(623)935-1771

EXIT Realty Place is not new to the property management business. With the recent down turn in the real estate market, a lot of real estate companies, ones who swore they would "Never" do property management, decided to "Get In" to property management just to help their "Bottom Line".

Realty Place has been in property management since 1988. We have key personnel in place to handle the most difficult situations, and support both tenants and landlords. Recently we upgraded our systems and policies to help with communications between our tenants and landlords. We use state of the art software to track property performance, tenants, payments, HOA violations, maintenance, ETC. Tenants have the ability to log in to their account on line and request information, see their statements, request maintenance, and even make payments. Landlords have access 24 hours a day to their accounts as well. They can access their statements, reports and keep track of maintenance requests and repairs, as well as any expenses.

Realty Place wants to be your property manager. Give us a call or stop the office for more information about our services and how we can help you manage your real estate portfolio.

 TERMS:

• Exit Realty Place management agreements are for a period of three (3) years. Agreement can be terminated at any time with a 30 day written cancellation from property owner. Cancellation fee of $100.

• Rents are due on the first late on the 6^th. Exit Realty Place charges tenants $25 on the 6^th and $5.00 per day thereafter and keeps the late fees to cover the costs of the collection efforts.

• Checks are mailed to owners by the 10^th of the month if rent is collected on time.

• Optional direct deposit will be available soon for a small transaction fee. Deposit to your account in local bank for a fee of $5.00.

FEES:

• One time set-up fee $100

• $500 property reserve for minor repairs and maintenance issues. Repairs up to $350 are taken care of immediately repairs over $350 require owner approval. Funds for repairs must be in Broker's Trust Account prior to repairs being made. Emergency repairs will be made and must be paid to vendor by owner immediately. Failure to pay vendor may result in a mechanics lein placed on the property and all funds will be held from rent payments to pay invoice until paid in full. Exit Realty Place will not held responsible for any extra fees charged by vendors for interest collections or court costs or lein costs caused by not paying vendors in a timely manner.

• No charge while property is vacant

• 6% Marketing/Leasing fee. Fee pays for marketing of property and agent’s (Buyer/Seller) commissions. This is 6% of the gross lease (i.e. $1000/mth lease X 12 Months = $12,000; $12,000 X 0.06 = $720) taken from first month’s rent. This fee is taken at the beginning of every new lease. Lease renewals are charged $300 at signing of new lease and taken from that month's rent payment.

• 10% per month management fee. 10% of monthly gross lease is charged for management fee (i.e. $1000/mth X 0.10 = $100/mth) with a minimum of $75.00 per month which ever is greater.

OWNER EXPECTATIONS:

• Utilities must remain on in property owner’s name while vacant. This includes power and water and gas in the winter time if gas heat and gas water heater are supplied.

• Must register property with Maricopa County as a rental property.

• Rental Taxes will be collected from tenants and paid by Exit Realty Place on owner’s behalf. Some cities require the owners to be licensed with the city and be responsible for the rental tax. Exit Realty Place will pay these taxes on owner's behalf.

• Prompt response to major repair inquiries. (i.e. A/C repair or replacement, major appliance repair or replacement, water heater, etc.)

• Maintain current contact information including e-mail address.

• If selling, short sale, on in foreclosure, written notification must be sent to Exit Realty Place prior to commencement of action.

• All communication with tenant must be done through Exit Realty Place.

REALTY PLACE EXPECTATIONS:

• Advertise and show property to potential tenants. Exit Realty Place lists all properties on the Multiple Listing Service, our web site, and over 300 other syndicated web sites, like REALTOR.com, Zillow.com, HotPads.com, Truila.com, Craigslist, etc.

• Screen applicants for credit worthiness, job security, income and criminal background.

• Manage phone calls (HOA/City Issues, Repair Issues, Tenant Concerns)

• Collect and distribute rent

• Schedule and supervise repairs and required maintenance issues.

• Drive by inspections

• Monthly and annual Financial reporting

• Maintain online software for owner access to their account (e-mail address required)

• Notify owner of issues with tenants, HOA, property, maintenance, etc.

• Send late notices, collection services (does not include collection fees if required), eviction notices, help with eviction process (does not include legal fees)

Exit Realty Place is owned and operated by licensed real estate agents. The owner also has a for profit “handyman” business that may be, at your request, contracted to perform maintenance on your property. This is NOT a requirement of your agreement with Exit Realty Place and other contractors may be used at your request. All property owners and tenants are required to sign an “Affiliated Business Disclosure” which informs you of this business and that we, in no way, require you to use this business as part of the terms of our agreement.

We look forward to working with you in the future.

Regards,

Keith Weaver, Broker
EXIT Realty-Realty Place