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Fee and Expense Schedule

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This Fee and Expense Schedule (“Fee Schedule”) sets forth the amounts of certain fees, reimbursements or other amounts payable under the PMA, OneRate Addendum and other agreements entered into by Property Manager, Owner and/or other parties (“Agreement Documents”). Agreement Documents are available at www.home365.co/fee-and-expense-schedule. This Fee Schedule and the amounts set forth herein are subject to the terms of the such Agreement Documents. Any capitalized terms not defined herein shall have the meaning set forth in the applicable Agreement Document.

Please refer to the Agreement Documents for the terms relevant and for more information about how these fees and amounts payable apply. For your convenience we have provided references to relevant sections of the Agreement Documents. However, other terms in the Agreement Documents may apply or be relevant to the payment of the amounts specified herein. Please read the entire agreement for a full understanding of how the fees apply.

 

General Fees

The following sets forth certain fee or expense amounts payable pursuant to the PMA and are applicable to both OnDemand and OneRate plans. 

Fee/Reimbursement Type

Amount (USD)

Relevant Section in Agreement Documents

Description; When Payment is Required See PMA for more details and applicable terms.

Rental License Fee

$250.00

PMA, §12.5

Property Manager’s fee for coordinating and assisting a third party service provider  to obtain a rental license for a Property. Owner is responsible for all third party fees. Payable upon rental license being granted.

Overdraft Fee

The greater of $50.00 and 1.00% of the amount by which the Owner Trust Account is overdrawn.

PMA, §4.4

Fee is initially applied if the Owner Trust Account has been overdrawn for a period of three (3) consecutive business days and will be applied every 15 days thereafter for as long as the Owner Trust Account is overdrawn.

Loan Origination Fee

The greater of $100.00 and 1.00% of the Contribution amount.

PMA, §4.5

In the event the Property Manager makes a Contribution to the Owner Trust Account on the Owner’s behalf to cover an overdrawn balance or owner’s expenses.

Loan Interest Rate

12% of the outstanding Contribution amount, per annum, accruing daily.

PMA, §4.5

Interest on Contribution amount paid by the Property Manager until repaid by the owner.

Extraordinary Services Fee

$50.00 per hour

Any services not listed in PMA, §2.1; PMA §2.7

Hourly fee for services not part of regular management tasks will be agreed with the Owners prior to charging such a fee.

Brokerage Exclusivity Fee

$600.00

PMA, §2.6

Sale of Property without use of Property Manager as broker.

Administration Fee

Equivalent to the Management Fee

PMA, §5.1

Fee for rent collected by Owner.  For avoidance of doubt, this is in addition to the Management Fee.

Transaction Fee

$15.00

PMA, §6.4

Fee for more than one distribution of Net proceeds in any calendar month.

Smart Lock Installation Fee

$150.00

PMA, §7.5

Fee for installation of each Smart Lock on a Property.

Smart Lock Usage Fee

$10.00 per month

PMA, §7.5

Monthly fee for the operation and software used in the Smart Locks installed on a Property.

Late Payment Fee

An amount equal to 10% of the amount that is overdue.

PMA, §3.2

Failure of Owner to make payments to Property Manager or Trust Account when due.

Reserve

$250.00, unless otherwise required by Property Manager

PMA, §4.2

Default amount to be held in reserve in the Trust Account to pay amounts due by Owner or in connection with the Property.

Evicted Tenant Collection Fee

30% of the gross amount received

PMA, §7.6(d)

Portion of the award or other amount received as a result of an Action to be paid to or retained by Property Manager (in addition to reimbursement of costs and expenses and other amounts due to Property Manager).

Expense Limit Requiring Owner Approval

$300.00

PMA, §8.1

Property Manager shall seek approval from Owner for maintenance and repairs exceeding this amount except (i) in an emergency where repairs are immediately necessary for the preservation and safety of the Property; (ii) to avoid suspension of essential services; (iii) to avoid danger of physical harm to the Property; or (iv) to comply with federal, state, or local law or regulation.

OnDemand Fees

The following sets forth certain fee amounts and other amounts payable related to the OnDemand services.

Fee/Reimbursement Type

Amount (USD)

Relevant Section in Agreement Documents

Description; When Payment is Required See OneRate Addendum for more details and applicable terms.

Management Fee

As set forth in the Signature Page.

PMA, §3

Monthly fee for management of a Property. The Fee is due upon collection of each monthly rent from a Tenant (“Rent”). Management Fees due for periods of less than the monthly rental period will be prorated.

 

If the Property is vacant due to Owner’s request not to rent the Property (Non Rentable), for any reason, Management Fees will be due as if the Rent has been collected based on the rent as per the prior Lease.

Stabilization Fee

The greater of either the Management Fee or $100.00.

PMA, §3

Monthly fee for Property that is designated as non-rentable at any time or has a delinquent Tenant(s) as of the Effective Date. This fee will be billed until such time that a rental payment is paid by the Tenant(s). Management Fee is equal to the agreed percentage of rent multiplied by the expected monthly rent. Not payable in a month where Management Fee has been paid or thereafter.

Leasing Fee

As set forth in the Signature Page and if no amount is designated then fifty percent (50%) of the first month’s Rent.

PMA, §2 and 7.1

Fee for procurement of a Tenant(s). Payable upon execution of a lease with Tenant.

Lease Renewal Fee

20% of the rent to a maximum of  $350.00

PMA, §2

Fee for renewal of a lease with an existing Tenant. Payable upon execution of extension of Lease.

Eviction Fee

$700.00

PMA, §7.6

Fee for initial Eviction. Payable prior to commencement of the eviction process.

OnDemand Termination Fees

Marketing Cancellation Fee

$250.00

PMA, §16.6(d)

Termination of Agreement by Owner for a Property which is in the marketing stage and prior to execution of lease with a Tenant.

Material Transfer Fee

$200.00 per Property

PMA, §16.7

Fee when offboarding for Property Manager to transfer, provision or reproduce any documents, information or materials for or on Owner’s behalf, including, without limitation, ledgers, keys, history, documents and balances.

Termination Fee

Management Fees payable through balance of Term.

PMA,  §16.7(b)

Fee paid in the event of termination of the PMA by Owner for convenience or by Property Manager for cause. Will be billed and payable prior to a final distribution of any held owner balances.

OneRate Covered Service Fees

The following sets forth certain fee amounts and other amounts payable pursuant to the OneRate Addendum.

Fee/Reimbursement Type

Amount (USD)

Relevant Section in Agreement Documents

Description; When Payment is Required See OneRate Addendum for more details and applicable terms.

OneRate Services Fee

As set forth in the Signature Page, or as adjusted in accordance with OneRate Addendum.

OneRate Addendum §1.1

Monthly fee for management of a Property and access to OneRate Covered Services.  OneRate Fee is due and payable each month from the Effective Date.

Deductible

As set forth in the Signature Page.

OneRate Addendum §6.4

Fee for each instance of a OneRate Covered Service performed by the Property Manager.

OneRate Termination Fees

Inspection Fee

$250.00

OneRate Addendum, §7.5(a)

One-time fee payable in the event Owner terminates following receipt of the Adjustment Notice.

OneRate Termination Fee

During the Initial Term, the greater of:
(i) the total value of expenses incurred by Property Manager for OneRate Covered Services during the six (6) months prior to termination less 10% of the Rent paid by the Tenant during that period; and
(ii) the remaining Onerate Services Fees payable until the end of the Term.

During any Renewal Term, the second limb ((ii) above) will be excluded from the calculation.

OneRate Addendum, §7.5 and PMA §16.7

Fee paid in the event of termination of the OneRate Addendum by Owner without cause or by Property Manager for cause.