Property Management at Maximum One

Maximum One – Agent as Property Manager  - No Longer Accepted at Maximum One (6/1/14)

• AS OF 6/1/14 - MAXIMUM ONE WILL NO LONGER OFFER PROPERTY MANAGEMENT SERVICES

• Minimum Management Fee at Maximum One is $85
• Agent is responsible for handling repairs, proceeding with evictions, chasing down late rent or non-payment of rent, handling any landlord/tenant disputes, etc
• Agent needs to keep all records – financial & otherwise                                                            
• We currently do NOT have online payment for tenants
• Currently, if a tenant pays by check, we have a 10 day hold on those funds before we can pay the Landlord
• Agent needs to keep financial records of money coming in & going out
• Agent will need to prepare a report of what is to go on the Landlord’s 1099 at the end of the year
• All monies, rents/fees/etc. will be run through Maximum One and agent needs to keep specific & accurate records for end-of-the-year reporting
• Agent must take a minimum 3 hour CE class on Property management within 3 months of taking on a property to manage or hold an Associate Broker’s License
• Must use GAR contracts
• Maximum One Transaction Fees on Property Management is paid on an 80%/20% split regardless of the Commission Plan the agent has with Maximum One for other transactions
• Maximum One Transaction Fees on Property Management do not go towards Agent’s annual cap
• Maximum One will pay the Landlord through a Direct Deposit only
• Maximum One requires a W9 form on all Landlords
• Maximum One Property Managers may only manage their clients’ properties regarding rents / repairs / maintenance issues (no management of HOA dues, Mortgage payments, Property Taxes, Utilities, etc.)
• There is a bookkeeping fee of $7.50 / transaction / property / month on any payments / fees paid on behalf of a property over 2 / month (excluding processing rent)

Outside Referral

·         Agent may send an outside referral to any management company of their choice as well