Management Services

Only Pay For The Services You Want and Need

At 502 PM, our investor-owner clients only pay for the services they want, and they get what they pay for. We are a team of hands-on, meticulous property managers, not caretakers or just rent collectors. All of our fees are collected from tenant payments, so owners have no out-of-pocket expenses. Our services and payment schedule are clear and upfront!

  • Services Fees

    • Property management - 9% of collected monthly rent
    • Leasing services when the property is vacant, fee scale below:
    • If tenant is placed in 1 month or less - full first months rent
    • If tenant is placed in more than 1 month - ½ months, rent
    • Property leased by a licensed Realtor in the state of Kentucky. Includes but not limited to marketing, (advertising and viewings), tenant application screening,
    • Lease and document execution, move-in inspection, key transfer, tenant and owner portals, publishing leasing documents to owner portal.
    • Maintenance fee - $25 per ticket, $50 per trip if 502PM should need to meet contractor.
    • Lease renewal fee - $100
    • Early termination fee - one month management fee.
    • Property management fees and leasing fees are collected directly from the tenants, no out-of-pocket cost to the owner.

  • Services Included

    • Rigorous tenant screening process using artificial intelligence (background checks, credit history, eviction and civil judgements, tenant verification and reference checks).
    • Management of all move ins/move outs.
    • Collecting, holding and disbursing tenant security deposits (responsible management of financial/legal liabilities) in escrow per KRS statutes.
    • Collecting rent through a robust property management system.
    • Direct bank deposits of rental income to owners.
    • Monthly/quarterly/yearly accounting and reports, including vacancy reports.
    • Expense tracking for tax deductions.
    • Income statements/ 1099’s for tax filings.
    • Executing “7-day notice to pay or vacate” when tenants are late on rent.
    • Preparation of eviction files; coordination with legal counsel for possession. There will be a $500 fee charged to the tenant; however, if this is not paid for by the tenant, the owner will be responsible for this fee. We will pursue legal action against the tenant to recoup this fee for the owner.
    • Fielding maintenance requests and emergencies from tenants - property maintenance is the responsibility of the homeowners and tenants. A property management contract does not include cost or labor related to the maintenance and repair of your assets. 

    Your contract does include management of repair and maintenance requests. Maintenance costs are billed to the homeowner as a tax-deductible expense against your income. We charge a 10% fee that covers administrative costs.


    We manage single-family homes, duplexes, and commercial properties. Contact us to discuss your property and your real estate investment goals. 

Dedicated to Serve You

Rental Collection

A central point for rent collections through our office or online for our residents.

Communication

Available 24 hours a day to serve owners and tenants via on-call answering service.

Inspections

Quarterly property inspections provided to protect owner’s valuable investment.

Repairs & Maintenance

Repairs and services arranged as needed, to maintain the value of the property.

Save time

Save time responding to customer requests. This frees you to do other things, like finding new customers.

Easy to edit

It’s easy to manage all of your documents in one place. You can also share with colleagues in a click. 

Friendly support

Our support team is here to ensure that things runs smoothly. You’ll always find the help you need. 

Grow your business

Watch your profits increase and your value rise as you boost efficiency. It’s easier than you think.