Rent
This service is offered to clients who want to rent their properties. We offer the following two options:
Rental AgreementÂ
Annual
Property is listed on Open Realty LIc. And the company takes care of requesting the background check, the tenant's credit report and checking all the references provided. Once the owner agrees to rent the property to the potential candidate, the Lease Agreement is prepared to be signed by both parties, and the final inspection of delivery of the property is made, in addition the checks are collected. what was agreed and the rental of the unit officially begins. The costs for this service are one month's rent. One half goes to the Company that brings the tenant and the other half to Open Realty LIc. Normally a month of deposit is collected, the first and the last month.
Example:
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Monthly Rent Amount
$ 2,000
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Amount Received upon Delivery of Property
$ 6,000
(Security deposit, first month, last month)
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Commission Payments
$ 2,000
(½ tenant referring company – ½ Open Realty LLC)
Balance to be Received at Final Inspection
$ 4,000
Outstanding contract balance (10 months) $ 18,000
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*Homeowners Insurance is recommended. Tenant may also apply for Renter’s Insurance to cover tenant’s personal property.
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Tenant may also apply for Renter’s Insurance to cover tenant’s personal property.
Home Owners is recommended
Rental agreement
by season
This type of rental is made for periods of less than one year, and normally the property is furnished. The client must supply the inventory of the unit, verified by one of the associates ofOpen Realty Llcto include it in the rental contract. Basically the same steps of the annual contract rent are carried out.
The costs for this service are 10% of the contract. The 5% commission goes to the Company that brings the tenant and the other 5% toOpen Realty LIc.Normally one month deposit is collected, the first and last month.
Example based upon a 6-month contract:
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Monthly Rent $ 2,000
(6 months contract)
​
Amount Received upon Delivery of Property
$ 6,000
(Security deposit, first and last month)
​
Commission Payments
$ 1,200
($2,000 x 6=12,000 x 15%) (5% Rental Company – 5% Open Realty)
Balance to be Received at Final Inspection
$ 4,800
Outstanding contract balance
$ 6,000
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*Homeowners Insurance is recommended. Tenant may also apply for Renter’s Insurance to cover tenant’s personal property.
Remember:
All services such as water, electricity, internet, cable, etc. are the responsibility of the tenant, and are registered under their social security number.
Credit History and Reporting is an effective tool used in the United States of America. A tenant’s credit profile is an important factor when choosing your tenant.Â
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Their credit worthiness is the best way to gage their financial habits and can represent 65% of your decision.
