Comprehensive Referral Q&A for Baltimore Real Estate Professionals
Agents regularly send us clients via our referral scheme, and the same questions come up all the time. Here, we answer them directly, including what we do, how our referral program works, and all the essentials you need to know.
Who is Premier Property Management?
At Premier Property Management Investment LLC, we have managed properties in Baltimore since 2007. The company was founded by Charles Barnett, who came up through maintenance and repair coordination. He holds a Finance degree from Morgan State University and is a licensed Maryland real estate agent.
We’re based in downtown Baltimore, and we manage properties across Baltimore City and Baltimore County, as well as Anne Arundel, Frederick, Carroll, Howard, Harford, Montgomery, and Prince George’s counties.
What will my client receive?
We provide full-service management. This includes:
- tenant screening and marketing
- lease preparation
- rent collection
- maintenance
- move-in and move-out documentation
- itemized monthly statements
- annual statement for taxes
We coordinate maintenance around the clock, and we have a licensed general contractor on staff. Our field operations managers also inspect properties directly.
We provide a 12-month tenant warranty for every managed property, and we handle a wide range of properties, from single-family homes to HOAs and short-term rentals.
Some owners may prefer to self-manage. In this case, we offer tenant placement on its own. We market the property, screen and qualify tenants, and contract the tenant, then leave it to the owner to manage the property.
How much will it cost my client?
We charge 10% of monthly gross rent for one to four units for our management services. For five to seven units, we charge 9.5%, and for eight to 10 units, 9%. The final rates depend on different factors, from property type to location and maintenance needs.
Tenant placement is separate and is equal to one month’s rent. Nothing is due until the tenant moves in.
Lease renewals typically cost from $100 to $299. This depends on local requirements, and there is a $99 startup fee in some locations.
We’re clear about all the numbers, and investors are welcome to compare them. Because owners know exactly what they’re paying, they won’t call later asking questions.
The Referral Program
You can take advantage of our referral program and earn for every signed client. Here are the details you need to know.
How much is the fee?
The fee is $500 for every referral who becomes a signed client.
When is payment made?
When your client is enrolled in our property management services. This is strictly only at enrollment, and payment is not made at introduction or first conversation.
What mistake can cost agents the fee?
The biggest mistake is submitting the referral form after the client has contacted us. You must complete the form before your client reaches out to PPMI.
Don’t tell your client to call us and then handle the paperwork later, because this will not qualify as a referral. It’s easy to avoid: just submit the form and tell your client to expect our call.
What is the process?
There are three steps:
- Go to our agent referral page and complete the referral form.
- Submit a W-9.
- Tell your client that we’ll be reaching out to them.
We’ll then contact the client, and they can decide whether we’re the right fit for them. If they enroll, we’ll send your fee.
Does my client have to be new to PPMI?
Yes, this program only covers new clients. If an owner already works with us, they won’t qualify.
Why do you need a W-9?
The referral fee is reportable income, so we need the W-9 for tax documentation. If you’re a licensed agent, check with your broker on how referral compensation needs to be routed.
Brokerage rules vary depending on whether payments come to you directly or via your brokerage, but that’s a question for your broker.
Is there a limit on referrals?
There is no cap on referrals, and you can earn a fee for each qualifying referral.
What if my client is buying rather than renting?
We provide investment consultation and property identification. If your client is deciding whether a rental property in Baltimore makes sense, we’ll walk them through the numbers.
Our ownership operates Cross Country Lending as well, which is a Baltimore hard money lender for investor clients who need to close faster than they could with conventional financing.
Get Started Today
If you want to get started, just head to our agent referral page, complete the form, and send the W-9. Want to talk it through first? Contact our office and we’ll answer any questions you have.
