We at M&S Holding offer a comprehensive property management service fee for the Hampton Roads and the Metro Atlanta areas. We are confident that we can secure a tenant for you within 35 days or less! We employ an aggressive Internet Marketing Plan for every property that we lease. We advertise properties on multiple nationally recognized internet sites to help attract local perspective tenants as well as tenants from all over the U.S. We also offer pricing at a very competitive level. In addition to our inexpensive property management fees, we offer high reductions on maintenance work and repairs. It is our goal to provide excellent services for a fair price. It is also our goal NOT to “nickel and dime” our clients. We know that unexpected expenses are hard on everyone. That is why in most cases, you pay a flat fee for our services. We try to make our services as All Inclusive as possible while providing the most thorough and effective services. You’ll find that we are not only among the lowest, but we also provide the most comprehensive services to you with the least amount of fiscal surprises!
Here are just a few of the many benefits to working with M&S Holding Inc. :
• We provide a lease agreement that covers both you and your property, collect and account for rents, and confront tenants to enforce the terms of the lease.
• We provide comprehensive rental applications and forms that, along with a consistent screening process, ensure the highest quality tenants while conforming to all applicable laws.
• We perform complete accounting for your property; to guarantee a maximum return on your investment and best tax benefit.
• We provide you with your own portal where you can check financials, review documents, ask questions and download multiple reports with a click of a button, 24/7.
• We create and maintain relationships with qualified vendors, including painters, roofers, electricians, plumbers, appliance repairmen, handymen, and more. We get volume discounts and forward those discounts to you!
• We keep on top of regional, state, and federal landlord/tenant law and legislative issues facing property owners and tenants.
Qualities that set us apart from other Hampton Roads and Atlanta Properties and Rental Management companies:
• Personalized, attentive, one-on-one service with thorough and effective communication.
• Expert knowledge of the industry and local real estate market.
• Comprehensive experience dealing with all kinds of property and tenancy issues.
• Established relationships with local services providers of all types.
• We undergo regular continuing education to stay on top of the latest issues and regulations that property owners and renters face.
As a home owner who wants to list my property through M&S, what are your company’s fees?
TENANT PROCUREMENT FEE– First Month’s Rent
What is this? This is the fee we charge for marketing, showing, screening, and placing a qualified tenant in your home.
MONTHLY MANAGEMENT FEE– 8% of monthly rent, minimum of $125/month
What does this cover? This is the fee we charge for rent collections, processing, general maintenance request
processing, tenant and owner reports/correspondence, HOA communications, and owner disbursements. Remember, you are the landlord, but the tenants only have our contact information and everything comes through us!
LEASE RENEWAL FEE– 50% of 1 months’ rent
What is this referring to? This is a fee charged to owners to renew/extend and/or renegotiate the current Lease for an additional year.
YEARLY INSPECTION– NO ADDITIONAL CHARGE
What is this? This is the inspection done with your tenant about 75 days before the end of their Lease.
MID-YEAR INSPECTION– $75
What is this? Some owners prefer to have an additional inspection to their home Mid-Lease. We do an additional site visit and send you interior and exterior photos.
MOVE IN/ MOVE OUT INSPECTIONS – NO ADDITIONAL CHARGE
What is this? These are the inspections done just after a tenant returns legal possession of the property and prior to a new tenant moving in. These inspections are critical and are considered to be part of our Management responsibilities.
DRIVE-BY INSPECTION– NO ADDITIONAL CHARGE.
What is this? A few times a year, we drive by our single family home inventory and take a photo of the exterior. We are just checking to see the state of the yard, amount of cars, any exterior maintenance needed, etc.
AGREEMENT TERMINATION FEE– NO ADDITIONAL CHARGE FOR
TERMINATION “With Cause” AS DICTATED IN THE MANAGEMENT AGREEMENT.
EMERGENCY TRIP FEE– NO ADDITIONAL CHARGE.
What is this? This applies to any emergencies for single family residential homes and someone is needed onsite to meet with insurance adjusters, file a police report, etc. We believe that these types of events are what we are here for.
ADDITIONAL KEYS– Owners are to provide us with two complete sets of fully functional keys to the home. Any additional keys needed are NO ADDITIONAL CHARGE. This does not apply to key fobs/cards/remotes.
INVOICE PROCESSING FEE– $10
We do not own a Maintenance Company or have in-house handymen, etc. We do not charge a mark-up on maintenance done to your home. We do charge a $10 per invoice processing fee. It takes a lot of work to manage an effective and communicative maintenance department. That small fee helps us to cover our expenses.
ADDITIONAL a-la-carte SERVICES
Special Services are services that are outside of normal Property Management duties. Please see below and let us know if you have any questions. We do contract out for these services separately, as needed.
LANDLORD RESCUE– $500 plus Attorney’s Fees and Expenses
What is this? This service is available if you have a delinquent tenant or a tenant that needs to be evicted, that we DID NOT place in the home.
TURNKEY COORDINATION FEE– Quoted on a case by case basis
What is this? This is a fee charged to coordinate repairs for a property not yet under Management. Since we do not charge management fees for a vacant property before we place our first tenant, this covers the labor to oversee the project.
RENOVATION COORDINATION FEE– Quoted on a case by case basis
What is this? This is a charge to cover our expenses for overseeing large renovation jobs over $5000. This does not apply to turnkey work, i.e. paint, carpet, or systems replacement. An example of this would be a bathroom remodel, tree fall damage over $5000, or pool/deck installation.
TENANT CONVERSION FEE– If you currently have a tenant under any Lease but ours, and decide to have us manage that Lease, there is a $300 Tenant Conversion Fee to get the tenant contacted and set up in our systems. When the foreign Lease expires we will renegotiate and get your tenant set up on our Lease from that point forward.
What happens to the security deposit and/or pet deposits?
The security deposits and/or pet deposits will be collected by M&S and held in a secured account. At the end of a lease term, the property will be re-inspected for damages and if repairs are needed (due to the negligence of the tenant), it will be deducted from the security deposit. The remainder of the deposit will be released within 30 days to the tenant.
What is the maintenance account for?
The maintenance account is set aside for any minor repairs that may occur while a tenant is occupying the property. For major repairs that exceed these funds, we would require additional funds from the owner to cover the expenses.
What if an owner wants to perform all of the work on their property?
Owners have the option of performing all maintenance items themselves. Please click here for a link to our release of maintenance. M&S Holding Inc. Property Management division will not participate in “partial repairs” where the owner does some items and M&S Holding Inc. performs others. Should we be requested to meet owner’s contractors, there will be a charge for this additional service. Experience has proven that M&S Holding Inc. contractors can perform maintenance items faster, more competently, and less expensively than most comparable contractors in the business. Additionally, we don’t recommend usage of contractors that are not fully insured, including general liability and workman’s compensation. We have experienced situations where shoddy work was performed and/or disagreements occur and if reputable contractors are not used, liability will fall on the property owner.
When do I need to replenish my maintenance account?
The owner will be contacted when twenty-five (25%) of the maintenance account balance remains.
Will repairs be made to the property if the maintenance account is depleted?
No. M&S will not make any repairs to the property if the maintenance account is totally depleted. Repairs will be made once the owner has replenished the account and made funds available.
As an owner, what can I do to ensure I have the money to cover major repairs?
M&S strongly advises all our clients to get home warranties that cover the majority of any major repairs. We provide our owners with contact information to several warranty companies who offer various warranty packages that fit your budget and needs.
How long will it take to process my application?
Once the application and fee are both received, the time of processing is two (2) days. After such time, an employee will contact you to inform you of your tenancy status.
What happens if I need something repaired?
If a tenant needs to have something in the unit repaired, the tenant will need to log on to their tenant portal and fill out a maintenance request of the issue. A tenant can also contact our emergency maintenance line at 404-287-2995. This will alert the property management team, which will contact you within 24 hours to schedule repairs at a reasonable time for you. Emergencies will be handled immediately if the property management team deems it necessary.