Are Agents Allowed to Conduct Property Management?

Question: Are agents allowed to conduct property management business? 

Answer: Agents who wish to take on property management clients must obtain brokerage approval and sign the property management addendum to the Independent Contractor Agreement. To complete the process of obtaining approval and signing the addendum, visit this link: https://form.jotform.com/231995720447060

Question: What are the minimum fee requirements that we must charge property management clients?

Answer:  Agents are free to charge any commission amount for their services however a minimum fee of $25 plus 9% per unit managed per month is required. The 9% applies to the monthly rent. A $65 per unit setup fee is collected once at the beginning of the property management agreement. Agents may adjust these charges higher, but these are the minimums. Reducing fees below these levels require brokerage approval. 

Question: What are the fees charged to agents who perform property management business?

-Brokerage retains 100% of the $25 per month per unit fee.
-Agent retains 90% of monthly management fee collected. 10% goes to the brokerage. 
-Brokerage retains 100% of the $65 per unit setup fee. 
-Agents 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. 

To complete the process of obtaining approval to perform property management and signing the addendum, visit this link: https://form.jotform.com/231995720447060