We handle all phases of Property Management
Rent Collection * Tenant Selection
24 Hour Emergency Repair Service * Advertising * Evictions
Mold & Lead Addendums * Notarized Leases
Section 8 and Cash Tenants * Filing of all utility affidavits
Multi-property discounts
Property Management Fees:
A fee of $150* per property is required when signing Management Agreement for properties that are rehabbed and rent ready. This fee covers advertising, using newspaper, print media, internet and radio. We also advertise your property with local Housing Agencies. Fee incl. tenant screening, including credit checks, employment and rental history verification. We will also advertise rental property at best313rent.com, Michigan Housing Locator, Craigslist, and other online rental sites. If you desire, we will also advertise your property with local housing authorities that place Section 8 tenants. At the time the property is rented, our commission fee is equal to one half the monthly rental amount. Thereafter, GPM retains 10% of rental amount per month.
If the property is already rented at the time of management agreement signing and the tenant is current with rental payments, then there is no administrative fee. However, if the tenant is behind, there will be an additional fee of $100 to cover administrative costs.
Note:
Sign Up Fee for a Single Family Home is $150.00
Sign Up Fee for a Two-Family Home is $225.00
Sign Up Fee for a Four Family Home is $375.00
For Apartment Buildings - please contact office for pricing
If home needs substantial work, the management fee is $150 monthly until rehab is complete. If GPM is doing repair work, then the monthly fee is waived. Example: If GPM is managing property, but ABC construction is handling repairs our fee is $150 monthly until the property is "Rent Ready." This fee covers gas, time and expense spent meeting with contractors, coordinating inspections, meeting with insurance agents, etc.
If the owner uses Grace Property Management to manage ten (10) or more units, the management fee shall drop from ten percent (10%) to eight percent (8%) of collected gross revenues.
Reserves: We hold a $500 reserve per property for repairs. All repairs will first be approved by property owner unless of an emergency nature.
Waiting for Utility Company: $50 (incl. up to three hours). $10 hourly thereafter.
