Property Management

Property management is a valuable service you can provide to landlords looking for more than just tenant placement. At Dalton Wade, we handle property management using AppFolio, a professional management platform that streamlines rent collection, disbursements, and recordkeeping.

Leasing vs. Property Management

It’s important to understand the distinction between leasing and property management:

  • Leasing is the process of marketing the property, finding a tenant, screening applications, and preparing lease documents.
  • Property Management begins once a tenant is in place and the owner signs a Property Management Agreement. This agreement authorizes you to manage ongoing activities like rent collection, maintenance coordination, and communication with tenants.

While most property management relationships begin after leasing a property, this is not always the case. Sometimes landlords already have tenants in place and simply want management services.

Getting Started with Property Management

  1. Sign the Property Management Agreement
  1. Setup in AppFolio. Agents are added as Property Managers and will have their own portal to manage their units. 
    • After the agreement is approved, Miles (our AppFolio administrator) will set up both the landlord and tenant in the system.
    • This setup enables the tenant to pay rent online and the landlord to receive monthly disbursements via ACH.
  1. Handling Security Deposits and Last Month’s Rent
    • Tenants may remit deposits and advance rent either directly through AppFolio.
    • Deposits must always be handled according to our escrow rules. (See our escrow articles in the KB for account information.)

Fees & Compensation

  • Landlord Fees
    • Property management fees are negotiated directly with the landlord, typically around 10% of monthly rent.
    • These fees are billed and processed through AppFolio.
  • Agent Fees to Dalton Wade
    • $79 annual fee per property.
    • $20 monthly administrative fee per property.

Training & Support

For more information or clarification, please reach out to Miles directly at Miles@daltonwade.com.

Dalton Wade provides customized training so you can confidently use AppFolio for your management portfolio:

  • Personalized Training: Support is available via phone calls, emails, or Zoom sessions. We’ll show you step by step how to:
    • Add a property and assign a tenant.
    • Set up recurring charges.
    • Create bills for your management fees.
  • Dalton Wade Resources: We provide internal guidance specific to how Dalton Wade requires units and fees to be set up. This is important because not all AppFolio training applies directly to our workflow.
  • AppFolio Training:
    • AppFolio offers a comprehensive training library of videos, guides, and infographics.
    • You can access their Resource Center for tutorials on everything from billing to reporting.
    • Use these resources for general navigation, but always follow Dalton Wade’s specific process for unit charges and fee creation.
Dalton Wade Real Estate Group Logo in White

Dalton Wade Real Estate Group is a 100% commission brokerage offering agents industry-leading support, cutting-edge technology, and flexible lead programs without monthly or hidden fees.

Facebook-f Youtube Instagram Linkedin

Resources

Joining Dalton Wade

Dalton Wade Agent

Contact us

Corporate office

  • Station House
    260 1st Ave South
    St. Petersburg, FL 33701