Management, Leasing, and Maintenance Fees

Management Fees:

The management fee is based on the monthly rent collected, location, and condition of the property. This fee is charged each month and deducted from the collected rents.

**Estimated fees are below and subject to change with or without notice:

101 + units: 7 percent
8 to 100 units: 8 percent
7 units or less: 10 percent

* Madison Properties does not retain any revenues from laundry, vending machines, forfeited deposits, and/or the sale of personal or real property.

Reserve Funds:

We require all of our properties with 8 or more units to have a reserve of $1,000; 7 units or less are required to have $500 in the reserve at all times.

Leasing fees:

8 units + is $250, which will be deducted from the first month's rent.

7 units and under is ½ of the first month rent, which will be deducted from the first month's rent.

Leasing fees include:

Advertising using signage & brochures at the property, print material, internet advertising, and placement on our web page;
Showings of the rental by one of our knowledgeable, courteous, and qualified staff members;
Tenant Screening conducting a background check;
Initial Set up Fees such as transferring utilities into residents' names.

Management Leases:

Leases are generally a one year lease and then month-to-month there after.

Maintenance and Services:

To maintain your property and investment, we have established relationships with vendors in all trades. We also have an in house maintenance staff to handle regular and daily maintenance issues, such as minor plumbing and electrical issues, painting, drywall repair, gutter and fencings, and cleaning of homes, units, common areas, and grounds.

Charges for in house maintenance are $25.00 an hour + materials.
Charges for in house housekeeping are $18.00 and hour
For any remodeling, renovations, or rehabs estimates are given according to the work requested.

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