Leasing & Property Management Services
In this context, “Leasing Service” refers to placing the Tenant and “Property Management Service” refers to any service provided by the Broker after the Tenant is placed.
Leasing Service includes advertising the property, showing the property, taking Applications, screening Prospective Tenants, negotiating on behalf of the Property Owner, and preparing the Lease for both parties to sign.
We will schedule showing service for your property with our REALTORS and Cooperating REALTORS. We will negotiate on your behalf, screen Potential Tenants, and prepare a Lease for both parties to sign online. The Tenant will bring the initial funds to our office in the form of Cashier’s Checks to start the Lease. Our fees are taken out of the initial funds provided by the Tenant.
For a Brokerage Fee of 50% or 100% of the First Month’s Rent, Birmingham Home Leasing will list your property in the local Multiple Listing Service (MLS) which will syndicate to Zillow, Trulia, Hotpads, Realtor.com, etc. If another Agent brings the Rental Customer that you accept, we will pay half of whatever fee you pay us to that Agent. Most Cooperating Agents anticipate to be paid 50% of the First Month’s Rent when they show a rental property. The commission rate is available for the Agent to see (not the public) in the MLS Listing. If you do not offer to pay a Cooperating Real Estate Agent 50% of the First Month’s Rent, then many will not show your property to their Customers. For that reason, 98% of Landlords choose our 100% MLS Rental Listing Service.
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 Condition Survey 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 Condition Survey just before the Tenant occupies the property and conducts a Move-Out Condition Survey 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
- $50 per quarter – HVAC Filter Inspection. With this service, the Broker will conduct quarterly inspections to take a time-stamped photograph of each HVAC filter. 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.