Blog Post

Standard Fees & Costs

Understanding Your Monthly Statements

❱ Management Fee: Dependent upon the type of property and the property needs. This fee is collected monthly when the property is occupied by a tenant.


❱ Tenant Placement Fee: 50% of one month’s rent. This fee is charged when we place a new tenant. There is no placement fee for renewing a lease with an existing tenant.


❱ Set Up Fee: We charge a one-time set up fee of $50 to input new properties in our system.

RESERVES

❱ We require a $500 reserve per unit. The reserve is retained in a non-interest bearing account to cover costs of maintaining the property as needed.

MISCELLANEOUS COSTS

❱ From time-to-time there may be other costs associated with maintaining your rental such as: maintenance, yard care, utilities, HOA fees, etc. Please reference our various flyers and your management agreement for other possible costs.

Property Management Tool Kit
May 26, 2023
Established in 2005 Windermere Property Management exclusively manages properties with the focus of preserving and enhancing the value of investment properties. We provide professional management for single family, multi-family and commercial units. Our full service management allows owners to focus on other aspects of their investment portfolio, while ensuring that their properties are well-managed and profitable. EXPERIENCED TEAM Our staff includes four licensed real estate brokers with 30 years combined experience. You also have access to our in-house maintenance company that employs a handyman, landscaper, residential and commercial cleaners as well as on-call staff for after-hours emergencies. SERVICES FOR OWNERS ❱ Marketing: WPM markets your rental online and distributes to our pool of pre-qualified applicants. Each property receives a “for rent” sign in the yard and a 3D virtual tour. ❱ Tenant screening: We professionally screen applicants, negotiate lease terms, collect deposit/rent/fees, sign lease/addenda and complete move-in walkthrough with tenant. ❱ Rent collection: We collect rent and any applicable fees from tenants on behalf of the property owner and ensures that rent is paid on time. ❱ Maintenance and repairs: We have an in-house maintenance team to handle service and repairs for rental properties or we coordinate with contractors to ensure that the property is well-maintained. ❱ Property inspections: We complete the move out walkthrough, coordinate any work such as cleaning and repairs. Additionally, we conduct annual interior inspections on each property. ❱ Lease management: Throughout the lease of your property, we handle lease agreements, including renewals and terminations as well as handle tenant inquiries/concerns on your behalf. ❱ Financial reporting: Owners have 24/7 online access to copies of monthly cash flow statements, paid invoices, copies of leases, and other important documents. Owners also have the ability to make an owner contribution via their portals.
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By Applicant submitting a signed Application they acknowledge and agree to the following:
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It’s important that your property be well maintained not only to increase the value and maintain your investment but to set the bar for care by future tenants.
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Pet ownership statistics show ownership levels have reached new highs during the past couple of years. The American Pet Products Association found that 70% of households own a pet, a significant increase from 1988 when 56% of households owned a pet. Additionally, there are approximately 500,000 service animals in the us and nearly 200,000 emotional support animals, up from merely 2,400 in 2014. Pet ownership and the use of service and support animals continues to rise through the US. A trend we see here in our local community as well.
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We will choose the first approved applicant, based upon our tenant screening policies. The unit is taken off the market when the approved applicant has signed the pre-lease holding agreement and the lease agreement, as well as paid the holding deposit. If the applicant decides not to rent the unit, they waive the holding deposit which is then paid out to the owner as income. If the applicant moves in as agreed upon, the holding deposit is transferred and becomes part of the applicant's refundable security deposit. WPM will assure completion of a signed move in condition form, documenting the condition of the home at time of move in. This form is required in the State of Washington if you deduct any repairs, yardwork or cleaning from the tenant's refundable security deposit upon move out. WPM retains a copy of the signed move in condition form.
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Windermere Property Management has a comprehensive approach to marketing your property, to provide the best exposure to the most qualified potential tenants. This process starts by helping you prepare your property so it makes a good first impression, attracting good tenants, reducing time on the market, and obtaining the best rental price.
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You have access to our in-house maintenance company that employs handymen, landscapers, residential cleaners as well as on-call staff for after-hours emergencies or we can coordinating with outside vendors to ensure that the property is well-maintained.
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WPM requires all tenants to carry liability insurance
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THE LAW
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BREAK LEASE OBLIGATIONS
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