Single Family: 8%
This does not include tenant placement. We recommend that you offer a “bounty” to the agent who finds your tenant. This bounty or commission goes to one of 10,000 agents looking to place a tenant. That bounty rarely goes to one of our agents as we are looking for the most qualified tenant. That commission ranges from $100 to $500 depending on the magnitude of the rent.
Set Up Fee for Single Family / Condos / Townhomes – $100
There are no reserves and you can leave at any time. This is to get you up and running with photos, video, contracts, signs, keys, etc. We have vacant property options that can cost you extra and often recommended.
Multi Family Set up: $50 per door ($200 per door if it’s abandoned & full of squatters)
Many competitors hand over multi family properties that have been driven into the ground. If your building is out of control and full of squatters, we charge this up front as these take a lot of skill and determination to turn around.
Multi Family Monthly Management: $50 per door
We charge that regardless of occupancy. Vacant units are just much trouble as occupied ones.
Commercial Rates: $100 set up / $100 month for NNN leases.
Generally, we charge a flat $100 per month on a NNN lease with a $100 set up. We will charge up to 8% on commercial leases that are not NNN with new tenants.
Tenant Inspections or property walkthroughs: $100
We recommend keeping these to a minimum. Tenants have to get a 24 hour notice and they are not too happy about these. Use this with care. If we suspect something isn’t right at your property, we have ways of sneaking up on them for free.
Maintenance: $20 admin fee
We charge $20 for every maintenance event that includes getting before / after photos or video as well as the vendor invoices. These are stored on your property record for your review 24×7.
Tenant Placement: Varies
Generally, we recommend $300-$500 bounties for single family and $100 bounties for multi family. You don’t have to use our recommendation but that bounty goes to the agent who finds your tenant. Limestone Investments doesn’t make money on a bounty. We do not do Section 8. NEVER EVER.
Evictions – $100-$500
We pass these costs onto the tenant and/or take it out of their security deposit. If the tenant doesn’t pay us, then you will. 95% of our tenants come to Jesus on a 5 day notice. If they keep fighting us and we are unable to get this out of their security deposit, then you could be liable for these:
– 5 Day Notice: $35 – Door posting and certificate of mailing.
– Summary Eviction: $100 – Includes court filing.
– Court Appearance: $300 – Includes dressing up and waiting for hours on end.
– Lock Change: $250 – We change out the locks, provide a video of the property and an estimate for repairs.
Renovations / Rehabs / Major Events: $100
We charge $100 for major maintenance events that require multiple trades. This includes getting before / after photos or video as well as the vendor invoices. These are stored on your property record for your review 24×7.
Utilities or monthly recurring charges – $10
If you want us to manage your utilities, pool service etc, we charge $10 over invoice. We are totally ok if you manage this stuff yourself.
Lease Renewals – $100
We don’t recommend renewing leases as you will wake up sleeping dogs. However, if you want us to renew a lease, we charge $100 to chase down the tenant to sign a new one.
Yearly maintenance fee – $0
We are not sure why competitors charge this.
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