Owner Price List
Set-up Fee: $0
There is no set-up fee for new accounts.
Ongoing monthly basic fee: 7.8%
This is the basic fee for rental of a residential single unit such as a single-family home, condo or townhouse in Portland (the rate is a tad higher, 8.5%, for units outside Portland). If we don’t collect rent, you don’t pay the fee.
Multi-unit properties receive the following discounted rates:
2 to 3 units: 7.5%
4 to 12 units: 7.25%
13 to 30 units: 7.0%
30+ units: 6.75%
Green Keys’ Monthly Basic Fee Covers:
Biannual property inspections
Warning notices to tenants if rent is late
72-hour notice to pay or quit to tenants in breach of contract
Communication with tenants
Emergency contact: we are available 24/7 in case of emergencies
Production of monthly owner statements
Lease renewals, a process that begins 100 days prior to lease expiration
Market analysis to determine the correct rental rate increases
New Tenant Placement Fee - $580 flat fee
This is a one-time fee for finding, screening and placing new tenants. This includes photographing the property, advertising the vacancy, and showing the property to prospective applicants. We verify each applicant’s FICO score, run a nationwide criminal background check, and verify they have never been evicted. We also verify income and ensure that each applicant reads and understands the screening criteria before they submit their application. Our rate is less than the typical rate (50% to 100% of first month's rent) charged by other property management companies.
Note: If the Owner wants only tenant placement services, without on-going management services, this fee doubles to $1,160 flat.
Lease Renewal Fee - $0
Green Keys gives tenants three options at renewal time (12-month, 6-month, or month-to-month) and reviews these options with the owner prior to submitting them to the tenant.
Vacant Property Fee - $0
If no tenant is paying to live in your unit, you don’t need to pay the monthly basic fee.
Property Inspection Fee - $0
Home inspections are done every 6 months, in November and May.
Notices & Legal Documents Fees - $0
Green Keys does not charge owners for issuing 72-hour notices or 30-day notices to tenants. The legal costs of a formal eviction process are not included.
Eviction Costs - free up to a point
Green Keys does not charge to post or mail notices, send demand letters to tenants or meet with tenants in-person to collect rent. If these collection efforts are not successful, a full legal eviction may be necessary. The owner is responsible for process server fees, attorney fees, court costs and other expenses related to a full eviction, which can take 90 days. To avoid these expenses and delays, some owners prefer to take our “cash for keys” approach to getting a tenant to move out.
Cancellation Fee - $0 if vacant; $500 if occupied
There is no fee to cancel your property management contract, provided your rental property is vacant when you submit your 30-day written notice. However, if Green Keys has rented the property to an approved applicant, there is a $500 cancellation fee.
Bill Payment Fee - $0
If you want us to make owner payments on your behalf, such as payments to mortgage or insurance companies, Green Keys does not charge an additional fee for this service.
Maintenance and Repairs Coordination - $0
Green Keys receives repair requests from tenants and then negotiates the best prices for materials and labor with reliable, proven and licensed vendors. Owners are contacted for approval if repair estimates exceed an amount specified by the Owner (usually $300).
Note: If a unit has no heat or water, or if there is a problem that jeopardizes tenant safety or health, repairs will be done within 24 hours.
Capital Improvement Invoice Fee – 10%
If you choose to have your property renovated or improved in a way that raises the value of your property, Green Keys charges a 10% invoice fee for project management. This fee covers all communications and coordination with plumbers, electricians, and other contractors to get the work done.
Airbnb and Short-Term Rental Management - 10%
Green Keys can coordinate short-term furnished rentals. You may choose to make your place available as a short-term rental through websites such as Airbnb, VRBO or Corporate Housing By Owner. As long as the 31-day minimum stay requirement is met, Green Keys can take care of handling the relatively frequent turnover required of short-term rentals and manage all communications with short-term guests and prospective guests. The fee for this service is 10% of rental income plus $90 for cleaning, which includes stripping the beds, washing sheets and towels, making the beds, and ensuring all is ready for the next guest check-in. For an additional one-time fee of $240, Green Keys will take photos, write descriptions and post ads on Airbnb and VRBO for you.
For more information, call us from 9 a.m. to 5 p.m. Monday-Saturday at (503) 758-2628.
Thank you for trusting your rental property to Green Keys!
DISCLAIMER – The terms of any signed property management agreement between an owner and Green Keys Property Management LLC will have legal precedence over this web page.