What Kind of Fees Can I Expect From Arbors Management?

What Kind of Fees Can I Expect From Arbors Management?

by | Apr 15, 2022 | Blog, Property Management Education, Rent Collection, Rental Price

What Kind of Fees Can I Expect From Arbors Management?

Every property management company has a different way of working and a different way of charging management fees. 

For example, you might hire a management company that charges one flat rate, or you might find a property manager who charges separately for every service that’s performed.

At Arbors Management, we have three all-inclusive fees. We do not like to piecemeal our costs, and we don’t have an upcharge on our maintenance services.

Today, we’re talking about our three fees upfront and what all you can expect when you work with us. 

These fees are also similar to many of the fee structures you’ll find with property management companies in and around Pittsburgh.

 

Leasing Fees in Pittsburgh

Our leasing fee is the equivalent of one month’s rent, meaning the first month of rent that we collect for you will pay for our leasing services. It’s a one-time fee that’s paid at the beginning of the lease.

This fee covers everything involved in finding and placing a great resident, including:

  • Marketing your property
  • Showing your property
  • Rent pricing
  • Preparing the property for rent 

We’ll also handle the application process and screen each resident thoroughly and in compliance with the fair housing laws.

Once we’ve approved a resident, we’ll take care of:

  • Collecting the move-in funds
  • Conducting a move-in inspection of the property to document its condition
  • Executing the lease agreement

 

Management Fees in Pittsburgh

Then, you’ll have the monthly management fee, which is typically 9 percent of your monthly rent. 

The management fee can differ depending on a few different factors: 

  • How many units the property has
  • If we will need to employ onsite staff
  • How many total properties we’re managing for you
  • How much those homes are earning
  • The neighborhoods in which those homes are located 

Your management fee will come directly out of the rent we collect from the residents. It includes everything that’s covered in our management services, from lease enforcement to inspections to maintenance. 

The management fee also covers:

  • Our resident and vendor communication
  • Any notices that need to be served
  • Our accounting and bookkeeping
  • The portals we provide for residents and owners

 

Lease Renewal Fees in Pittsburgh

Our final fee is a renewal fee, which is a flat $250 charge that you’ll pay each time we renew a resident. 

When you think about the cost of resident turnover and vacancies, it’s easy to see what a value $250 is. 

We’ll work hard to retain your residents, and the renewal fee will cover our negotiation and signing of the new lease. It costs you a lot less than it would if you were paying a new leasing fee.

 

In Conclusion…

There is no single right way to charge management fees, but the most important thing is that the company you’re working with is transparent and honest. 

The last thing you need as an owner and investor is to be surprised by extra charges, and it’s important to review your management agreement before you sign it.

Contact us at Arbors Management if you’d like to know more about our services and their costs. Our Portfolio Managers and Leasing Specialists would be happy to provide a personalized quote that’s based on your property and its unique needs!

Rent Collection & The Eviction Process in Pittsburgh

Rent Collection & The Eviction Process in Pittsburgh

by | Feb 24, 2020 | Blog, Property Management Education

By: Nick Griffith, Director of Conventional Housing

At Arbors Management, we believe the best way to avoid the eviction process and troublesome residents is by conducting a strict screening process before a resident even moves in.

Our resident screening process includes a close look at income, criminal histories, and credit histories. We have a rent collection process that works, and if eviction becomes necessary – we have a process for that, too.

Collecting Rent from Pittsburgh Residents

Before the residency even begins, we set the expectations with the resident about how we anticipate rent being paid. We let them know that rent is due on the first. They know when and how to pay it, and they know what the consequences will be if it’s not paid on time.

If payment is not received after the fifth of the month, we assess a late fee. We also send formal letters to the resident notifying them that rent is late. We tell them how much they owe and that we expect an immediate payment. This letter is sent to document the late rent. In addition to the letter, we also call, email, and text residents throughout the month to make sure they understand what they owe and why we are trying to collect it.

Filing a Landlord Resident Complaint

In the event a resident doesn’t pay rent, we file a Landlord Resident Complaint at the local magistrate. Typically, we will file this during the first week of the second month of rent being late. This means it will still be less expensive for the resident to catch up with rent than it would be to move out and find a new place to live.

We receive a court date, and we’ll go to court on your behalf to obtain a judgment in the amount owed plus court fees. Once this judgment is issued, the residents have 10 days to pay the rent. If they don’t pay the full amount within those 10 days, we can file an Order of Possession. Once we do that, the court gives the resident an additional 10 days to pay the rent. The eviction can only commence on the 11th day after the possession order is filed.

Professional Pittsburg Property Management

If the resident appeals the judgment, the case could go to a higher court level. At that point, we would need to involve an attorney. We are professional property managers, but we aren’t attorneys, so we cannot represent you at a higher court.

Many owners want to know what we charge for these services and the time we spend on paperwork and court appearances. The answer is – we don’t believe we should charge you for a bad resident or someone not paying rent. Our philosophy is that you should only be charged on the rent we collect. So, there’s no fee for us filing the Landlord Resident Complaint. The courts do have fees that you’ll be responsible for paying, but those will be passed along to the resident for your reimbursement.

We avoid evictions and late rental payments whenever possible. If you have any questions about our professional Pittsburg property management services, please contact us at Arbors Management.