SCHEDULE OF PROPERTY MANAGEMENT SERVICES

 

 

Advertising

• Print media (We advertise in the MLS and give the owner the option of advertising in local major newspapers.)

• Electronic media – All listings are posted on our web site at ftipm.com and various rental websites. Pictures are attached to each listing.

• A “For Lease ” sign is posted in front of the property.

 

Tenant Qualification

• Prior to showings, prospective tenants are pre-qualified over the telephone according to the restrictions of the property (pets, smokers) and an appointment to show the property is made. If interested, application is processed and verified.

• Credit checks are run and previous rental history and employment are verified.

 

Security Deposit

• In accordance with California State trust law, the security deposit is normally $25-$50 more than one month's rent. Said deposit shall not be used as last month's rent.

 

Rent Collection

• Rent is collected on the first of each month as stated on the lease. Statements are not mailed to the tenants. A late fee of $25.00 is assessed after the fifth of the month.

 

Property Inspections

• Property management administrators will drive by the property periodically and conduct exterior inspections. Interior inspections are conducted if needed.

 

Maintenance

• Hire, oversee & approve all work orders on said rental. Independent contractors (Licensed, bonded and insured) are used.

 

Payments

• Any payments related to the rental property, excluding mortgage, insurance and taxes. Other payments (such as homeowner's dues and home warranty renewal) are in accordance with the owner's instructions.

 

Statements & Deposits

• FTI Property Management uses Property Boss, a state of the art management software which provides a detailed income and expense report. Reconciled account journals are sent to each property owner on a monthly basis.

• Rental income is deposited into a trust bank account set up for each property.

 

 

SCHEDULE OF PROPERTY MANAGEMENT FEES

 

 

1. Leasing Commission - 100% leasing fee each time a lease agreement is signed for each property.

2. Actual advertising costs.

3. Management Fee - A monthly management fee which is 10% of one full month's rent when property is occupied. A monthly management fee of $100 when the property is vacant.