Policies and Procedures
Following is a general overview of the Management agreement and
Policies and Procedures Managing Houses
· We require all tenant
security deposits to be held in a Milligan Realty trust account; this is a separate account (Provincial
· We retain a minimum of $100
in your account. By law your account is never in a negative balance, i.e. if by chance a tenant pays late and
the check bounces and we have paid you out. Milligan Realty submits the shortfall till the tenant replaces
monies or we request a cash call.
· We collect rents and pay
bills through out the month and transfer the balance by way of owner draw around the
27th of each month.
We either mail but most often deposit to your bank account.
· We normally to not pay
insurance, property tax or Mortgage payments unless we budget for them. This is the owners
· We charge back advertising
at this same rate as we pay
· We do not have any
surcharges charges for repairs and maintenance, carpet replacement, or painting. Major
renovations and capital improvement may have a charge to be negotiated at the
· We do not charge for ads on
our website. About 30 – 40% of our rentals come from this site www.milligan.ab.ca
· We advise the owner of
expenses above $1000 unless it is an emergency.
· If we are required to
commence legal action against a tenant. Milligan Realty has the right to charge back our time and expense to
accounting system is by Propertyware. A Cloud based internet system. Owners have their own access to their
portal 24/7. View the income and expense in real time, and then we post the statements around the 27 of
the month. Never loss or misplace your statement again. Arrange to give your accountant access so you won’t
have to worry about delivering all the paper work.
Fee Schedules on single Family Houses
· 10% of rents collected (We do have a
· 12% of Rents collected (Canadian Citizen
working out of Country. Submitting Tax Etc.) Or acreage property.
· $5 per Month per unit Admin Fee (mail,
provincial tenant forms, bank charges, computer Etc)
· $175 for placing Tenant for homes under
$1,300. Per month, and $300. For homes renting out at over $1,301.
· Charge back cost of advertising, Credit
Milligan Realty is an independent Real Estate firm
incorporated in 1979
We are licensed and governed by the Real Estate Council of
We are members of the following
Edmonton Real Estate Board
Alberta Real Estate Association
Canadian Real Estate Association
Office 780 4785381
Toll free 1800 419 1147
Fax 780 4782121