Owners may have some questions about the fees:
1. Why am I being charged Rs. X for my management fee?
You can understand this by looking at the Property Contracts in Zoho.
Please go to:
Zoho -> Properties -> Property Contracts -> Filter by Prop ID
The fields to check are:
- Model (standard plan or Value plan)
If model=standard plan, please check:
- Management Fee (this is a %) - usually 9%
- Minimum Fee
If Model=Value plan, please check:
- Management Fee (this is a %) - usually 9%
- Tenant Placement Fee (usually 50%)
Since the management fee, is a % of the rent, you will also have to check the current rent amount. For this, please go to:
Zoho -> Tenants- >Tenant Contracts & filter by ContractStatus = "Active" and PropID
You can then do the calculations and understand the charges.
2. Why am I charged a tenant Replacement Fee.
A tenant placement fee is only charged in the Value plan. It is charged every time we place a new tenant.
It is waived if the owner gives the tenant lead.
For other calculations please see above section on "Management fees"
3. Why am I charged a Coordination Fee when I am already paying a management fee?
This is as per the Property Management Contract signed (Please refer to the Fees section)
Since the vendors bill the customer directly, we don't add any overheads on the bill. We like to keep it transparent.
But depending on the bill, there is considerable work our team does to:
- Shortlist vendors
- Get quotes and negotiate the same
- Coordinate the work
- Do quality checks.
If the owner is managing all this on their own, we will not be charging anything.
Management Fee is for the regular management of placing and managing tenants and the property.
4. The management fee should be only on the Rent amount and not on association maintenance amount
The tenant agreement can be signed with the Rent amount including or excluding maintenance.
Our system will charge the management fee on the rent amount mentioned.
If the Rent is 'excluding maintenance', our system will charge 9% on the Rent Excluding maintenance and the tenant will need to pay this maintenance amount directly to the Association.
If the Rent is 'including maintenance', our system will charge 9% on the whole amount Base Rent + maintenance and we will transfer the whole amount minus our fees to the owner and they can pay the association. Alternatively we can also pay this on the owner's behalf. You need to inform the ACT team if so.
5. I need some discount on my management fees
We don't give any discounts on management fees. We have fixed charges.
(If he insists, say you will discuss & revert and you can discuss with your manager)