We charge two fees and two fees only.
1. To rent your property we charge ½ of the 1st month’s rent. You pay nothing in advance. We take our fee from the move-in monies. You do not pay for advertising or other charges related to renting your property.
2. For continued management we charge a percentage of the rent collected. That percentage will vary with the type of property and the rent amount. It will range from 5% to 8%. For most single family properties the percentage is usually 6%.
How do our fees compare to other Management Companies?
Most companies charge a fee to rent the property. In some instances it is a flat fee. It is usually 1/2 of the 1st month’s rent. The same as our fee. If it is lower it is most likely that they have other fees or charge a higher monthly percentage. Be sure to find out all of the possible charges.
All management companies charge a percentage of the rent ranging up to 10%. Our fee levels are very competitive.
Fees many other companies charge that wedo not:
* Set-up fee
* Renewal fee
* Move-out fee
* Maintenance oversight fee
* Court appearance
Management Company vs Traditional Real Estate office
A traditional Real Estate Agent generally works with buyers and sellers. These agents can also list property for rent. They usually charge 6% of the firsts year’s lease. They will list your property in the MLS (Multiple Listing Service). They and other agents can show your property. If another agent secures the tenant, the two agents will split the commission. These agents generally are not interested in the continuing management of the property on a monthly basis. After a tenant is secured, they will turn the property over to you and you will be the one dealing with the tenant.
Your other option is a Property Management company like ours. We will rent your property and continue to manage it on a monthly basis. We will be your agent dealing directly with the tenant so you do not have to. Management companies generally have more experience in the tenant screening process.
Please call 909/596-9488 or email to Rentals@CornerstonePropertyMgmt.com for a quote.