Owners of multiple properties under management receive discounted management fees as follows:
1-2 Units: no discount
3-9 Units: 1% discount per unit
10+ units: 2% discount per unit
Minimum Monthly Rent: 3G Properties manages homes at the minimum rental rate of $1500.
PLEASE NOTE: We do not vary fees to eliminate any Fair Housing issues.
3G Properties Group communicates with Owners via cell phone text messaging software. Due to cell phone carrier regulations, Owners give authorization to 3G Properties Group and its representatives to allow text messaging as a vital part of communication.
A minimum of 6 months’ Property Management is required with this agreement.
If this agreement is terminated through the sale of the Property or termination of the management agreement for any other reason prior to the end of the first six months of Property Management, Owner shall pay 3G Properties Group sufficient management fees to equal the management fees that would be paid for this minimum six-month term.
If the property is still on the market and not leased after 3 months,
this is an indication the market is not interested in leasing due to: condition, market changes, pricing and location. At this time, it is agreed that the owner will pay a management fee of 9% of the MLS listed rent for the next 6 months. At the end of the 6 months, if the property is still on the market and not leased, either 3G or the owner may choose to terminate management with a 30-day written notice without any additional fees.
If either party terminates this Property Management Agreement per paragraph 3,
3G Properties Group reserves the right to reconcile Owner's account and complete the final disbursement of funds to Owner within ninety (90) days after receiving either party's written 30-day notice of termination. Tenants may terminate without penalty if management terminates or transfers.
Owner understands that Tenant's lack of hot water, sufficient air conditioning over 85 degrees and heat under 55 degrees are emergencies. 3G will inform the Owner of emergencies that must be addressed immediately. For Tenant's health and safety, Tenant will be placed in a hotel until remediation can take place. Owner will incur the cost of the hotel as well as the repair (if possible) or replacement of the equipment.
If Owner has not set aside funds for the hotel and capital improvements to make these repairs, the Tenant may be released from the lease immediately without penalties. Tenants will be refunded any unused portion of rent and their security deposit if the Tenant desires to move early under these conditions.
The other option, if Owner does not have the ability to pay for the repairs and or replacement, then 3G will cover this cost and deduct from the Owner's rent with an additional 10% interest on any unpaid fees due until 3G has been reimbursed in full. These conditions will not allow the Owner to terminate the Property Management Agreement until the end of the Tenant’s lease term.
If a balance is still due to 3G Properties Group, an Owner is not allowed to terminate the Property Management Agreement until the balance is paid in full and supersedes Addendum #A.5 above.
DISBURSEMENT to the Owner is made by the 15th of each month. Broker will divide all late fees collected after the 9th of the month 50/50 with the Owner.
If Owner does not provide the required insurance per the Property Management Agreement paragraph #10,
to include renewed policies, Owner will automatically be enrolled in the Broker’s Master General Liability Insurance Plan that lists Broker/3G Properties Group as an additional insured. The cost is $10.33 with a $3.67 administration fee, a total of $14.00 a month per property.
Owner may opt-out of Broker’s Master General Liability Policy at any time by providing a copy of current public liability insurance with a minimum coverage of $300,000 that lists Broker/3G Properties Group as additional insured.
There will not be a charge if Owner provides proof of required insurance no later than 15 days from execution of this agreement per paragraph #10.
Owner shall indemnify and hold the Broker/3G Properties Group harmless from any occurrence, liability, action, damage or litigation that arises during any period where no insurance exists or the policies lapse. Furthermore, if Owner's insurance is inadequate or fails to defend Owner and Broker/3G Properties Group from any occurrence, liability, action, damage or litigation, Owner shall be solely responsible. All policies shall provide that Broker/3G Properties Group is provided 30 days notice of cancellation.
Owner understands that a vacant dwelling may not have proper insurance coverage. Owners should consult with their insurance agent to determine if additional coverage is needed.
IMMEDIATE EVICTION - In cases where a property comes under 3G Properties Group management with a Tenant in place that the Owner wants to immediately evict, 3G Properties Group will charge a flat fee of $500 to represent the Owner in Eviction proceedings.
We appreciate and encourage our Owners to review their monthly statements. We are happy to answer and resolve any questions or issues that are brought to our attention within 45 days of your statement posting.
If the broker must arrange repairs DURING THE TERM OF A LEASE that exceed owner’s reserve,
owner must deposit prior to commencement of said repair a minimum 50% of the expected cost of the repair. Balance will be due upon completion of the job.
Owner must provide HOA governing documents, active builder, manufacturer, roof, foundation, and any other applicable warranties to 3G Properties Group prior to commencement of management or as soon as warranted work has been completed.
Owner MUST ACCEPT SERVICE DOGS AND/OR EMOTIONAL SUPPORT ANIMALS in the property if the tenant supplies appropriate documentation, even if the property is listed as No Pets. In addition, no pet fee or pet deposit or increase of rent may be collected regarding said service dogs or emotional support animals.
In order to MINIMIZE LIABILITY RISK TO OWNER, regular maintenance and repair items that would normally be a Tenant Responsibility as per Paragraph 17 of the lease,
will be performed by 3G Properties Group’ personnel if such repair or maintenance item requires the tenant to utilize a ladder of greater than 6’ in height or to enter the attic of the property. In the case of light bulb replacement, the Owner shall be responsible for labor costs and the tenant shall be responsible for materials.
Owner should expect a MINIMUM 7 DAY TURN between tenants.
3G Properties Group will have the right to modify the terms of this Agreement by giving the Owner 30 days advance written notice of such modification(s). Owner may reject such modification(s) of the Agreement’s terms. If Owner rejects such modification(s) of terms, Owner may terminate the Agreement without being subject to any Early Termination Fees or penalties by providing 3G Properties Group with written notice of its desire to terminate the Agreement.
Owner’s failure to notify 3G Properties Group in writing of its objection to such modification of terms within thirty (30) days of receipt of such written notice from 3G Properties Group will act as a waiver of any objection to the modifications and shall be deemed as consent to such modifications in their entirety.
If the Owner decides to sell the property while the resident is occupying the property, the Management Agreement will terminate immediately but any fees due to 3G Properties Group shall remain due and owing.
Owner agrees to receive all communication, reports, and annual IRS 1099 via electronic delivery.
3G Properties Group does not manage properties with home warranties. Owner shall not cause the Property to be covered by a home warranty policy during the term of this Agreement. If Owner causes the Property to be covered by a home warranty policy, 3G Properties Group shall have the right to terminate this Agreement upon 30 days' written notice to Owner.
