Rent is due on the 1st day of each month with a 3-day grace period. On the 4th day, rent is considered late, and if we still have yet to receive payment by the 5th day, we will deliver a late notice to the tenant. If the tenant does not make immediate arrangements for the rent payment, we may take further action, if necessary. American Property Management will always discuss the situation with you, the owner, and suggest a course of action. To ensure prompt payment of rent, we strongly enforce late fees. Still, we are happy to report that we get very few problems of this sort.

Accounting Services
Our accounting system enables us to keep full records of every income and expense that affects your property. A monthly statement and check is mailed on the 8th of the month. We also deal with the end-of-year, tangible personal property tax returns. Each January, you will receive a 1099 and supporting comprehensive annual statement. We know that our client's needs may vary, so we offer the flexibility of these additional services free of charge: direct deposit, property insurance that can be paid from our office, payments of homeowner association fees, or mortgage payments can be paid from your income. We are happy to try to accommodate any further services you may require.

Management Fees
Our monthly management fee is payable when rent is received. It is automatically deducted from your account at the time the rent payment is posted. However, since our job is keeping your property occupied, there will be no management fee if it is vacant. Our lease term is 12 months, unless otherwise discussed. Our management fees are as follows: to find, screen, and install new tenants, we charge 50% of the first month's rent, then 10% management fee per month of rent collected. Lease renewal is just a 25% fee of the first months' rent. A renewal is for tenants who stay in a property for many years, of which we have many.

Enclosed Package Forms
You will receive a copy of the inspection report (used on each inspection and always kept in file), a copy of the W-9 Form (request for taxpayers' ID number and certification), and a copy of owner's details (contact details so we can talk to you immediately should the need arise).

Thank You
We hope you find this information helpful, please do not hesitate to contact us if you have further queries or questions. We would like to take this opportunity to thank you for taking the time to review our services, and hope we can be of assistance to you in the near future.

Contact us today for professional property management.