The following are a few policy updates we want you to be aware of for 2015.
10% Surcharge for Third Party Vendors
Most of the time we are able to handle repairs through our in-house maintenance company LPM (Larsen Properties Maintenance). However, we occasionally need to use a third party vendor that is either chosen by the owner or Larsen Properties. In this case, we will be adding a minor 10% surcharge to cover the additional time required to coordinate with the outside vendor and the additional accounting procedures required.
This applies only to repairs that go through our accounting system.
Lease Renewal Fee
The Lease Renewal Fee is a flat 1% commission based on the total gross revenue of the home.
$1500/mo rental home leased for 12 months = Total $18,000
The 1% lease renewal fee on this home would be $180.00
Annual Technology Fee
Annual $25 on January 1st
This technology fee helps defer the cost of providing the owner’s portal and keeping the portal up-to-date.
Our expenses have increased so we have raised the price $20.