Again this year like last, changes to the 2009 Arrowpoint Property Management Agreement were very minimal.
There were no increaes in any of our fees.
Per Section 4-G, If the owner sells the property to a tenant whom we have place in the property, the commission has been reduced from 6% to 3%. We did this in light of the current economic hardships that many people are facing, and the possibility that more owners may elect to sell off a property to an existing tenant.
Per Section 5-A, owner operating reserves were standardized to $750 for unfurnished condos, and $1000 for furnished properties and single family homes. This was done primarily to make certain there were adequate funds between tenants for cleaning, maintenance, painting, etc, and to provide for utility and property services where there might be landscaping, swimming pools, etc that must be maintained between tenants.
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copyright Arrowpoint Realty Inc., W Michael Novotny GRI, Designated Broker