Can monthly expenses be paid by PMS?
Yes. If the Owner elects to, PMS will pay monthly expenses such as the mortgage, insurance, taxes, HOA fees, utilities, etc. These expenses will be deducted from the monthly rent collected and the balance will be disbursed to the Owner. What are the fees for your services? PMS’ fees are as follows: Leasing – Fifty percent (50%) of the first full month’s rent plus advertising costs when signing a leasing a management agreement or one hundred (100%) of the first full month’s rent for leasing services only. Lease renewal – Twenty-five percent (25%) of first month’s rent should tenant renew their current lease. Management – Seven percent (7%) of the monthly rent, minimum of $75 per month. How long is your management agreement? Our management agreement is for a 12 month period. ACCOUNTING How often will I receive statements? PMS will provide monthly accounting statements including copies of any repair invoices and receipts. Owners will also receive yearly statements summarizing all activity
