✓ Management Fee – 8% of Gross Monthly Rent (minimum $80)
✓ Admin Setup Fee – One time fee of $299
✓ Tenant Placement Fee – $200
✓ Referral Fee – $250 paid to referring agent
Where many local property management websites tend to burry or vaguely display their fee schedules, our property management fees are straight forward and competitive.
Plantation charges an initial setup / admin fee of $299.00 and 8% per month (minimum $80), which covers all other management and accounting responsibilities.
Our minimum reserve requirement is only $250.00 (depending on square footage), which we collect to cover the immediate costs of minor repairs and maintenance work.
Here Area A Few Ways Plantation Management Will Save You Money:
1. No Tenant Renewal Fee -
Where most property management companies will charge an average of $100-$300 if a tenant renews their lease, Plantation does not have a fee.
2. Maintenance / Administrative -
Plantation does not charge miscellaneous fees to coordinate the repairs. And based upon our experience in the area, many of our vendors and maintenance contractors tend to give us volume discounts.
3. No Advertising Fee -
As a benefit to our landlords, we do not charge extra fees for online advertising and marketing.
Between a series of strong search engine marketing campaigns, single property web sites and an aggressive Craigslist advertising schedule, Plantation’s online presence has a proven history of getting properties rented within 20-45 days.
Obviously, if you request offline advertising, such as newspapers or other related print classifieds, those charges will be passed back to the landlord.
Keep in mind though, many of our rental properties have been successfully rented out strictly from our overwhelming online presence, as well as through existing tenants.
Accounting Services:
Plantation's landlord, tenant, statements, banking, monthly payments… and all other secure and sensitive information is managed through our property management software.
Plantation will provide you with a detailed report each month that breaks down all income and expenses for your property.
All invoices and receipts for any repaired items as well as any correspondence on your property will be included in each report.
These reports will be sent to you no later then the 15th of each month.
Owner proceeds will be disbursed by the 10th of each month by direct deposit.
Your rental income will be deposited into your bank account on or before the 10th of every month, unless the tenant pays late.
Your accounting statement will be ready by the 15th of every month by email.
In the event you already have a good tenant accustomed to paying with personal checks, we will continue to honor this arrangement until the tenant moves, defaults on the rent, or writes a bad check.
On the morning of the sixth (end of the grace period), we serve a "THREE DAY NOTICE TO PAY OR QUIT" on any property for which we have not received the rent. We notify the owner on the 6th day to report a possible problem and that we are in the process of serving the proper notice. No excuses, no exceptions.
Tenants are personally contacted at work or at home and are given two options: (1) they can bring the payment and late fees immediately to our office or (2) they must vacate the property immediately, and turn in all keys. If they refuse both of these options we start the eviction process and the account is turned over to our eviction attorney and we file a formal eviction notice.
Once the eviction process has begun, the owner is contacted regularly with progress reports. The bottom line is, when a tenant doesn't pay they must be dealt with quickly and legally. Time is money when a tenant is in default.
We apply legal and financial leverage with clear communication to the tenant. The average eviction takes about forty five days from the day it is filed. Our goal is not to harass the tenant, but to keep the property occupied with stable tenants, additionally we do not collect management fees while your property is in rent default.