Property Management Cost and Fees with El Dorado Houses for Rent

At El Dorado Houses for Rent we want the cost and fees associated with our property management to be clear. Our goal is to develop partnerships with our clients. A partnership with the tenant and the owner of a home. Building this trust and transparency allows clients to grow their real estate wealth from a single home investor to a portfolio of rentals properties. This relationship generates the income and possibility to trade up or roll a 1031 exchange into a larger portfolio or apartment property as your real estate assets gain in value.

We are transparent with our fees from day 1 because we do not compete with our rates. At El Dorado Houses for Rent, we know that we will add more value to your investing experience than you will pay us, or what our competitors can provide. We know this relationship will work at these rates because we own real estate property and are successful at it.

Our fees include everything you need to take your mind off your real estate investment so you can work on acquiring more real estate. Keep in mind that managing a home that rents for $1,500/month is not much different than one that costs $700/month, so why charge so much more in management fees?

House / Home / Apartment Management Fees

  • 7.0% of collected rent
  • We cap our monthly residential fees at a maximum of $125/month per leasing contract, but also a minimum of $50/month.
  • Leasing Fee for Property Management: 50% of 1st months rent anytime a new tenant is placed in a property.
  • Lease Brokering is 100% of 1st months rent.

Building / Storefront / Commercial Property Management Fees

  • 4-6% of collected rent (depending on property type & cost to rent – not applicable to small offices inside a building)
  • Minimum commercial leasing fee shall be 1 month’s rent for a new tenant and ½ month’s rent for a renewal.
  • Lease Brokering is 100% of 1st months rent.

Property Maintenance and Remodel Renovation
Our maintenance team provides professional, licensed, and insured maintenance work that is done right the first time. The El Dorado Houses for Rent, property management team, focuses on long term solutions, not temporary fixes, that demonstrates a life cycle savings approach. These updates or maintenance paths produce faster turnover times between leases, lower tenant turnover, and higher returns through increased tenant desirability.

  • $20-30/hour for El Dorado Houses for Rental Maintenance (90% of work orders)
  • $55/hour for remodels (includes 2-3 people)
  • Re-Key Fee: $40/door
  • Property Management Maintenance Markup Fee is 10% of 3rd party vendor invoices (electrician, exterminator, etc)
  • 5% markup on supplies unless a credit or debit card is on file for purchases at Sutherland’s, Menards, Lowes, and Home Depot.

+1 316.323.8728

 

info@ElDoradoHFR.com

 

El Dorado Houses for Rent LLC of Butler County Kansas © 2020