Dear Owner,
Thank you for your interest in Tina Gibson Property Management. Please review the information below.
My Fees / My Services /FAQs
Owner payments will be sent via ACH; I ask that you provide a voided check. Once I have a fully executed management agreement and the setup fee paid, I will visit your property and give you a detailed report on what needs to be completed to find a qualified tenant.
Fees
- Setup Fee: One-time $250, regardless of the number of properties.
- Reserves: $1000 per property.
Single Family Homes & Condos
- 8% of the monthly rent for Berkshire Hathaway Home Services clients
- 10% for all others
- Minimum $100 per month
Multiplexes & Apartments
- 9% of monthly rent for Berkshire Hathaway Home Services clients
- 11% for all others
- Minimum $100 per month
Leasing Fee
- $600 (covers both outside and inside leasing agents)
Services
- Bi-weekly updates on vacant properties
- Quick response to all inquiries and complaints
- Documentation of all property activities
- Advertising on over 50 sites, including MLS
- Regular syndication and agent showings
- Professional photos of properties
- 24/7 online access to property information
- Direct deposit for owner payouts
- Tenants can pay online (ACH, credit card, or cash at 7-Eleven)
- Owners have access to an online portal for monthly statements
Market Analysis
- Aggressively fill vacancies
- Adjust rental rates to align with market changes
Maintenance & Repairs
- Use of third-party contractors and vendors
- 30-day billing for all repairs
- Inspections for major repairs/renovations
- Licensed, bonded, and insured vendors
- Multiple bids for repairs to ensure savings
Full Property Accounting
- Year-end tax reporting statement and 1099s
- Monthly financial statements
- Trust accounting management
Rent Collection
- Rent is due on the 1st; transmitted to landlords within 10 business days after collection
- Legal notices for non-payment of rent
- Professional eviction processing
Bill Pay
- We can handle payments for utilities, HOA, property taxes, and other invoices on your behalf.
Inspections
- Monthly drive-by inspections
- Thorough move-in/move-out inspections
- Midterm inspections for occupied properties
Application Process
- Full online application system
- Comprehensive background and criminal history checks
- Verification of rental history and employment
- Detailed screening of all tenants
FAQ
1. How long will it take to find a tenant for my property?
It’s difficult to give an exact number since it depends on the home's location, nearby rental properties, and the time of year. Properties generally rent faster in the summer, while November and December can be slower. On average, it takes about 30-60 days during other months.
2. What is the management fee?
- Single Family Homes & Condos:
- 8% per month if purchased through Berkshire Hathaway Home Services
- 10% per month for other properties
- Multiplexes & Apartments:
- 9% per month if purchased through Berkshire Hathaway Home Services
- 11% per month for other properties
- Minimum fee: $100 per month
3. Is there a fee for finding a tenant?
Yes, we charge a $300 fee, which is deducted from the first month’s rent. For properties renting over $2,500 per month, the fee will be reviewed.
4. When will you assess the property and let me know about any necessary improvements?
Once the Property Management Agreement is signed and the setup fee is paid, we will inspect the property at your request.
5. Will I still be responsible for HOA fees, trash, and annual sewer bills as the owner?
Yes, the owner is responsible for these bills. We can help process any payments for you, but you must update the billing addresses and provide the information to our bookkeeper.
6. Should I keep my home warranty, and who is responsible for the service fee?
Yes, it would help if you kept your home warranty. According to our lease agreements, tenants are responsible for the $75 service fee. Ensure that your policy covers appliances such as the washer, dryer, refrigerator, and water softener if applicable.
7. What types of repairs or maintenance are covered?
If you have a home warranty, it will typically cover appliance repairs, and tenants will pay their service fee. The landlord is responsible for any remaining costs.
8. What are my upfront costs?
There is a one-time setup fee of $250. We also offer discounts for multiple properties.
9. Can I cancel the contract if I’m unhappy with your services before a tenant is found?
Yes, but there is a termination fee of $300 if no tenant has been found. If a tenant has already been placed, the fee is $500, plus a management fee for the remaining time on the lease.