WILMOTH Group has designed a management fee system that is transparent for both the investor and renter. Jennifer Wilmoth, co-owner and broker at WILMOTH Group in Indianapolis, explains the process.
Jennifer: So, our monthly management fee is calculated as a percentage of the collected monthly rent from the tenant – and I stress collected. If your tenant doesn’t pay, you do not pay a management fee. We also do not charge a fee if the property is vacant for either repair or for marketing.
So, the only time that you pay a management fee is when WILMOTH Group successfully collects rent from a tenant. That is where WILMOTH is unique. Most management companies will typically either charge a vacancy fee per month as your property sits vacant for various reasons, but if it’s marketing or repairs. Or if they are not successful in collecting rent, they could possibly charge you a minimal fee while you are in that collection, or perhaps, eviction period.
WILMOTH does not do that. We only charge if we successfully collect rent from a tenant.