What you pay
| Item | Fee | What it covers |
|---|---|---|
| Monthly management | 10% of the rent, only while the unit is rented | Rent collection, monthly statement, repair coordination, inspections, paying your property taxes on time with your funds, a yearly report for your accountant, and the yearly renewal of your LLC or corporation |
| Vacant unit | $0 | |
| Tenant placement | 1 month’s rent, split with the leasing agent. No management fee that month | Photos and listing, rent comparables from your neighborhood, screening, lease, move-in walkthrough |
| Lease renewal | $0 | A new look at the rent: if the market went up, we suggest an increase |
| Eviction | $0 | We pay the attorney and the court fees |
| Anything else | $0 | No other Blue One fees. Repairs are paid at the quote you approved, and state fees, like $138.75 for the yearly LLC renewal, are passed on as the state charges them |
Example: your cost with us for one year with a $2,500/month condo
Say the condo is empty for the first month and the new tenant moves in on the second.
- Month 1, vacant: $0
- Month 2, new tenant placed: $2,500 one time, and no management fee that month
- Months 3 to 12, management: 10 months x $250 = $2,500
- Lease renewal for the next year: $0
Total for the year: $5,000.
Out of your pocket that year: $0. When a new tenant moves in, we collect three months up front: the first month, the last month and the security deposit. With this condo, that means you receive $7,500 when the tenant moves in.
In a year where the same tenant renews and the unit is never empty, you pay only the 10%: 12 x $250 = $3,000.
Why we charge this way
We only earn while your unit is rented, so our interest is the same as yours: a good tenant, paying on time, for as long as possible. Before any repair, you see the quote and decide, unless it is an emergency. Minor repairs and damage from misuse are the tenant’s cost, because our lease says so in its own section.
More questions about how we work are answered in the owner FAQ. To get the numbers for your own property, use the form below.