Property Management Services Pricing
Our traditional management rate is 8% management fee for all single family, duplex properties. Our minimum management fee is $75 per month / per unit, or 8%, whichever is greater. Once an owner utilizes our services for five or more properties we discount the service to 7% monthly. Each month as rent is paid we would deposit funds into a bank account for you electronically or we can send you a check. Most of our homeowners prefer to have the funds send electronically because it arrives at them faster.
Residents have a five-day grace period to pay rent from the first and then a 10% of the monthly rent late fee is charged to them. Please note if a property is going to require a higher amount of supervision the landlord does have the right to negotiate a higher PM fee. The vast majority of our properties can be managed at 8%, but, some properties require extra effort or the owner asks for extra services which would merit a higher PM fee.
Marketing, Advertising, and Screening
There is no start-up fee or initiation fee to engage our services. However, if you have us screen tenants, advertise, and hire a leasing agent to show the property there is a marketing or lease-up fee. The lease-up fee is 50% of one month's rent up to $800.00. For example, if a property rented for $1,000.00 and the renter moved in on July 15, the first full month's rent would be August 2018. Therefore, the marketing fee of $500 would be charged at that time. If you have a property that rents for more than $1,600 monthly the most we would charge is $800. This covers the following:
- Screening of Tenants
- Professional Photography of the property
- The hiring of Leasing Agent
- Advertising on 60+ Websites
- Signage for property
- Text and phone service for interested parties
What if you already have a tenant in place?
If you already have a tenant in place but would like help managing the property we can transfer everything over to our lease, etc. for $99.00. We will make sure the landlord agreements are in place correctly and get them on our lease documents.
What if you want to show the property but just want help with screening?
Not a problem. If you want to show the property and then have potential applicants apply through our portal and be screened using our proven methods we can absolutely do that. The cost for this service is $149.00 and the fee covers screening, signing of the lease and getting the new tenant setup in our system. Please note if the # of applicants on the property exceeds six persons additional screening fees may apply.
Programs and Fees
Resident Fulfillment Program Fee
It is our desire to help each of our residents enjoy a safe and peaceful residency at our rental properties. Welch Randall works with a variety of vendors and services to help provide the highest quality of service possible to all of our residents. Each month, residents pay $15.00 per month, in addition to rent, towards this program. Please note the program cost is $25.00 per property, not per resident. Program features include the following:
Air Filter Delivery - Each quarter, a personalized filter for your HVAC unit will be delivered to your rental unit for each of our residents. We have found if residents change their filters quarterly the air quality in the property can drastically increase and utility costs can be lowered $5 - $15 per month. Welch Randall has partnered with Filter Easy, the Country's #1 Filter Subscription Program to provide this service.
Utilities Concierge Service - Welch Randall has partnered with a company called Citizen Home Solutions to help you connect utilities to your rental property. This revolutionary utilities service helps residents connect major utilities and can provide recommendations for satellite, internet and other additional services as desired. Please note there may be restrictions on what types of amenities (satellite dishes, internet, etc.) can be provided in various rental properties
24/7 Maintenance Access - Access to 24/7 Work Order Maintenance, including after-hours phone number and 24/7 online availability
Access to AppFolio software program for online payments and other account features. Welch Randall employs a maintenance coordinator to help coordiante maintenance requests and also partners with third party companies to help make sure maintenance requests can be responded to in a timely manner.
Enrollment in our Resident Advantage Program - This program helps renters learn more about how to prepare to buy a home down the road and how to build your credit scores and connect with lenders. Welch Randall is one of only three companies along the Wasatch Front to participate in this program. Updates and opportunities will come to residents via email, text and phone periodically during the lease term.