- Management Referrals
- Showing Our Properties
- Our Application Process
- Holding Fee (EMD)
- Transaction Payments
Have questions about a specific service and our corresponding process?
Please hover over an icon below for an overview or click on it for in-depth information.
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Many agents are being contacted by investors wanting to buy rental properties. We recommend focusing on what you’re good at, listing & selling properties, and refer the management to us!
Why Refer Your Clients to Us?
We Pay Referral Fees
How does it work? We pay 25% of one month of rent, based upon your client signing a 12-month management agreement with us.
You Keep Your Clients
We don’t steal clients as it would quickly destroy our credibility. Any client you refer to us for management, is referred back to you for additional purchases or sales. We focus on property management, not buying & selling real estate.
Reduce Your Liability Exposure
You also get to avoid all the compliance & legal headaches of property management. What potential compliance issues?
- E&O Insurance Exposure: We’ve sat down with real estate brokers who weren’t aware their agents were managing rental properties without their approval – and they were not happy because their E&O Insurance wasn’t setup to cover potential property management claims.
- Handling Rental Related Funds: Many agents don’t realize that just like any collected EMD and purchase funds must be processed through their broker, any funds they handle for a rental property, including rents & maintenance payments, must also go through their broker. Otherwise, an agent could face disciplinary actions by the board or state against your real estate license.
If you think buyers can be difficult to deal with, wait until you deal with prospective tenants! Oh, and the smaller commissions can really make your effective hourly pay ridiculously low. We have economies of scale to efficiently address this issue.
Also, do you really want to handle maintenance calls or chase tenants for rent payments?
Showing Our Properties
Yes, we coop with agents! Please email us your broker and agent IDs, register your client’s name with us to protect your Right of Procurement, and we’ll schedule a showing for you and your client.
We understand some of our competitors don’t follow the rules and give out lockbox codes without verification. We hope you understand we’re serious about doing things the right way and will cooperate accordingly.
Our Application Process
Please make sure your interested client(s) follow our online application process here on our website. This will only be an immediate transaction for you, but we will have to manage the tenant for the length of the lease and meet our owner client’s expectations.
Our application process has a pretty straight-forward list of requirements for all occupants 18 and over:
- $25 nonrefundable application fee
- Fully completed online rental application for the targeted property (no blanks please).
- Copy of acceptable state picture ID and social security card.
- One most recent paystub showing YTD numbers.
- Most recent W-2. If 1099 or otherwise self-employed, 1040 tax return (all pages).
- Most recent bank statement, all pages, no blacked-out information.
- We require written explanations and potentially acceptable documentation for any adverse issues.
What typically causes the most delays is completing verifications of rent with the last 2 landlords. Your client can speed that process up by supplying an acceptable rent ledger or their proof of rent payments.
Holding Fee (EMD)
Just as a buyer must submit an EMD with their offer, we require a Holding Fee from an approved applicant to hold a property until their MoveIn Date. The Holding Fee is equal to one-month of rent and is nonrefundable once they are approved. This confirms they are serious & won’t change their mind.
In place of a purchase agreement, we require a Holding Fee Agreement be signed by your client. It is also one of our requirements that all Holding Fees be held by our brokerage.
Once all required MoveIn Funds are paid and a lease fully signed, please send us your broker’s bank ACH information, so we can pay electronically. We do not use paper checks.
All payments are paid to brokers, not directly to agents.