When it comes to the actual management of the properties, the fees that we charge are pretty standard across our industry and they are currently as follows:
| Fees We Charge for management & maintenance | Price |
| Initial Setup Fee | $100.00 |
| Monthly Management Fee Based on Gross Rents (Per Property) | 10% / Month |
| Placing a New Tenant in a Property (Min. of $350.00 Per Property) | 50% of 1st Months Rent |
| Lease Renewals (Per Property) | $100.00 |
| Monitoring Offline Properties (Per Property) | $25.00 / Month |
| E-Pay Transaction Fee (Per Property) | $25.00 / Yearly |
| Spring & Fall Tenant Walkthrough Inspections | $50.00 |
| General Maintenance Billable Rate (Min. 1 Hr) | $60.00 |
We also offer many additional, optional services that several of our International or Out-Of-State Investors not only find valuable but also request. If there are specific services that you would like to receive, please Contact Us for a quote!
| Optional Services We Offer | Price |
| Pressure Washing Properties Over 1,000 sq. ft. with 1 level (includes attached garages) | $200.00 |
| Pressure Washing Properties Under 1,000 sq. ft. with 1 level (includes attached garages) | $150.00 |
| Additional Fee for Pressure Washing Properties with a Second Level or Detached Garage | $50.00 / Per |
| Gutter Cleaning (Initial Cleaning & Ongoing Maintenance) | $45.00 & $30.00 |
| Appeal Property Taxes on the Owners Behalf (Per Property) | $100.00 |
| Pay Property Taxes on the Owners Behalf (Per Property / Per Instance) | $25.00 |
| Pay Property Insurance on the Owners Behalf (Per Property / Per Instance) | $25.00 |
When it comes to doing rehab or construction projects, there is a running joke within the Real Estate community that when it comes to contractors, there are three options you can choose from 1. Good Work. 2. Good Prices. 3. Good Speed. And as the saying goes, as an Investor, you get to choose two of those options. The contractor who is fast may not do the work thoroughly. The contractor who is cheap may need the money to complete another job and may never end up getting to your project – even after you give him a partial payment upfront. And the contractor who does the best work doesn’t come cheap since his services are in high demand.
In reality, when it comes to choosing a contractor, there is more than just the quality of work that’s being done, the speed with which it’s done, or the price you are getting it done at. Other things to consider include:
- Does the contractor pull all the necessary permits?
- Does the contractor carry General Liability Insurance?
- Is the contractor Licensed in the local area to do the work?
- Is your contractor willing to fill out a 1099 Form for tax purposes?
- Are the materials covered in the bid? What kind of quality are the materials?
- How are you expected to pay? Will the contractor accept a draw? Or do they want the entire payment upfront?
American Midwest Realty prices include Workman’s Comp & General Liability Insurance, as well as standard Company Overhead Expenses & the Employee’s Wages. Typically our fees are as follows (subject to change):
| standard Mechanical replacement costs | Price |
| Air Conditioning Unit Replacement Installed | $3,500.00 |
| Furnace Swap Out for a 90% Efficiency Unit | $2,800.00 |
| Furnace Swap Out for an 80% Efficiency Unit | $2,400.00 |
| Simple Water Heater Swap Out ($250 + Materials) | $850.00 |
We believe in transparent pricing, and in case it hasn’t been obvious by now, fair is our favorite word. We believe that the prices have to be fair to the investor as well as the contractor, and the contractor needs to stand behind their work. Our relationships enable us to get quality contractors to give us better pricing, which we then can pass on the savings to you! All of this leads to getting a better ROI on your investment. It’s one of the ways we are trying to change Property Management for the better!