Northern Virginia Real Estate - Ron Marraccini & Jeanne Brown, CENTURY 21 Olde Dominion, Inc.

The following is a list of services and fees for Property Management Accounts:

The monthly management fee is 8% of each month's rent. We will provide the following services, tailored to each owner's particular needs and desires:

Collect the monthly rent
Pay any bills from proceeds for that account, including, but not limited to: mortgage, HOA fee, repair bills, lawn care, etc.
Send any required late notices, "pay or quit" notices, lease violations, lease extensions, etc.
Be on call for emergencies, repairs, etc.
Periodically inspect the property during the lease term.
Recommend and supervise needed maintenance to preserve the home.
Provide monthly statements and annual tax statements.
Maintain owner's rental escrow account for emergency repairs.

In short, we oversee the property as if it were our own. We will not disburse owner funds needlessly and will consult with an owner whenever necessary.

We believe that if we have good, clean properties to rent, we will attract good, clean tenants. It is standard procedure for us to make recommendations to an owner prior to seeking a tenant. We can manage homes with tenants already in place or we can find a tenant and then manage the property. The following fees and services for securing a tenant are listed below:

For a one-year lease, the fee is 5% of the gross annual rent;
For a two-year lease, the fee is 3/4 of one month's rent;
For a three-year lease, the fee is equal to one month's rent; and
To renew expiring leases, the fee is $200.

In obtaining a tenant, we provide the following services:

List the rental property in the MRIS Multiple Listing Service;
Post the property with the Military Housing Office;
Check the prospective tenant's credit, employment, rental history;
Write the lease using the standard NVAR lease, tailoring it to the needs of the owner whenever necessary; and
Checking-in the tenant using a written list which describes the property's initial condition (the same list is also used to check-out the vacating tenant).

ron@virginiasuburbs.com jeanne@virginiasuburbs.com

Each Office is Independently Owned and Operated
1998 Century 21 Real Estate Corporation © and sm trademark
and servicemark of Century 21 Real Estate Corporation.

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