Monthly management
TYPICAL PM
10 to 12% of rent
WELLRUN
4% of collected rent
A typical PM bills you eight ways. We bill you one.
4% of collected rent, plus a small share of upside we create. No placement fee, no renewal fee, no repair markup, no cut of late fees, no charge on vacant units. If rent doesn't land in your account, we don't get paid.
No commitment. Month to month if you join.
TYPICAL PM
Monthly management
10 to 12% of rent
Tenant placement
50 to 100% of one month's rent per new tenant
Lease renewal
$150 to $300
Maintenance markup
10 to 20% on every invoice
WELLRUN
Monthly management
4% of collected rent
Tenant placement
$0
Lease renewal
$0
Maintenance markup
$0. You pay contractor cost
This is how usually PMs make money.
A month's rent every time a tenant moves out. A cut of every repair invoice. A share of every late fee. A management fee whether the unit is full or empty. Now ask why your tenant left, why the repair cost so much, and why nobody called about the late rent.
We removed every one of those. Our fee is a percentage of rent that actually lands in your account. The only way we make more is if you do.
Their fees vs. ours
Most PMs advertise a low monthly rate and bill you for everything around it. Here is the full list.
Tenant placement
TYPICAL PM
50 to 100% of one month's rent per new tenant
WELLRUN
$0
Lease renewal
TYPICAL PM
$150 to $300
WELLRUN
$0
Maintenance markup
TYPICAL PM
10 to 20% on every invoice
WELLRUN
$0. You pay contractor cost
Eviction coordination
TYPICAL PM
$200 to $500 plus attorney
WELLRUN
$0. Attorney fees are yours
Late fees collected
TYPICAL PM
PM keeps 50 to 100%
WELLRUN
100% to you
Fees charged to your tenants
TYPICAL PM
Application markups, convenience fees, service charges
WELLRUN
None. Fewer tenant fees support renter satisfaction and lower vacancy.
Vacant unit
TYPICAL PM
Some PMs still charge a fee
WELLRUN
$0. No rent, no fee
Ranges are typical for single-family and small multifamily in the US. Your current contract will show you where you fall.
We measure whether your tenants would stay.
Most PMs never ask a tenant how it's going. We survey every renter after every maintenance request and every six months, and we report the score to you.
88 NPS
Most consumer brands land between 30 and 50. Wellrun is at 88.
Happy renters renew. Renewals mean no vacancy, no turnover cost, no re-listing.
NPS
On a scale of 0 to 10, would you recommend living here to a friend?
0
1
2
3
4
5
6
7
8
9
10
The full scope of what PM companies do
Every PM sells the same list of services, and so do we. But we do a lot more and the biggest difference is how the work gets done. See below
The standard work. Any decent PM does these. So do we.
Owner statements and 1099s at year endFair housing compliance on every applicationSecurity deposit handling per state rulesRental license and registration renewals trackedLease templates updated for law changesUtility accounts set up and transferred at turnover
But we do things differently
Tenant placement: marketing, showings, screening, lease signing
TYPICAL PM
Listed in [1 to 2 weeks], screening depth varies by manager
WELLRUN
Listing live in 48 hours, every inquiry answered same day, screening packaged into one approve or decline call
Tenant messages
TYPICAL PM
Sit for days, voicemail after hours
WELLRUN
Answered in minutes, day or night
Renewals
TYPICAL PM
Auto-renew paperwork, money left on the table
WELLRUN
Negotiated 90 days out
Repairs
TYPICAL PM
One house contractor, no competing bids, 10 to 20% markup
WELLRUN
Three quotes on every repair over [$250], you approve, contractor cost
Move-in and move-out inspections
TYPICAL PM
A checklist walkthrough
WELLRUN
Photos at every move-in and move-out, damage billed to the party that caused it
Renters insurance
TYPICAL PM
Required in the lease, rarely verified after
WELLRUN
Tracked and enforced through the tenancy
Evictions
TYPICAL PM
Coordinated for $200 to $500, plus your attorney
WELLRUN
Coordinated in the base fee. Attorney fees are still yours.
Rent and late fees
TYPICAL PM
Collected. The PM keeps 50 to 100% of late fees.
WELLRUN
Reminders before the due date, follow-up the day after. Late fees go to you.
Monthly reporting
TYPICAL PM
A software export you decode yourself
WELLRUN
One page, two minutes to read
Other managers call these add-ons. We call them included.
We include these in our 4% management fee. Many property managers don't, or charge separately for them.
Satisfaction surveys after every maintenance request, scores in your report
Insurance claims filed and chased until paid
Proactive maintenance schedule
Utility recovery set up so tenants pay their share
Property tax assessment appealed when your bill jumps
Landlord insurance re-shopped at every renewal
Annual rent-to-market review with a recommendation
Reserve estimate updated each year so repairs don't surprise you
Want us to handle the owner stuff too?
A property manager stops at the property line. The LLC, the taxes, the mortgage, the insurance policy, the refinance. That is still your job. For owners who want none of it, we take that too, for a flat monthly add-on quoted per entity.
Entity
LLC annual reports and state renewals filed
Registered agent renewed
Entity-level books: mortgage, insurance, taxes, distributions
LLC bank account reconciled monthly
Taxes
Year-end package prepared for your CPA
LLC return prepared and filed through our partner CPA. You review and sign
Depreciation schedule maintained
Cost segregation reviewed when it makes sense
Quarterly estimated payments calculated and reminded
Insurance and lending
Landlord policy managed end to end: renewals, coverage review, carrier changes
Mortgage payments monitored, escrow analysis reviewed
Lender correspondence handled
Refinance and HELOC document packages assembled: rent roll, T12, leases
Portfolio
Multi-year capital plan with reserve targets
Hold or sell analysis on request
Straight answers.
Why is the fee half of what I pay now?
Because we cut the fees that don't come with work attached. Placement, renewal, markup, and late fee splits are how a PM doubles its take without doubling its effort. We charge for the work and nothing else.
What does "share of upside" mean?
When we raise your rent to market, cut a tax bill, or recover a cost, we take a small share of that gain. The exact terms are in your agreement and we walk you through them on the call. If we don't create upside, you pay 4% and nothing more.
Why isn't the add-on included in the 4%?
Because no property manager includes it. The 4% covers the full scope of a management contract. The add-on covers work that sits outside one. Owners who already have a CPA and a bookkeeper shouldn't pay for a second one.
Can I add or drop the add-on later?
Yes. Month to month, same as the management agreement. You can also take only the pieces you want.
Do you make decisions on my behalf?
No. Every lease, every repair over [$250], every tax election, every refinance is your call. We prepare, you decide.
Own the rental. Skip the landlording.
Everything between you and your tenants, handled. And if you want, everything between you and the IRS too.