Why Do We Charge Flat Fees
Published on Jan 15, 2019General
Why flat fee pricing?
Aiming for a fresh new approach to property management, we set out to evaluate every convention within the industry to come up with a service that both landlords and tenants will love. One of those conventions we chose to tackle was pricing. We charge a flat fee for both tenant placement and property management. Or in other words, we don't charge based on a percentage of rents collected but instead based on number of units we are managing for our customers. So why the change?
Traditional property management costs too much
Over the last decade, we saw rents double or in some instances triple. All while property management companies used percentage based pricing to charge more and more. The fact is that value of time did not double in that time frame. Actually, with new technological advances, property management companies are spending less time doing what they used to do before. Being landlords ourselves, we decided things needed to change.
As technologists, we streamlined the monotonous tasks - enabling us to make customer service our number #1 priority. Ultimately, we priced our service to be more in line with the tasks we were performing.
"How do I know you are going to get me the highest rent?"
As a property management company, our core mission is to maximize profits for our landlords. We do it by utilizing every resource possible to set the proper rent at tenant placement and continue to keep rents at market by renewing leases every year (and at the right time of the year!). With absolute transparency through our proprietary platform, our landlords not only see the result but also the process at a granular level. So you don't have to rely on percentage based pricing for us to do our job, you can see it. And we're sure you'll be impressed.
"What about vacancy? What motivates you to keep my place filled?"
As landlords ourselves, we intimately understand the importance of keeping vacancy to a minimum. Our tenant placement system prioritizes the process of turning a lead into a lessee as quickly as possible. While our system keeps track of leads, showings and applications, our property managers constantly follow up with prospective tenants to encourage them through the process. In case of a turn-over, we work with the outgoing tenants to schedule showings prior to their departure with the goal of minimizing vacant days. Let's not forget - the best tool to keep a unit occupied is to take care of the tenants.
We take pride in being available 24/7/365 to listen and to act diligently. Happy tenants lead to low vacancies and high property monetization! We are not paid unless the unit is occupied. So whether we are finding a new tenant or managing a property, we only charge our fee when the property is occupied and monetized. It really is property management simplified.