Monthly and Annual Statements

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Many Real Estate Investors don’t read the monthly and year end statements. This is where you will find any hidden fees. In a percentage management agreement the only fees you should see are the recurring cost of management. These might include HOA dues if your management company has taken on the responsibility of paying these out of your account. Otherwise you should only see the agreed upon management percentage and any minor repairs with an accounting for each. If you are seeing others like Accounting fees, filing fees, mailing fees, fees for notices or fees for calling your tenants, all of these additional fees should be considered along with the percentage you are being charged. It doesn’t take much to move the scale from 7 or 8% to 14 or 15%. Abridge Property Solutions never charges this type of add on fee. The percentage quoted is exactly what you will pay.

So, give us a shot. Contact Curtis at Abridge Property Solutions and let me show you how we can optimize your rental property income.

Investment Properties and PMA’s

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The Property Management Agreement or PMA is the contract used between a property owner or investor and their chosen Property Management Company. Here in Arizona the most widely recognized PMA is supplied by the Arizona Multiple Listing Service or ARMLS. This PMA sets forward all of the responsibilities of the Property Management Company. Since nobody works for free there is always a fee for services. Most Management companies charge either a percentage of rents collected or a flat fee per door, but do they also include a fee schedule?

The Owner Fee Schedule will be a list of additional fees for the day-to-day cost of services. Some as minor as mailing a letter or notice. These fee’s might also be listed in the PMA’s Additional Terms and Conditions P.5 Sec.7. Some of these fees even incentivize a high turnover of tenancy.

So, send a copy of your PMA and your end of year statement to Abridge Property Solutions and let us show you how much money we can save you this year.