I do property management and they way I structure it is this:
Plan A (5% of monthly rent)
â€¢ Landlord is invoiced directly from vendors for repair services
â€¢ The tenant pays rent directly to the landlord.
â€¢ Gladstone Group assesses problems, hires vendors for reparation, oversees and signs off on work at completion, but does not hold money.
Plan B (10% of monthly rent)
â€¢ The Gladstone Group collects rent and deposits it into an Escrow Account held for the Landlord.
â€¢ A dollar limit for â€œoperating fundsâ€ is established and all rents beyond that amount are paid to Landlord monthly.
â€¢ All vendors, mortgage payments, tax payments, property insurance payments, etc., are paid out of the Escrow Account for the Landlord and a monthly accounting is submitted.
Let me know if you need any further information.