Property Management Services Pricing
- Acquiring Tenants
- Marketing Properties
- Screening Tenants
- Lease Signing / Lease Negotiation
- Handling Maintenance Request
- Monthly report of each property and annual summary report
- Responding to tenant concerns and handling maintenance issues
- Project coordination for major projects if needed
- Brokerage Services - Purchase / Sale of Property
Our traditional management rate is 8.5% of monthly income generated for most single-family residences, townhomes, condos and duplexes. Our minimum management fee is $95 per month / per unit, or 8.5%, whichever is greater. If there is a property that will require additional supervision a higher rate may be required. Please contact email@example.com to request a specific quote. Welch Randall will provide an analysis of each property prior to the beginning of management.
If you have a property that features 3 or more units please contact us for a property specific quote.
Once an owner utilizes our services for five or more properties we discount the service 1% monthly.
- Collection of Monthly Rent
- Move-in Inspection - Initial walk-through of property to determine needs to make the property rent-ready and market ready
- Move-out Inspection upon move-out of tenant
- Collection and Distribution of Security Deposit according to Utah Law
- Monthly owner financial summary reports
- Communication to and from tenants. If you are hiring a PM they are meant to be the communication resource between parties
- Authority to negotiate lease terms
- Authority to collect rent and other fees
- Preparation of notices to resident
- Owner access to software portal
- Owner access to annual trainings, events and education events exclusive for Welch Randall Clientele
- Discounted brokerage fees for listing or purchase of properties as desired
- Communication with Welch Randall team as needed
How are Owners Paid?
We pay our owners between the 10th and 15th of each month. The vast majority of our owners receive payment through an electronic transfer and disbursement. There is a small fee for an electronic transfer for our software transfer fee costs (typically the fee is $3 - $5 per transfer). Owners can have paper checks mailed to them but there is a paper check administrative fee charged (typically $10 - $15 per check).
How do Residents Pay Rent?
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. We currently split all late fee revenue with our owners 50% / 50%.
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
Marketing, Advertising, and Screening
- 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?
- Tenant Contact Info
- Tenant Lease Info
- Security Deposit
- Keys, Etc.
- Move-in Reports, etc.
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 $250.00 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.
- Finding & Contacting the vendors
- Scheduling the vendors
- Coordinating payment of vendors with you
- Meet vendor onsite (if needed)
- Visiting property when all the work is completed to verify it's done and the property is "Move-In Ready"