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Rentals

This service is offered to clients who seek to rent their properties.  We offer the following two options:

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Annual Rental Agreement

The property is listed in Open Realty LLC.  We are responsible for requesting background checks, the tenant's credit report and checking references provided. Once the owner agrees to rent the property to the potential candidate, the Lease Agreement is prepared and signed by both parties, and the final inspection of delivery of the property is made, in addition the checks of what was agreed are collected and the rent of the unit is officially started, the cost for this service is the total of one month's rent. One half is paid to the Company that refers the tenant and the other half to Open Realty LLC. Normally, first and last month in addition to a month of deposit is collected.

Example:

Monthly Rent Amount

$ 2,000

Amount Received upon Delivery of Property   

$ 6,000

(Security deposit, first month, last month)   

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

*Homeowners Insurance is recommended.  Tenant may also apply for Renter’s Insurance to cover tenant’s personal property.

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Home Owners is recommended

Tenant may also apply for Renter’s Insurance to cover tenant’s personal property.

Pareja de vacaciones

Seasonal
Rental

Contracts

This rental contract is for periods of less than one year and the property is typically furnished.  The client must provide an inventory in the unit, verified by one of Open Realty LLC’s associates.  The inventory items shall be included in the Rental Agreement.  The same steps are performed for Seasonal Rental Contracts as are performed for Annual Rental Contracts. 

The cost for this service equals 10% of the contract. The 5% commission is paid to the Company that refers the tenant and the other 5% to Open Realty LLC.  A deposit equaling one month’s rent is normally collected as well as first and last month.

Example based upon a 6-month contract:

Monthly Rent                                                        

$ 2,000

                                                  

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

*Homeowners Insurance is recommended.  Tenant may also apply for Renter’s Insurance to cover tenant’s personal property.

Remember:
Utilities such as water, electricity, internet, cable, etc. are tenant responsibilities and are obtained using their social security number and credit history.

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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. 

Their credit worthiness is the best way to gage their financial habits and can represent 65% of your decision.

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