Welcome Investors and Homeowners!
I appreciate your interest in Golden Key as your property manager. Recently, many people have found that Golden Key was the solution they needed when they couldn't sell their home, didn't like managing their own properties or when they were tired of dealing with their current property manager.
In an effort to help you decide if Golden Key is right for your situation, I've highlighted some frequently asked questions that people ask our staff.
What are your fees?
Our fees vary depending on the investor/homeowner and property. However, in general, our fees are as follows:
-
1/2 first month's rent of new tenant placed by Golden Key for a "lease-up" fee.
-
10% of gross rents collected month two through the end of the tenancy with a minimum of $50 per month.
-
10% management fee on any maintenance or construction items we subcontract to independent contractors
-
10% fee on all materials purchased for maintenance or construction.
-
Market hourly rate for any Golden Key employee's labor for construction or maintenance items. Current rate is $50 per hour (no 10% fee is added on top).
-
50% of late fees.
-
Asset management fees quoted upon request.
When do I get paid?
Typically rent is late on the 3rd or 5th of each month. Once we've collected the rent, we attempt to cut owner checks and statements on or about the 10th of each month.
Do you keep a reserve for maintenance expenses throughout the month?
Yes, we keep a $100 per property reserve (with a $500 minimum) in the account to handle unforeseen maintenance items throughout the month. In the event maintenance continues to exceed that amount, we reserve the right to review this amount and adjust accordingly.
We also provide asset management for select clients. This includes paying the mortgage and insurance on a monthly basis. In the event we provide this service for you, the reserve amount may be different.
How long have you been doing this?
We've been managing property for others about two years now. We initially began in the business by managing our own property (four years ago). However, we saw the need in the market for a professional manager and decided to offer our services to others that had a high expectation of management staff and a need for detailed accounting systems.
How many properties do you manage?
We currently manage about 160 properties.
I'd love to speak with you regarding your property. Please call or email me:
Matthew Whitaker
(205) 940-6363 ext. 1002
|
