IPLLC Management 

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Management Policies and fees

There is a significant difference between commercial vs residential property management fees but the average management fee ranges between 8-25% of monthly rent. For a single-family home IPLLC charges 14% of one month's rent each month for the duration of the management contract. This fee will vary based on the number of properties you need managed, the number of units in each property, and most importantly, what services are included for that fee.

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Vacancy fee

IPLLC. charges a monthly vacancy fee of ($100.00) Plus any additional fees for labor and supplies.

This includes securing the property, winterizing, being available to allow special entry into the property such as contractors and prospective tenants. In some cases this fee can be waived.

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Evaluate the property and determine an accurate rental rate

• Gather data on rental rates in the area and work with owners to determine the optimal rental rate. Rent research will vary, but should include looking at the recently rented comparable according to size and type.

• Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.

• Perform detailed documentation of the interior and exterior including photos

• Offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing good ROI.

 

Market the property for rent

      *  Prepare home for rent

• • Clean home and optimize interior appeal

  • Manicure landscaping to increase curb appeal

• Create ads tailored to the property and advertising medium. Some of the mediums commonly used are:

  • Paid and free rental listing websites

  • Print publications

  • Signs

  • MLS

  • Fliers

• Work with other realtors and leasing agents to find a tenant

•  All marketing and leasing is done through our brokerage Smart Realty.

• Perform a background check to verify identity, income, credit history, rental history, etc.

• Grade tenant according to pre-defined tenant criteria

• Inform tenants who were turned down

Tenant Move In​

• Draw up leasing agreement

• Confirm move in date with tenant

• Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance

• Perform detailed move in inspection with tenant and have tenants sign a report verifying the condition of the property prior to move-in

• IPLLC can assist in connecting Landlord with Tenant as to form an agreement on the transferring of rent funds. *Most clients choose to handle all rent money themselves and IPLLC. would prefer that type of structure. 

 

Evictions

• IPLLC may use 3rd party eviction services covered by property owners/clients.

• Filing relevant paperwork to initiate and complete an unlawful detainer action

• Representing owner in court

• Coordinating with law enforcement to remove tenant and tenants possessions from unit

Tenant Move Out​

• Inspect unit and fill out a report on the property's condition when the client moves out

• Provide tenant with a copy as well as estimated damages

• Return the balance of the security deposit to the tenant

• Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in owner reserves for repairs.

• Clean unit and perform and needed repairs or upgrades

• Re-key the locks

• Put the property back on the market for rent

 

Inspections

• Perform periodic inspections (Inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.

• Send owner periodic reports on the condition of the property

• Establish a preventative maintenance policy to identify and deal with repair needs

• Provide a network of licensed, bonded and fully insured contractors who have been vetted for good pricing and good work that is up to code.

• Assign jobs to different parties (in-house employees, handyman and professional contractors) based on who will do the best job for the best price.

• Maintain and monitor a 24 hour emergency repair hot-line

 

Termination Notice
30 days notice by either party.

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Our Goal

Let Infinitude Properties LLC..  provide you with a perfect plan that matches your needs and especially, your budget.

 

If you are contacted by us  for a leaky faucet, rattling heat vent, or a broken toilet, give the green light to fix those issues. Yes, the complaints may seem small to you, but to the tenant, the little things compile. Angry tenants make the management job much more complicated.

 

 "Choosing a property manager should be done carefully and thoughtfully. This is the person who will be representing you and the future of your business profits. Unfortunately, Infinitude Properties does not do commercial at this time. Our focus is primarily Residential."

-IPLLC.

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"The accusation that this, or any property management law unfairly burdens law abiding citizens is the same complaint of any law. The city is enforcing to the letter of the law....period." -Comptroller Bill Henry-Baltimore

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