Rental

This service is offered to clients who’d like to rent their properties.  We offer two options.

Annual Lease Agreement
We request a credit report on the renter and verify all of the references provided.  Once the homeowner agrees to rent the property to the potential candidate, a lease agreement is prepared for both parties to sign. 

The cost for this service is the equivalent to one month’s rent.  One half is paid to the company who recruits the renter and the other half is paid to Open Realty LLC.  It is customary to collect one month as deposit, first month and last month.

Example:

 

Monthly Rent                                                       $ 2,000

 

Amount Received Upon Delivery of Property
(Security Deposit, First Month, Last Month)                                 $ 6,000

 

Commissions Paid
(1/2 to Rental Company– ½ to Open Realty)                               $ 2,000

 

Balance Due to Owner$                                     $ 4,000

 

Pending Balance to Lease Term (10 months)    $ 20,000

Seasonal Rental Agreement
This type of rental is contracted for a term of less than one year and properties are typically furnished.  The client should provide an inventory of items in the unit, verified by one of the Open Realty LLC associates in order to include in the Rental Agreement.  The remaining steps are similar to the annual lease agreement rentals. 

 

The cost for this service is 10% of the contract.  Five percent (5%) commission is paid to the company that recruits the renter, the remaining 5% is paid to Open Realty, LLC. It is customary to collect one month as deposit, first month and last month.

Example:

 

Monthly Rent (Based on a 6 Month contract)            $ 2,000

 

Amount Received Upon Delivery of Property
(Security Deposit, First Month, Last Month)                                           $ 6,000

 

Commissions
($2,000x6=12,000 x 15%) (5% Rental company – 5% Open Realty)    $ 1,200

 

Balance Due to Owner$                                             $ 4,800

 

Pending Balance to Lease Term (4 months)            $ 10,000

© 2015 Open Realty Miami

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