A management agreement hands someone the keys to your investment. These are the questions owners should ask any property manager, with FIG's answers straight from our full management agreement.
Anytime, with 30 days' notice. No termination fee.
Either side can end the agreement for any reason with 30 days' written notice. If you sell the property, notice can end on the closing date. Within 30 days we hand over leases, ledgers, keys, deposits and a final accounting to you or your new manager.
One fee schedule, published on our pricing page.
Management from 7% of rent collected, a 50% leasing fee, $250 per renewal, $10 per unit for accounting and software, $25 per unit for maintenance coordination, and a one-time onboarding fee from $50 per unit. Late, application and returned-payment fees are paid by residents and kept by FIG. See full pricing.
In a trust account, separate from ours.
Rent, security deposits and other owner funds sit in a trust (escrow) account at a federally insured bank, as Tennessee law requires. They are never mixed with FIG's operating funds.
Nothing. We don't require a reserve.
Many managers require owners to keep a reserve on deposit. We don't. If a month's expenses ever exceed the funds we hold for you, we'll send a written request for the difference.
We send your ACH payment on the 10th of every month.
Your payment is the rent collected minus our fees and any property expenses paid, with a statement in your owner portal. When the money reaches your account depends on your bank.
$300 per repair, $1,500 per unit turn.
Anything over those amounts needs your approval first. The exception is a true emergency, such as a threat to safety, further damage to the property, or a resident left without heat, water or power. In that case we act right away and tell you as soon as we can.
One leasing fee a year, and we pay to evict tenants we placed.
We charge no more than one leasing or renewal fee per unit in any 12 months, so we never earn more from turnover. If a resident we screened and placed has to be evicted, FIG pays the court costs and attorney fees for that eviction.
We do, start to finish.
We serve the notices, file through our attorneys, handle the court date, and coordinate the writ and set-out. You get an update at every step. Not a full management client? Eviction Only is available as its own service.
An agreement covers fees and terms. It doesn't tell you whether the company will treat your property like its own.
Our founders own many of the rentals we manage. Our team is rewarded for low vacancy, resident satisfaction and owner profit, not for signing leases. And 98% of our owners stayed with us in 2025, which is how we grew to more than 700 homes: owners telling other owners.