/2 hour Trip Charge / Delivery of Notice : $65.00 to $95.00 Photographing Property: $7.50 Plus shipping and Postage charge ( plus Trip Charge) Fee per additional inspection visit $65.00 to $95.00 exterior or interior, subject to the accessibility. Wire transfers : or special transfer requests will be subject to additional bank service charges (plus Administrative fee ). Any services outside of normal business hours (9:30 AM until 4:30 PM), Monday through Friday, including weekend service, holidays and emergency service will be billed at an additional $15.00 per hour. A 24-hour notice is required for all requested services so there is not any interference with existing clientele services. We understand emergencies and would be happy to work with you to make sure we can meet your needs. RealVantage requires a 24-hour notice for all and any cancellations pertaining to any scheduled visits. Failure to cancel services outside the 24 hours will result in a full service charge. Any cancellations for service before the 24-hour period will result in a $15.00 cancellation fee. |