Fees for Services – Moore Trust Group

SO WHAT DOES IT COST FOR OUR SERVICES?

CONTRACT SETUP FEES:

One-time fee ranging from $300 to $500
- Covers the cost of:
  - Creating an account for bookkeeping purposes
  - Initial property inspection
  - Tenant review
  - Overseeing a vacant property (additional fee)

OUR MONTHLY SERVICE FEES:

Monthly fee of between 8% to 12% of the monthly rent collected

Example: if rent is $1,200 per month, property management fee would be $120 based on an average fee of 10%

MANAGING VACANT PROPERTY:

Leasing fee of one-half to one month of rent
More labor-intensive for property management company due to potential for unexpected problems
Property manager visits property at least twice a month to minimize risks

EVICTIONS AND COLLECTIONS:

Fixed eviction fee of around $500 plus any applicable legal fees
Collections agencies and attorneys charge collections fee of about 50% of money collected if eviction case goes to court and judgment is awarded

REPAIRS AND MAINTENANCE:

Fees based on cost of repair or maintenance work provided

ROUTINE INSPECTION FEES:

$100 Fee will be charged for routine inspections of the property

CONTRACT TERMINATION FEES:

May be an early contract termination fee if contract is terminated before agreed upon term
Amount of fee can vary and may range from one month of lost income to the management company to a lawsuit for breach of contract

OTHER FACTORS THAT MAY AFFECT PROPERTY MANAGEMENT FEES:

There are several factors that can impact the property management fees that a landlord pays, including the type of property, its size, condition, neighborhood rating, pricing model offered by the Moore Trust Group, and market competition. Single-family rental properties, multifamily buildings, and short-term rental properties may have different management fees based on the number of units, square footage, or number of bedrooms. Older properties may require more maintenance and repairs, which can increase the management fee. The neighborhood rating can affect the quality of tenants and level of maintenance required, and property management companies may offer full-service or a la carte pricing options. The level of competition in the market may also affect the management fees landlords pay.