Q: Are your fees spelled out so I can understand how much they will cost? Are they competitive?
A: Our management contract is very specific about our fees and charges. We need to be competitive in order to continue as an industry leader.

Q: How much are my monthly management fees?
A: Your total fees depend on a lot of different factors. Are we paying your mortgage? What bills do we pay for you? How much is your property renting for? Are we advertising property for you? These and other considerations determine the amount it takes to runs your property each month, Generally, we charge a percentage of what your property is rented for and pay any agreed-upon bills out of the rent collected. We also make sure that an operating reserve is maintained so that if any problems arise, you have some protection. There is also an hourly rate of $45 and up for services not outlined in the contract. We will obtain your prior approval for such services. Money over and above the reserve will normally be sent to you in a Cashflow check or deposited in an interest-bearing account as you direct.

Q: Do I have to pay if my property isn't rented?
A: Normally you would only pay us our management fee if your property is rented. The only costs to you during the vacancy would be advertising and a lease-up fee after we have located a long-term resident for you.

Q: Are there any start-up costs?
A: There is normally a one-time $100 origination fee to cover the administrative expenses of setting up your new account, inspecting your property and running rental comparables to establish the optimum rental range.

We also require a reserve to cover anticipated and/or emergency expenditures. If we pay the mortgage for you, a sufficient balance should be kept in your account to cover one month's mortgage payment.