SERVICES

Property Management

We offer management services for single family homes, duplexes, triplexes, quadraplexes, and other apartments in Tallahassee, Florida. Full Service Management Our Full Service management arrangement provides you with hassle-free ownership and lets us handle all of the day to day management details. We are constantly performing market surveys in the area to determine the rental rate and provide the following services. • Set up the Marketing and Advertising. • Set up the maintenance and cleaning to get your rental unit ready for rental. • Provide the Leasing to find a qualified Resident. • Handle the Rent Collection. • Handle the Resident Relations. • Set up any required Maintenance. • Handle the security deposit administration at Move-out.

Management Fees

Our typical management fees are ten percent (10%) of the income for management, plus an initial leasing fee of one-half of one month's rent. The leasing fee is reduced to $200 for subsequent leases and $100 for renewals. We offer some discounts for multiple rental units as follows: Initial Leasing Fee 1/2 of One Mos. Rent. (Min. $400) and then monthly management at the listed rates below. Units 1-4 5-9 10 + Mgmt. Fee 10%/mo.* 9%/mo.* 8%/mo.* *(Min. $50 per unit/mo.) Subsequent Leasing Fee $250 Renewal Fee $150 Our typical Management Agreement includes a term of one year. One-Time Rental Service For those owners wishing to manage their own property but wanting our assistance in finding a qualified Resident we offer a One-Time Rental service. We perform a market survey to determine the rental rate in your area, set up the Marketing and Advertising, provide the Leasing to find a qualified Resident, and turnover the day to day management to you. Our typical One-Time Rental Agreement includes a fee of one month's rent or $500 whichever is greater. Back to Top

Owner Statements

Owner's statements and checks are generated on the third week of each month. Each owner receives a full account of the property's activities during the month. An annual cash flow report is provided at the end of the year, along with any documents necessary to prepare your tax returns. Back to Top

Marketing Your Rental Property

As an Investor's Choice client, you benefit from continuous marketing of our rental inventory. This may include the following: • Listing on investorschoicellc.com. • Listing with other rental websites to maximise exposure. • An availability list is distributed by fax, mailing and hand-outs. • A yard sign is placed on the property. • Flyers are posted. • Advertisements are placed in the local newspapers. There is no additional charge for advertising except for specific ads requested by the owner. Back to Top

Leasing Your Rent Property

Pre-leasing is used extensively to minimize vacancy losses. The prospective residents must meet certain minimum criteria . An extensive background check is performed on each applicant : • Verifiable income must be at least three times the monthly amount of rent or a responsible party (typically a parent) must cosign the lease. • A credit report which must meet a minimum standard , is pulled for each applicant. • Previous and current landlords are interviewed. • Employers are interviewed. • A criminal background checks. A refundable security deposit is collected. It is retained in a non-interest bering escrow account on the owner's behalf and the amount held is reported each month on the Owner's Statement. Residents sign one lease agreement together, making all parties jointly and severally responsible for all terms and conditions. Back to Top

Property Turnover

When a new resident takes occupancy, they complete a Property Inspection Form. Upon moving out, any differences in the property's condition are repaired as necessary and charged to the previous occupant's security deposit. Typical owner expenses for a unit turnover include re-keying and possibly painting (often Touch-up). Investors Choice does not charge additional fees for move-out inspections. Back to Top

Rent Collection

Rent is due on or before the first day of each month. A five-day grace period is allowed before charging late fees. If rent is unpaid on the sixth day of the month, a Three-Day notice is delivered to the resident. Upon expiration of the Three-Day Notice, if rent is still delinquent, an eviction may be initiated. The cost of performing these activities is covered by tenant late fees. Back to Top

Maintaining Your Rental Property

Investors Choice does not collect a surcharge for maintenance work. Maintenance work is preformed by independent contractors. Investors Choice does not have a financial interest in these contractors. Due to the large amount of work that Investors Choice provides to its vendors we often receive discount rates. All discounts are passed on to our owners. If maintenance requests are due to damage done by the resident, or neglect, they will be charged accordingly. The charge will be placed on their account, due and payable with next month's rent. An emergency reserve, typically $300.00, is maintained for each unit. This reserve belongs to the owner and is accounted for each month on the Owner's Statement. Copies of all repair invoices are maintained and are itemized on the monthly Owner's Statement. All records are stored and may be accessed at any time by the owner. (An additional fee may be charged for mailing invoice copies). Back to Top