A: We charge a fixed $750 as a lease up fee and 6% - 8% of rent collected each month. Effective from 02/2024
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Q: What are your management fees?
Plan 1 Plan 2 Plan 3 No. of units under our management 1 unit 2 units 3 or more units Per unit monthly rent - sample $1,500 $1,500 $1,500 Management commission % 8% 7% 6% GOR - one time tenant finding Fee $750 $750 $750 Management contract term 1 Year 2 Year 2 Year Lease term - months 12 12 12 Collected Rent per year $18,000 $18,000 $18,000 Owner Income per year $15,810 $15,990 $16,170 Please note that actual per year rental income may vary based on the amount of repair expenses on your specific rental property but we will keep the expenses as low as possible with our innovative and diligent repair management approaches. -
Q: Do I have any property management agreement renewal fees when an existing property management agreement expires?
A: There is a small fee of $500 for property management agreement renewals. Best way to avoid this fee is to sign multi-year agreement. Effective from 02/2024
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Q: Do I have any management fees when an existing tenant renews the lease?
A: There is a small fee of $500 for lease renewals. Effective from 02/2024
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Q: Do I have any management fees when my property is not rented?
A: No, we don't charge a management fee unless you have a paying tenant.
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Q: You have a property I want to rent. How do I apply?
A: You can find an application to complete on our website.
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Q: When are my rental proceeds paid to me each month?
A: We process your direct bank deposit on the 10th of each month and you usually receive it 1 or 2 days later in your bank account.
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Q: Will I get updates on how my property is being marketed for rent?
A: Yes. When you have a vacant property we will email you once a week with information on the amount of showings, calls, emails and applications in process for your property.
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Q: Do I get to decide who rents my property?
A: We want our owners to be in as much control as they want to be. With Galaxy One Realty you have the ability to approve your new tenants by discussing their qualifications prior to leasing or you can let us use our expertise and let us do it all.
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Q: How do you retain great tenants?
A: We value our tenants as much as we value our property owners. We have a special tenant loyalty program in place designed to attract and retain the best quality tenants.The best tenant is the one who will stay in the property for years, paying rent on time,while taking great care of your home.
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Q: How do you qualify tenants to rent my home?
A: Our proprietary tenant approval guidelines allow us to approve more qualified tenants than other property management companies. This means we get your property rented faster.
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Q: Can I use my own vendors for repairs?
A: Absolutely. You can use your repair people or ours.
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Q: Do you charge a fee for repair management?
A: No. We don't upcharge or add anything to the cost of your property improvements.We don't have in-house repair people to upcharge you that way either.
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Q: Do you charge to take over management from another company?
A: No. There is no charge to you for assuming management duties from another property management company.
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Q: How long of a lease do you sign?
A: We typically sign 1-2 year leases.
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Q: How much security deposit do you charge the tenant?
A: Typically equal to one month rent.Rarely we will hold a deposit equal to 2 months rent if deemed appropriate.
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Q: How much money do you hold for small repairs needed to my property?
A: We retain $300 from your first months rent to hold for small repairs to your property that may arise as needed.
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Q: What type of properties do you manage?
A: We manage single family homes, Condos and apartment complexes.
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Q: What type of reports do I get and how often?
A: We email you monthly income and expense reports.
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Q: Do you offer discounts if you manage multiple properties for me?
A: Yes. Please call us to discuss.