Our responsibility and commitment to you: We provide important disclosures about the services our company offers to Owners, Tenants, and community stakeholders, including fees and costs, conflicts of interest, and standards of conduct.

WHAT IS THE DUTY OF DISCLOSURE? 

DISCLOSURE: An agent is obligated to disclose to their principal all relevant and material information that the agent knows and that pertains to the scope of the agency. The duty of disclosure obligates a real estate broker to reveal to the principal:

• Any facts affecting the condition / value of the property.

• The broker’s relationship to, or interest in, a prospective tenant.

• The Broker must disclose all profits related to the Agency Relationship. The Broker must not have secret commissions, or bribes, or profits from the fiduciary position. This includes any benefits or profits which, although unrelated to the fiduciary position, came about because of an opportunity that the fiduciary position afforded. It is unnecessary that the principal would have been unable to make the profit; if the fiduciary makes a profit, by virtue of his role as fiduciary for the principal, then the fiduciary must report the profit to the principal. If the principal provides fully informed consent, then the fiduciary may keep the benefit and be absolved of any liability for what would be a breach of fiduciary duty.

• Any other information that might affect the principal’s ability to obtain the highest price and best terms in the rental of their property.

CAVEAT: An agent’s duty of disclosure to their principal must not be confused with a real estate broker’s duty to disclose to non-principals any known material facts concerning the condition / value of the property. This duty to disclose known material facts is based upon a real estate broker’s duty to treat all persons honestly and fairly. This duty of honesty and fairness does not depend on the existence of an agency relationship.

Rentor Disclosures

How does Rentor fulfill its Duty of Disclosure?

• Rentor has Property Management Agreements that provide authority, discretion, and disclosure of Rentor's authorization to perform property management activities and implement services to Tenants.

Owner Statements & Year End Reports

• Does Rentor send out Form 1099?

• Owner Statements & Reports

  • Owner Statement = Chronology like Bank Statement

  • Cash Flow Summary Report = Summary by GL

  • Cash Flow Passthru Detail Report = Shows individual transactions by GL including Rentor passthru for discounts, tenant fees, etc.

• What is on the Cash Flow Passthru Detail Report?

Maintenance

• Do you mark up invoices from vendors?  No, but we have discount agreements with Preferred Vendors.

• What is the Maintenance Coordination Fee (MCF)?   If identified as a charge in your Property Management Agreement (PMA), the $20 per dispatched work order, but this does not include regular turnover work, inspections, or recurring work like landscaping.  REMEMBER: The better condition we get the property at turnover, the less Work Orders the Tenant will have to report!

• How can I sign up for additional Property Condition Reviews (PCR)?

Tenant Fees

• WHAT TENANT ADMIN FEES DO TENANTS PAY DIRECTLY TO Rentor? Rentor provides services to Tenants and charges fees. The gross profit from these fees are used to pay third party vendors and/or cover overhead for Rentor's administrative activities and time related to providing said services.  EXAMPLE: Rentor charges an Application Fee that is used to pay third party services like credit card processors, background screening agencies, and to cover administrative time to provide the application processing service. 

  • • Fees: Manager may receive and keep fees and charges from Tenants for: (i) requesting an assignment of lease or sublease of the Property; (ii) processing credit applications ($42 per applicant); (iii) any returned checks and/or late payments; (iv) Pet Admin Fees ($25/month per pet); (v) Utility Coordination/Transfer Fees ($25); (vi) Resident Benefits Package fees ($25/month plus $5 per additional financially responsible individual); (vii) Initial Lease Onboarding Fee ($95); (viii) Annual Renewal Fee ($100); and (ix) any other service fees paid by Tenant to and retained by Manager.   (Subject to change. Updated 1/29/22)

Affiliated Companies

• N/A

Unaffiliated Companies

• Enterprise Bank - Bank may compensate Manager by offsetting the cost of normal banking and accounting services as consideration for Manager's Company and Trust account balances being on deposit. As of 11/30/21, the bank provides 1.00% of the combined balances to offset fees and eligible invoices only and does not reimburse Manager with these funds.

• Partners.RPM101.com

• Charge Account Vendors

Privacy Policy

• See privacy policy and California Consumer Privacy Act (CCPA) at Privacy.RPM101.com.

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• Lease/Rental Disclosure Chart v.2018 (Add newest version from Published Sheet)

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