Management Plans |
Best For
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All-Inclusive
Single Property Investors (1 Door)
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Full-Service
Single Property Investors (1 Door)
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Investor
Portfolio Investors (2+ Doors)
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Management Fee
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$225/month
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$125/month
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2-4 “Doors” – $110/month
5+ “Doors” – $100/month
All rates are per door
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Property Onboarding Fee
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$200
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Resident Onboarding Fee (if property already has resident)
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$150
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$150
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Resident Placement Fee
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$900
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$900
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Capital Maintenance Fee
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See Below
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See Below
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Lease Renewal Fee
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$250
|
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Annual Administrative Fee
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$50
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Annual Property Survey
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|
|
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Eviction Protection Fee
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Optional ($15/month)
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Optional ($15/month)
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Eviction Coordination (when resident is turned over to attorney)
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Attorney fees plus $200 (waived with Eviction Protection Fee)
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Attorney fees (waived with Eviction Protection Fee)
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Property Close-out Fee
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$250
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Rental Rate
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Owner sets initial rate. Price drops automatic per PURE policy.
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Owner sets initial rate. Price drops automatic per PURE policy.
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Set by PURE
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Owner Commitment
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Management contract runs concurrent with resident’s lease
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6-month contract then month-to-month
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6-month contract then month-to-month
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Key Details and Explanations
Management Fee – The management fee is charged for any part of a month with the unit occupied. For new properties the management fee is charged on the 1st calendar day of the month following when a property is posted for rent. (For example, a property posted for rent on January 20th would be charged a management fee on February 1). If a resident’s lease starts during the same month that a property is posted for rent, then the management fee would be charged for that full month without proration. (For example, a property is posted for rent on January 10th and a resident moves in on January 25th, then a full management fee would be charged for January).
Resident Placement Fee – (Full-Service & Investor Plans) The fee is $900 per resident placement. Broker earns this fee upon collection of a non-refundable deposit from an incoming resident.
Lease Renewal Fee (Full-Service Plan Only) – The fee is charged upon the resident signing a lease renewal with a term of at least 6 months in length.
Eviction Coordination Fee – (Full-Service plan only) Broker charges a $200 administrative fee to coordinate the eviction process with PURE’s attorney.
Property Close-out Fee – (Full-Service plan only), Broker charges a $250 administrative fee to close out a property when the property owner terminates the management relationship for a property.
Annual Administrative Fee – (Full-Service plan only) Broker charges a $50 annual administrative fee on January 1st of each calendar year which covers the preparation of annual owner reports.
Capital Maintenance Fee – (Full-Service & Investor Plans) The fee is charged based on capital improvements and maintenance expenses incurred in a calendar quarter. A fee of $150 is charged when these costs exceed $1,500 in a calendar quarter. An additional $100 (total of $250) is charged after capital improvements and maintenance expenses exceed $2,500.
Annual Property Survey – Each management plan includes one complimentary property survey per year occurring at a lease renewal or resident moveout. Owner may optionally request additional property surveys at a cost of $125 per survey.
About Hermitage
Hermitage, Tennessee, is a neighborhood in Metropolitan Nashville, Tennessee, located in eastern Davidson County,
adjacent to – and named in honor of – The Hermitage, the historic home of Andrew Jackson, seventh President
of the United States. Although the area is incorporated as part of the Metropolitan Government of Nashville
and Davidson County, it maintains its own identity as a residential and commercial suburban area.
Hermitage is located immediately to the east of Donelson, a Nashville borough named in honor of Andrew Jackson's father-in-law John Donelson,
and just to the west of Mount Juliet in adjacent Wilson County. Once a rural area, Hermitage is now a thriving district
with a highly developed network of retail stores and typical suburban tract houses, ranging from the "starter home"
to the "executive residence". The technology headquarters of Deloitte Touche Tohmatsu, one of the Big Four auditors,
is located in Hermitage, sprawling across 200,000 square feet (19,000 m2) and employing more than 1,000 people.
Also including a range of apartment dwellings, Hermitage is a small example of urban sprawl.
Major thoroughfares include U.S. Route 70, Interstate 40, and State Route 45. The neighborhood also has a
station on the new Music City Star commuter rail service and is home to the Tennessee Secondary School
Athletic Association, the organization that administers junior and senior high school sporting events.
Source: Wikipedia
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