ASHBY & GRAFF REAL ESTATE
INDEPENDENT CONTRACTOR AGREEMENT
(Between Broker and Associate-Licensee)
ADDENDUM NO 2 - PROPERTY MANAGEMENT
MINIMUM FEE REQUIREMENT CHARGED TO CLIENTS:
- Associate-Licensee is free to charge any commission amount for their services however a minimum fee of $25 plus 3% per unit managed per month is required. The 3% applies to the monthly rent.
- A $50 per unit setup fee is collected once at the beginning of the property management agreement.
- A 5% maintenance mark-up is added to all maintenance repairs.
- Eviction Guard is available to clients for additional $8.95 per unit per month. Eviction Guard service provides mediation, process serving, and attorney referrals if a tenant does not pay rent on-time.
FEES CHARGED TO BROKERS AND ASSOCIATES:
-Brokerage retains 100% of the $25 per month per unit fee.
-Associate-Licensee retains 90% of monthly management fee collected. 10% goes to the brokerage.
-Brokerage retains 100% of the $50 per unit setup fee, 100% of the maintenance mark-up, and 100% of the Eviction Guard add-on.
-Associate-Licensees conducting property management business must pay a monthly technology and insurance fee of $45. The fee will be charged to your credit card on file. You must provide 24 hours written notice to info@ashbygraff.com if you wish to cancel. No refunds can be issued for any reason except to correct our own errors.
-Brokerage fees for renting out units are covered under the terms of Addendum #1 of the Independent Contractor Agreement also included here below:
If an Associate-Licensee rents/leases their own property (agent’s name on title).
10% ($65 minimum)
If the property is listed on MLS, agent must email the office the property address.
If an Associate-Licensee rents/leases clients property
10% ($75 minimum)
Fees also apply to transactions for relatives/friends and even when the commission is waived. If the commission is waived by the agent, the fee is calculated as 10% of the total lease term.
RULES/REGULATIONS
All rules and regulations covered in the Independent Contractor Agreement apply to property management work as well including our rules regarding the handling of trust funds. Associate-licensees may NEVER handle trust funds. Trust funds like security deposits and rent payments should be handled between the tenant and the landlord directly or via our internal property management software system.
New property management agreements must be reported to the brokerage using the www.updatebroker.com website.
Documents must always be uploaded to the appropriate location within 48 hours of being fully executed. Failure to comply with this basic requirement can result in additional fees being assessed per the terms of the Independent Contractor Agreement and addendum #1.
I CONSENT, AND AGREE TO ALL TERMS, OBLIGATIONS, AND CONDITIONS SET FORTH IN THIS AGREEMENT
Acknowledged and agreed to: