Authority & Duties of Agent
What is one of the duties of the agent?
Rent, manage, maintain, and operate the property.
What is one of the responsibilities of the owner?
See Section VI
What are the terms for terminating management?
10-day written notice
When is the owner's payout each month?
Owner pay out is done between the 10-12 of each month.
If legal assistance is needed, who is responsible to pay for it?
OWNER shall reimburse AGENT for AGENT’S time, expenses, and cost of legal assistance.
What are Red Rocks management fees?
10% for a single property plus inspection fees.
Red Rock requires how much $ to be in reserves?
$300
How often do you do inspections and what is the cost?
$49 a quarter for 2 in-home inspections & 2 exterior inspections
OR
$79 a quarter for 4 in-home inspection
If Red Rock performs services not typically included in normal property management, what is the fee?
$75 per hour
If OWNER does NOT want AGENT to perform a lease renewal, OWNER must notify AGENT in writing how many days before the lease expires?
Minimum of 90 days prior to the lease expiration date.
While the property is vacant what is Red Rock authorized to do at that property?
Hire a professional landscaper and cleaner
How do you determine what my property will rent for?
Comparable properties within the same area that are currently advertised.
How many days does the tenant agree to allow Red Rock for a property turnover?
7-14 business days
When is an owner able to list their property for sale?
OWNER will not list the property for sale except during the last 60 days of any lease agreement and with prior written notice to the AGENT.
What is the cost to terminate management within 90 days of signing?
$500 plus any other expense
Do I have a say in who the tenants are?
Negotiation of Leases or Rentals falls under the Agents responsibilities.
If an owner gives a 10 day notice to terminate management within 60 days of the lease expiring, what is Red Rock's policy?
The OWNER shall be responsible for completing the security deposit disposition to the tenant or ex-tenant and abide by all Federal, State, and Local Fair Housing Laws.
What is Red Rocks policy if the property is vacant and the owner chooses to coordinate repairs?
If an owner doesn't replenish reserve funds within 10 days of request, what is the fee?
$250
I do not want to make my property dog friendly? Can you do that?
The owner understands that ESA and service animals are verified by Red Rock, but we are liable to rent to the applicant if they check all the boxes.