Pricing and Fees

HOW DO YOUR FEES WORK?

Typical Fee Agreement

Contract Setup Fee

Hollywood Property management will charge a one-time setup fee of $500. The contract setup fee covers the cost:

• Creating your account for bookkeeping purposes

• Opening a bank account in your name if needed

• Initial property inspection

• Coordinating the transition to a new property management company if you purchased a turnkey rental property.

As a baseline, expect to pay a typical residential property management firm between 10% and 20% of the monthly rental value of the property, plus expenses.

Possible Fees

• Vacant Unit
  Charge 1 month’s rent up front.  To pay a real estate agent a commission for placing a renter on the property, as well as the cost of preparing lease paperwork (which can take hours).

• Tenant Occupied Unit
  If the property is vacant, they may charge a reduced fee. 10% of each monthly rent

• New Tenant Placement
  Managers charge for a new tenant placement fee or bonus structure for getting a tenant into a lease. A fee of the first month’s rent for any new tenant placed.  However, you should not generally run into significant multiple up-front fees.

• Maintenance 
  We staff maintenance crews, full-time. See labor charges of $40 to $85 per Hour, plus materials. Subject to change.

• Evictions
  Unfortunately, from time to time, eventually some tenants just don’t work out. Property manager will charge a fee to go through the tedious process of evicting a tenant which is typically around $300-$800 per eviction, plus any applicable court costs.

• Late Payments
  Fee for delayed payment; on average this is 25%  to 50% of the collected late fees.

• Property Manager gets 15% of the Pet Deposit Collected

• Bad check fees (generally are the Owners Responsibility)

• Property Management gets to keep the income from vending machines and coin-operated washers and driers, if any.

• All fees are subject to change

• Realtor Fees are assessed by on staff Realtor.

Advertising Fees

•  Are charged Monthly to the owner by the Property Manager  at the rate of $150 a month, if property is unoccupied or to pay the costs of advertising, repeatedly showing the property to prospective renters.

Cleaning Fees

• Cleaning Fees will be assessed  upon Final walk through. We have a Cleaning Crew. 

• We donate... Furniture/ Household items are donated to Charity when possible.

​