Fee Schedule Summary*Summary of Services
Fee Schedule Summary
Frequently Asked Questions
1. Management Fee - Ten percent (10%) of monthly rental amount.
2. Late Fees - Paid by tenant depending on jurisdiction – normally 5% of monthly rental amount. This fee will be retained by the Property Manager to cover the added costs of collections of delinquent accounts.
3. Credit Reports - $25.00 per tenant over the age of 18 years. Paid by prospective tenant
4. Advertising Costs - Unless the owner has listed the rental property through Goldstar Advantage Realty or Goldstar Select Realty, owner will be responsible for all advertising costs. By listing the rental unit with Goldstar Advantage Realty or Goldstar Select Realty, the property will be entered into the multiple list system and made available to over 30,000 real estate agents state wide. The owner will be charged one month's rent for this service – normally this amount will be split with the broker that provides a qualified tenant.
5. Reserves - Minimum of $200.00 Reserve from Owner to be maintained during duration of the property Management Agreement. This is the recommended amount. However, it can be negotiated on a case by case basis.
6. Tenant Renewal - $50.00 per adult tenant paid by owner.
7. Processing Insurance Claim - 5% of the gross claim or $25.00 whichever is higher.
8. Funds Advanced - Any funds advanced by Property Manager shall bear interest at 18% Per Annum - Compounded Monthly.
9. Early Termination of Property Management Agreement - 30% of all gross rents due and unpaid under the lease in effect at the effective date of termination to be paid by owner.
10. Early Termination of Tenant Lease - Fee will be split 50/50 between Property Manager and Owner.
11. Other Compensation - $50.00 per hour plus expenses for any attendance by Property Manager for proceedings on behalf of owner, e.g. eviction proceedings, rent court attendance, etc.
12. Agreement Term - Agreement will be in effect for 12 months from effective date – The agreement automatically renew for 12 month period if notice is not given by the owner at least 90 days prior to the lease termination.
* The above is intended to provide a high level summary of fees for the Property Management Services of Goldstar Advantage Realty and Goldstar Select Realty. Please refer to the Property Management Agreement to confirm all fees, terms and conditions.