Berkshire Hathaway HomeServices Georgia Properties - Property Management Division will locate tenants, collect rent, process lease renewals, handle maintenance repairs and all other lease issues throughout the term of the lease. All accounting functions, Trust Accounts, monthly statements, collections and landlord-tenant communications will be managed by The Property Management Division.

MANAGEMENT SERVICE FEES

The initial tenant procurement fee will be equal to one month’s rent. Subsequent lease renewal fees and multi-year lease fees are based on 50% of one month’s rent and do not need to be paid until the 13th month or at the beginning of each successive multi-year term. Tenant rental checks shall be made payable to Berkshire Hathaway HomeServices Georgia Properties and the first months rent shall be retained by Prudential Georgia Realty as its procurement fee. For your convenience, renewal fees and multi-year lease fees will also be retained from rental proceeds.

The Monthly Management Fee shall be the greater of $80 per month or 10% of the monthly rental proceeds. (Example:) A property renting for $500 per month will be charged $80 (the minimum) per month for management services. If the rent is over $800 per month (Example:) $1500 monthly rental at 10% will yield a $150. monthly management fee. For your convenience, the monthly management fee will be deducted from the rental proceeds and the property owner will receive the balance.

TENANT ONLY SERVICE FEES

If a property owner desires to manage his own property BHHS Georgia Properties will provide a Tenant Only Lease. BHHS Georgia Properties will advertise the property through it’s media sources at the owner’s expense, check prospective tenant’s credit worthiness, lease history, employment and income, write the lease, contact the owner to negotiate any lease contingencies, then turn the lease over to the homeowner. The owner will be responsible for scheduling and performing the move-in inspection and collecting the deposit. BHHS Georgia Properties will be available throughout the lease term for telephone consultation. The fee for this service will be an amount equal to one month’s rent, retained from the first month’s rental payment.

PETS

If the owner will accept pets, a “pet fee” will be required of the tenant. This fee is paid to the owner. The tenant shall sign a separate Pet Agreement at time of lease. This fee is in addition to the security deposit and is not refundable to the tenant and can be immediately used by the owner to help offset the procurement fee.

MONTHLY STATEMENTS

BHHS Georgia Properties will send its rental proceeds check to the homeowner, along with a monthly statement that will outline all rental income, expenses and accounting functions concerning this property. At the end of the year, a 12 month financial recap will also be sent to you for tax purposes.

PAYMENTS TO OWNERS ( Exclusive to BHHS Georgia Properties’ clients )

There is not a grace period in our lease. 98% of our gross rent roll is in house by the 4th or 5th day of the month. Our payment to you is by BHHS Bank Check, mailed on or about the 7th and usually received by the 10th, depending on U. S. Postal service delivery. This is much faster than most competitors, as we do not wait for the tenant’s check to clear the bank. For even faster service we will hand carry your proceeds to your local bank for immediate deposit into your account. You must provide pre-printed deposit slips for this purpose.

ADVERTISING

BHHS Georgia Properties will market your property through its various media and corporate account sources to obtain qualified tenants. Your property will also be entered into the First Multiple Listing Service computer for instant information distribution, and sharing among all Real Estate companies.

No advertising fee will be charged to the homeowner other than by agreement. Owners who request specific line ads will be billed the cost of the ad.

TENANT APPLICATIONS

An extensive tenant prescreening application will be completed and each tenant’s credit will be reviewed. We verify their employment and current rental history. A criminal background check is done on each applicant. We utilize a third party service to help expedite the process. Should a prospective tenant’s lease application and credit be questionable, you will be informed of the concerns and shall have the final decision. Each unrelated applicant shall submit a separate application.

RENTAL VALUES

For those owners who have not established the proper and competitive rental value, your agent will be happy to consult with you to establish a fair market rental value and lease renewal values based on current market conditions. He/she will provide comparable properties and information on recently leased properties to help you make an intelligent pricing decision. This service is provided to owners at no charge.

MAINTENANCE (for managed properties)

BHHS Georgia Properties will respond to tenant repair requests or Owner requested maintenance to keep the property safe, habitable and functional. We have developed an extensive service agreement network with qualified maintenance and repair vendors through our vast industry network and can assure owners and tenants of speedy, cost-effective repairs. A $300 repair reserve fund will be deducted from the next month’s proceeds after the procurement fee has been obtained. Minor repair invoices will be deducted from rental proceeds in the month following the repair in order to maintain the $300 balance. This fund will be returned to the owner when the property is vacated. More expensive repairs or expenses during vacancies will require funds on deposit before work will be scheduled.

VACANT MANAGED PROPERTIES

BHHS Georgia Properties can place utilities into BHHS’s name and arrange for minor repairs, cleaning, lawn maintenance, etc…A minimum of a $500 reserve must be place with BHHS Georgia Properties prior to our taking responsibility for any of these actions. For these services, a $50 vacant managed fee will be charged to the property each month until the tenant takes occupancy.

OWNER MUST PROVIDE

HOA Rules and Regulations

Two sets of keys

All applicable codes

All necessary remote controls

If applicable – Information on Elevator usage; Time, Deposit amount (if any), Parking spaces; how many, number of and location

REMINDER

Remember to contact all utility companies one or two days after tenant’s move in date to remove utilities from your name. Do not be concerned if the tenant has not contacted them at that point. That is not your responsibility.

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