Rent to Own
Many of our customers offer their properties for “Rent to Own”. This means you are giving your tenant the option to buy the property at a price you determine up front. There are MANY prospective tenants searching for opportunities like this, and they would be eager to buy your property. We have a program set up to help these tenants succeed in buying a home, while providing you with a better-than-average sale price for your property.
What Are Your Responsibilities As Property Owner?
- Pay property management fees as agreed to in contract
- Pay all expenses associated with leasing and maintaining property, including materials and handyman labor.
- Obtain any rental licensing required by local municipality (we can help with this)
- Pay expenses associated with owning the home
(mortgage payments, association fees, etc.).jpg)
- Maintain home in condition that makes it marketable and desirable to renters
- Fees and Services
- Service Price Features
Full Service Leasing 75% of first months rent
(Includes advertising and showing property)
- Market property to prospective renters
- Process tenant application (including thorough background check)
- Sign lease with tenant
- Collect security deposit
- Manage tenant move-in, including filing move-in checklist to record property condition
- Management: Monthly service fee is 7% of the monthly rent.
- Collect monthly rent, including pursuing late payments
- Provide management and labor for property maintenance
- Communication with tenants regarding maintenance and leasing issues
- Walk through property after move out, obtain necessary repairs and refund security deposit to tenants
- Provide quarterly financial statements to owner
Basic Services & Fees
- Vacant Property Management Fee 0%
- (A portion of the Leasing fee is due when the agreement is signed and is
applied to the Lease when the property is rented. This helps to cover
the advertising expenses and putting it on the market. (IT'S NON REFUNDABLE) - Leasing Fee: 75% of first months rent
(A portion of the Leasing fee is due when the agreement is signed and is
applied to the Lease when the property is rented. This helps to cover
the advertising expenses and putting it on the market. (IT'S NON REFUNDABLE) - Lease Renewals 0% of first months rent
- Monthly Management Fee 7% of months rent
- Maintenance Issues $300.00
(This amount will be held in an escrow account for emergencies and will
collect 1% interest) This is due when lease is signed. - Outside Maintenance Actual cost; no contact fee
(Most management companies will charge you a fee to call a contractor if
they cannot remedy the problem themselves) - Supplemental Newsprint Advertising Depends on paper and length
(No service fee to submit ad) of ad - Our Management Services $30.00 / hour
- Owner Account Distribution: Owners receive a detailed monthly statement on or about the 10th of each month. The preferred method is by email to help save cost for both parties. Auto EFT distributions or debits are made monthly on or about the 15th, subject to balance and distribution minimums. *EFT is foremergency funds transfer if any maintenance was provided for the month.You will be notified within 24 hrs if and when repairs were made.
- NOTE: The above services and fees are subject to change. The Real Estate Property Management Service Agreement shall contain the current services and fees in place at the time of the agreement. (Revised 04/14/2008) ThianProperties LLC
Contact us with your questions:
