House2home Properties is not the cheapest and definitely not the most expensive, but we provide the most value and get the job done. A 5% service charge will be added to the vendor’s invoice amount for homes that need to be made rent ready. Property management is a nickel and dime business. To be profitable, we need to be extremely efficient and keep properties rented.
We keep fees as low as possible. We believe that owners receive the highest value for all that we offer as a professional management company. This includes selecting materials and paint colors, hiring vendors, paying and scanning invoices, ensuring that the repairs has been resolved, carrying the necessary liability insurance and issuing 1099 IRS forms. These junk fees just rob the property of cash flow. We believe in total transparency, so all of our fees are listed below along with the reason we charge them. There are no other hidden fees for owners to pay.
Monthly Management Fee: The monthly management fee is 10% of the rent collected. If rent is not received, this fee is not due.
Multiple Property Discount: If we manage more than one of your properties, this fee drops to 9% for all of your properties.
(Note: For homes priced $3,000.00 a month or more, please contact us for a quote.)
Reason For This Fee: We charge this fee for the day-to-day management of the property and servicing the residents.
Lease/Tenant Placement Fee: A one-time lease-up/tenant placement fee of 50% of the first month’s rent to place a new tenant in the property.
Reason For This Fee: A considerable amount of time and expense goes into getting a property rented. This fee is for the expense and work it takes in marketing your property, producing videos and virtual tours, screening applications, scheduling property showings, securing a tenant, preparing a lease, meeting with tenants and collecting funds, etc. (Some property managers charge up to a full month’s rent as a lease fee, we offer a lower rate to increase the owner’s cash flow.)
Renewal Fee: This is an additional fee of $200.00 to renew the annual lease and keep the tenant in your property.
Reason For This Fee: This fee is for the work it takes to renew and retain a tenant including surveying the market for a rent increase, preparing the lease renewal letter, and getting ALL tenants in the property to sign the lease (which is not easy). We don’t use an addendum for renewing tenants, we create a brand-new lease for ALL tenants to sign. The reason we use a new lease over an addendum is because we have an attorney update our lease each year, to ensure we are in compliance with any new laws.
Move-In/Move-Out Inspections/Evaluations: A Property Evaluation fee of $99 will be charged to evaluate and document the condition of the property at the time a tenant takes possession of a property. Although we do two evaluations (a move-in and a move-out), we only charge for one.
Reason For This Fee: This is for the work and additional expense it takes to properly assess and document the condition of the property. Due to court decisions, no longer is it advisable to simply walk through the property with a new tenant and jot down the property’s condition on a form. We invested in special inspection software and 360-degree cameras to evaluate the property, which produces the necessary documentation with time-stamped pictures and video links. This solves the problem of tenants saying “it was like that when we moved in”. The complete inspection report will always be available in the owner’s portal.
Utilities Coordination: A one-time $25 fee per utility will be charged for House2home Properties to turn water and electric utilities on and off.
Reason For This Fee: This is for the time it takes to turn utility services on and off with the utility companies (who have frustrating hold times), for paying utility bills and deposits, and for depositing utility refunds.
Co-Brokerage Commission: In addition to marketing properties on several internet rental sites, we also list all properties on the MLS for maximum exposure. In the event that a Broker brings us a qualified tenant, House2home Properties will pay 100% of the co-brokerage commission owed to the Broker (usually a few hundred dollars). The owner is only charged a small $75 fee for processing the co-brokerage commission which includes completing the proper forms, processing commission checks and sending 1099 tax forms.
3-D Virtual Tour & Walk-Through Videos: Free (On Every Property)
24/7/365 Maintenance Coordination: Free (No maintenance markup on service calls)
Direct Deposit Service: Free
Internet Advertising: Free
Self-Showing Technology: Free
Attorney Drafted Lease: Free
E-Signature Services: Free
Online Owner’s Portal: Free
Online Resident Portal: Free
Online Rental Payments Service: Free
Online Rental Application Service: Free
Exclusive Applicant Screening Tool: Free
Monthly Email Owner Statement: Free
Annual Email Owner Property Financial Statement: Free
Default/Violation Notice Preparation: Free
Security Deposit Processing & Refund Disposition: Free
Renovations/Make Ready Coordination: When a property becomes vacant, we can coordinate an entire renovation to make a property rent-ready. Some renovations can be extensive, and we need to simply account for our team’s time with the following pricing.
Basic Make-Ready Renovation: $0 (This includes painting, cleaning and basic repairs for which there is no charge.)
Minor Make-Ready Renovation: $200 (This includes renovation requiring more than the Basic Renovation like new flooring and replacing or repairing fixtures like lighting, vanities, plumbing, fencing, etc.)
Major Make-Ready Renovation: $500 (This includes renovation requiring more than the Basic & Minor Renovation. This would include a capital expense like a complete bath or kitchen renovation.)(Note: The discounted rates that we receive from our vendors helps recover this charge.)
Reason For This Fee: This is for the work, additional insurance and expense it takes in renovating a property to be rent-ready. This includes selecting materials and paint colors, hiring vendors, paying and scanning invoices, ensuring that the repairs has been resolved, carrying the necessary liability insurance and issuing 1099 IRS forms. (Note: Coordinating repairs and dealing with vendors is like acting as a general contractor. As soon as we assign a vendor a repair, House2home Properties immediately takes on liability and requires additional insurance which is similar to that of a general contractor.)
Appearances: In the unlikely event that we need to attend HOA meetings or court hearings, a $200 fee will be charged to compensate for the time involved. These appearances are extremely rare.
Reason For This Fee: This is for the time involved in attending hearings. Again, these appearances are extremely rare.
Annual/Periodic Inspections: Rather than automatically performing annual inspections and charging higher management fees, we let the owner decide if they want an inspection done. Should the owner request a property inspection while a property is occupied, we hire a 3rd party inspector to perform a property assessment.
The reason we use a 3rd party for periodic assessments is because House2home Properties does not believe it’s a good idea for the property management company to perform inspections while a resident is occupying a property. Residents may feel like we are “checking up on them” and find offense when viewing things like unmade beds. It is important for us to keep good long-term relationships with residents. By hiring a neutral 3rd party professional, we remain neutral and less intrusive.
For this reason, should an owner request an inspection, we will hire a 3rd party to perform the property assessment who will quote us the price. The owner will receive a professional report documenting the condition of the property
Reason For This Fee: This is for the expense in scheduling and performing a professional property assessment, as well as producing a professional report. House2home Properties receives no compensation for this service.