Leasing & Property Management Services
Birmingham Home Leasing offers three levels of Leasing Services depending on how involved the Property Owner wants to be in the process:
- 25% of the First Month’s Rent – “Open” Listing – Owner advertises the property and shows their own property.
- 50% of the First Month’s Rent – “Open” Listing – Broker or Owner advertises the property, and the Broker’s Agents show the property.
- 100% of the First Month’s Rent – “MLS” Listing – Broker only advertises the property and only Licensed REALTORS® can show the property. This is an “Exclusive Right” Listing.
Leasing Service is defined as all of the services that are needed to find, screen and place a well-qualified Tenant.
Leasing Service includes:
- Advertising the property
- Showing the property
- Taking Applications from Potential Tenants
- Screening Potential Tenants
- Automatically declining unqualified Applications on behalf of the Property Owner
- Forwarding all qualified Applications to the Owner for review and approval
- Drafting a copy of the Lease for both parties to review and approve
- Presenting approved copy of Lease for both parties to sign online
- Requiring Tenant to provide the initial funds to execute the Lease in the form of Cashier’s Checks
- Lease Renewal
The Advantages of the Traditional MLS Leasing Service for 100% of the First Month’s Rent with 50% Going to Cooperating Agents
We are often asked how we find Tenants with such high credit scores and have never had an eviction. It is no secret that the answer to the question is our MLS Leasing Service. When you use our MLS Leasing Service, we offer 50% of the First Month’s Rent to the first Agent who can bring a qualified Customer. The Multiple Listing Service (MLS) is the local Broker Cooperative where Agents list properties for sale and for rent and offer commissions to other Agents for bringing the Buyer or Renter. Placing your rental property in the MLS for all Agents to show creates the sense of urgency and the fear of loss in Rental Customers that is necessary to quickly rent a property.
Optional Property Management Services
For the purposes of this discussion, we will define Property Management Services as optional and additional services provided by the Broker after the Tenant is placed. We charge a flat fee of $50 per month for Property Management Service.
Explaining Property Management Services
- Rent Collection Service. Includes collecting the rent from the Tenant and transferring it electronically to the Owner. Additionally included is Monthly and Annual Accounting plus filing IRS Form 1099.
- Move-In and Move-Out Inspection Service plus Escrow Service. Escrow Service refers to the Broker holding and being responsible to return the Tenant’s Security Deposit “according to Law”. The Broker conducts a Move-In Inspection Report just before the Tenant occupies the property and conducts a Move-Out Inspection Report immediately after the Tenant vacates the property. The comparison of these two reports provides the basis for the justification of possible deductions from the Tenant’s Security Deposit.
- Repair & Maintenance Ordering Service. When the Tenant notifies the Broker of the need for repair or maintenance services, the Broker will contact the Owner and obtain permission to order work estimates. All repairs and services are only ordered with the approval of the Owner.
Additional Property Management Service
- $100 per quarter – HVAC Filter and Lawn & Landscaping Inspection. With this service, the Broker will conduct quarterly inspections to take a time-stamped photograph of each HVAC filter and also take time-stamped photos documenting the condition of the lawn and landscaping. The Broker will also provide the Property Owner with a written report of the condition. This service is available to Customers who are using our Property Management Service.