Landlording & Rental Properties

How Much Do Property Managers Charge? Here’s What Fees to Expect

Expertise: Landlording & Rental Properties, Real Estate Investing Basics, Personal Finance, Real Estate News & Commentary, Business Management, Real Estate Deal Analysis & Advice, Real Estate Marketing, Mortgages & Creative Financing
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Many landlords believe that property management fees simply cut profit margins to a minimum in exchange for basic services to maintain your rental property. But the reality is that property managers can simplify your life and smooth out the kinks in your investment properties—for a reasonable rate.

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However, it’s important to note that not all companies’ fee structures are the same. Make sure you understand how a manager’s fees work, otherwise you might shave your profit more than necessary.

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How Much Do Property Managers Charge?

Most real estate investors budget between 8-10% of monthly rent for property managers. BiggerPockets Forum users report that 10% tends to be the norm—and additional fees may cause that number to increase. (Looking for a flat fee? Unfortunately, flat rates are pretty rare.)

Before signing on the dotted line, review your financials to make sure hiring a property management company makes sense. Many landlords will find it does, but if you only have one or two properties or your budget is tight, you may want to go it alone.

Related: Investors: Believe Me, You CAN’T Afford Property Management. Here’s Why

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Property Management Fees to Know

These are some of the most common “hidden” fees, extra fees, and fee structure differences to watch for when comparing providers or finalizing a contract:

1. Rent Due and Rent Collected

Many property managers charge monthly management fees as a percentage of rent, but watch how this is worded—there’s a difference between charging as a percentage of rent due and a percentage of rent collected.

  • Rent due means your company will charge you based on how much money a tenant owes you. You may end up paying for property management even when your property is vacant.
  • Rent collected means you’ll be charged based on actual rental income. This is generally more favorable for the owner.

2. Early Cancellation

You may be charged an early cancellation fee should you break the contract with your property manager before the end of its outlined term. For example, if you agree to work with them for a year and you want out after eight months, you might pay an additional few hundred dollars. Be especially wary of this fee with untested property managers.

Related: What Does a Property Manager Do? Here’s the Job Description

3. A La Carte Management Fees

“A la carte” management fees refer to a suite of extra fees a property management firm may charge you in addition to basic services. Usually, a property manager will either charge a higher price (and no additional fees) or a lower price with multiple additional fees. The best choice depends on your property and ownership style.

Setup Fee

Many property managers will charge an initial property management fee at the start of your contract. This usually costs a few hundred dollars and is necessary to initiate your account.

Vacancy

If a company charges you based on collected rent, not rent due, there may be an additional vacancy fee, which acts much like a retainer.

Advertising

Some property managers may charge an additional advertising fee. This covers the cost of creating media, such as taking photos or videos, and marketing the property.

Leasing Fee

A tenant placement fee may apply when you're hunting for a new tenant. This covers the cost of drafting and securing a new lease agreement and tenant screening, including background checks. It's generally low in cost. In fact, high leasing fees should raise red flags—especially if your resulting tenant turnover seems to increase.

vacation-seasonal

Lease Renewal Fee

Lease renewal is a simpler process than the initial leasing, but it may still require a fee. Property managers might draw up new paperwork or renegotiate terms with a tenant, and they may charge for that extra work.

Maintenance

Most property management fees cover basic instances of maintenance and repairs that property owners wouldn't want to handle themselves. Some companies may charge extra for big jobs or for an inspection before placing new residential property tenants.

Eviction

Eviction can be a messy process, and you’ll be grateful to have a property management service in your corner. Most managers handle the eviction completely on your behalf, but some will charge you an extra fee. Expect to pay at least a few hundred dollars for this process.

Comparing Property Management Fees

Different companies might charge different property management fees. However, if they’re offering similar services, you’ll likely find the bottom-line price of each to be competitive with one another. The big difference here is how you plan on using your property management company. For example, if you’re looking for a long-term partnership, an early cancellation fee shouldn’t factor much into your decision.

Try to consider all these factors and all price points when comparing providers and making your decision.

Any other “hidden” fees you’d add to this list?

Leave your comments below!

Larry is an independent, full-time writer and consultant. His writing covers a broad range of topics including business, investment and technology. His contributions include Entrepreneur Media, TechCrunch, and Inc.com. When he is not writing, Larry assists both entrepreneurs and mid-market businesses in optimizing strategies for growth, cost cutting, and operational optimization. As an avid real estate investor, Larry cut his teeth in the early 2000s buying land and small single family properties. He has since acquired and flipped over 30 parcels and small homes across the United States. While Larry’s real estate investing experience is a side passion, he will affirm his experience and know-how in real estate investing is derived more from his failures than his successes.
    Christopher Smith Investor from brentwood, california
    Replied over 3 years ago
    My managers have been quite good. One charges a flat 8% for absolutely everything (except for the obvious like when a contractor needs to come in and make major repairs), the other 8% plus half a month rent to find a NEW tenant. I have found their fee to be more than worthwhile for the great service they have provided over the years. It has really paid off for both sides to have developed a solid long term relationship.
    hugo
    Replied over 3 years ago
    I had one property management in Indianapolis, IN that ended up costing me $20k+ because they selected a lousy tenant and they also don’t respond to maintenance requests right away from tenant or my own emails. Very bad folks.
    Pranav G. Investor from Blackwood, NJ
    Replied 7 months ago
    I have similar experience with so called Elite and not so elite Property management companies. Need to learn how to manage management companies
    Andrew Syrios Residential Real Estate Investor from Kansas City, MO
    Replied over 3 years ago
    Very good article! Always read the fine print…
    George Hough Investor
    Replied over 3 years ago
    Have had a problem with bookkeeping errors with our property management company. We were in the process of a move ourselves and fell behind on reviewing the monthly reports for a while. We strongly suspect that the property manager’s bookkeeper knew we were not watching and started skimming as the numbers started getting whacky and not corresponding to stated rent roll numbers. Now spending money for an independent audit; property manager is very circumspect about this and we are pretty sure we are goi g to have to drop the management company & move on. Lesso: never get too busy to stay on top of the numbers.
    Adam Deichert Rental Property Investor from Bismarck/Mandan, ND
    Replied 7 months ago
    People SUCK, but you’re better off just cutting ties (and your losses) and striving FORWARD!
    Marcus Morreale Real Estate Agent from North Tonawanda, New York
    Replied about 3 years ago
    A Good Real Estate CPA also helps keep things straight…
    Marcus Morreale Real Estate Agent from North Tonawanda, New York
    Replied about 3 years ago
    A Good Real Estate CPA will ensure skimming is Not taking place & will verify you are not paying for ghost tenant (repairs & maintenance), & gouging property management companies.
    Jared Decker Property Manager from St Petersburg, FL
    Replied 8 months ago
    Scary seeing so many negative posts about Property Managers! I have been a Property Manager for the past 4 years and absolutely love the job -- helping fellow investors achieve the best ROI. Plus, it's great practice for my own properties. Fees and costs are similar for every management company. You should hire a manager with good knowledge of rehab/repair costs and one that is also an investor. Those are the two pieces that have helped me and my clients time and time again.
    Account Closed
    Replied 7 months ago
    Yes, I like to hear some of the good stories. My property manager charges a flat 7%. First month's rent for new tenants. Got someone in on April 15th during pandemic. If tenant stays there for a few years it'll be worth it.
    Ashish Singh Investor from West New York, NJ
    Replied 8 months ago
    Hi Jared - Do you have someone like you in New Jersey? Thanks Ashish
    Dave Mays Investor from Madison, Wisconsin
    Replied 8 months ago
    ....and in Wisconsin?
    Bryan Caprioli Investor from Brookfield, Wisconsin
    Replied 7 months ago
    Dave, where are your properties in Wisconsin? Depending on size and location, I may be able to help you out.
    Liv Mezbizer
    Replied 8 months ago
    What part of Florida do you cover?
    Barry H. Investor from Scottsdale, AZ
    Replied 8 months ago
    JARED After 18 years and trying 5 different PMs in 4 different states, including FL, they all failed. I fear your profession, like real estate agents, is on its way to the boneyard. It's human nature to seek the path of least resistance. The PM does not own the property and will bend like the wind to avoid the work necessary to create the best possible outcome for the owner. Some become de facto tenant advocates (if a tenant acts entitled, picky etc). Some slip in repairs under the reporting threshold for handyman kickback $$$. Some do not advertise adequately (or at all), to get the best tenant for a vacancy - and often pressure the owner to take a lower rent amount. Some just flat out steal $$$ and some are just overworked. Some are all of the above. The owners who praise their PMs have just never tried it on their own - so they have nothing to compare to, They are the easiest marks. Every timeI fired my PM (5 times), my net profit increased by waaaaay more than the 10% I paid the PM. Rent has been collected electronically for the past 10 years or so. Dispatching a TRUSTED handyman is an e-mail or a texting task and with the exception of handling new tenant placement, PM duties are not time-consuming. If I ever get super busy with other things, I might use a PM to get a new tenant for me - but that's about all I would use them for - the rest is just an exercise in watching how a disinterested 3rd party tries to separate me from my $$$.
    Yaron Yashar Real Estate Agent from Tyler, TX
    Replied 7 months ago
    Definitely learnt a lot from your comment !
    Pranav G. Investor from Blackwood, NJ
    Replied 7 months ago
    Agreed 100%
    Michael Ulrich Rental Property Investor from Lansing, MI
    Replied 8 months ago
    Jared - I like your input. We've worked with a property management on most of our properties and love it that way! They are very professional, find great tenants - and give us flexibility on the maintenance side of things. I tell my wife, who is also my business partner, that I wouldn't want it any other way. We have a few properties we manage ourselves, but definitely more time and stress involved. Having a great PM is the best way for us!
    Adam Deichert Rental Property Investor from Bismarck/Mandan, ND
    Replied 7 months ago
    🤘🏻🤘🏻🤘🏻
    Bernie Neyer Investor from Chanute, Kansas
    Replied 8 months ago
    Be careful how they report the rent and expenses. Demand a spreadsheet indicting the individual unit expenses and income broken down across properties. They can duplicate expenses from one month to the next or attribute them to a different unit to hide them.
    Jimmy Stewart Real Estate Broker from Bossier City, LA
    Replied 8 months ago
    You wouldn't go to a dentist with false teeth or a barber who shaves his head right? You shouldn't use a property manager who doesn't own their own rental properties and can assure you they'll treat your home like it's their own. I personally charge $100 a month flat fee only if the property is rented. If an owner has 3 or more properties I charge $75 a month. My portfolio includes mobile homes to mansions and everything in between. I've adopted and combined a dollar cost averaging philosophy with volume sales. I manage everything from A-Z for my owners and haven't spoke with most of them for years because they know everything is totally under control. I currently managing 85 properties along with 25 of my own which isn't a home run but we all know that "base hits always win the game". In my case this provides me with a very nice source of passive income.
    Peter Nelson Residential Real Estate Broker from Seattle, Washington
    Replied 8 months ago
    I totally agree. I have been managing my own portfolio for 35 years and nearly all of our processes come from that experience AND they are substantially different than your typical, run-of-the-mill PM firm. I am not a big fan of flat fee, though. The last PM I hired 10 years ago was not incentivized to rent my units out -- they got $100/mo/unit whether the unit was vacant or not. As a result I saw higher than usual vacany rates.
    Jimmy Stewart Real Estate Broker from Bossier City, LA
    Replied 8 months ago
    I only get $100 if the home is rented. If the home is vacant and the owners aren't getting paid than I don't get paid either. It keeps the fire under my feet to get qualified long term tenants and replacement tenants ASAP. I've been very successful at getting back to back tenants so the owners don't skip a beat financially from tenant to tenant.
    Vince Cent
    Replied 7 months ago
    Passive income is buying a stock, sitting with your feet on table while watching tv and collecting dividends. What you are doing sounds like a ton of work which is great for your clients and a credit to you. Hate the phrase passive income thrown around in property investment because it is very misleading and of all the careers out there it is the least passive of them all. Even base hits take a lot of work which if they were passive, I would have made my high school baseball team. But aside from my rant, Jimmy, how does one go about finding a good property manager like yourself. All of them are going to say they work as hard as you. Are there any other indicators to finding a good property manager other than they themselves owning properties like you do?
    Russ Olivier Investor from Dallas, Texas
    Replied 8 months ago
    Do any property management companies out there do profit shares instead of revenue so that some of the risk of maintenance and poor tenant selection can be shared/mitigated?
    Deb Newell Specialist from Eagan, MN
    Replied 8 months ago
    Russ - this is not a common practice, and I have only heard of this once or twice several years ago. I'm not sure that the incentive is enough for PMCs to embrace this concept. In the end, you should find a PMC that doesn't just "place anyone", and honestly, most don't want to manage just "anyone". Remember, who they place, they have to manage, so hopefully they have good criteria in place to help them reach that goal. Make sure you are not just looking at the 'fees' they charge, but also the service and policies in place. For example: Ask about late fees, who keeps them and why, for many it is the PMC. They are the ones managing and chasing for rent, and cannot guarantee that rent will be paid on time, but should be paid when rent is received, adding an incentive to find those that will pay. It's also important not to try and negotiate too much on a companies processes, in doing so, you are asking them to remember the special favors you want for your property. They are still human and guaranteed will make a mistake when everyone else under management is on a different agreement. If most of what they offer doesn't meet your own criteria, find someone who does. There is a PMC for everyone.
    Peter Nelson Residential Real Estate Broker from Seattle, Washington
    Replied 8 months ago
    "Leasing fees are typically low." is misleading. Nearly all of the PM firms in Seattle charge 50-100% of a month's rent. We charge 50%.
    Steve Vaughan Rental Property Investor from East Wenatchee, WA
    Replied 7 months ago
    I was surprised by the 'low' leasing fee statement also. A months' rent is a low fee? A peak into the mindset of a PM I guess...
    Sun Tommy
    Replied 8 months ago
    Looking at all these comments about managers "skimming" and/or "gouging" and lack of trustworthiness...is there a property management company anyone can recommend in the Phoenix Metro area?
    Maria E. Cain-Prince
    Replied 8 months ago
    Sun - I'd love to offer my services. I have worked in the property managment business since 1992 and have finally decided to go into business for myself. I am an accountant by profession and I own my own rental properties in three different states. Let's talk. 480 202-4055 Maria
    Adi Balint Investor from Israel
    Replied 8 months ago
    i am overseas investor . blind date was my first meeting with the property manager . looked deeply into his eyes and had the feeling - honest person . can not trust that feeling ? sure . double check . ask and ask other people about him . collect as much as possible information about your PM . verify -verify -verify with as much as possible people about him before sign. you will discover lots of things about his policy and promises . so not only reading contracts but act like an FBI behind all that . check and search . minimize risks.
    Kyle Wells Real Estate Broker from Lake Stevens, WA
    Replied 8 months ago
    My property management company charges 8% monthly management fee, 50% new lease fee for placing a new tenant, and $200 lease renewal fee. I pay for all maintenance and repairs and we utilize google sheets for income/expense breakdowns and they post everything to Buildium as well including invoices.
    Deb Newell Specialist from Eagan, MN
    Replied 8 months ago
    I actually thought the article covered a lot of the fees possibly charged by different companies. Not all companies are created equal, and doing your research like others noted is wise. I work with many across the country in helping them fix their business, improve their processes, people and technology. Whether they are large (7000+ doors), multi-family or small residential companies (200 doors on average), at least they are asking and seeking to be better. It's not about the size of the company, but about the culture and what they offer. You should want to pay for good service, we all want that in any industry. Property management is a hard job, but very rewarding, and those that are committed, do love what they do, and have the best intentions, but it's not for free, and no one should expect it to be. I'm always amazed when property owners try to negotiate the management fees, if they are too high, look elsewhere, you will always find someone who will do it for less, but you will also "get what you pay for". Your two biggest assets, investment property and children are the 2 assets people tend to try and find someone to "manage" for cheap. Find someone who is aligned with your goals, your PPD (profit per door) is what both you and the manager are striving for.
    Scott Myers Realtor from Yorktown, VA
    Replied 8 months ago
    Deb Newell, good wisdom, agree with your points
    Brent M. Investor from Hayward, California
    Replied 8 months ago
    Hmm, I’ve had 4 managers in 4 separate cities. I’ve had to “manage the manager” and have hard conversations at times, but never had to fire anyone. A good manager is key to your success, but if you’re constantly hiring bums, you might reconsider your interviewing and compensation offered.
    Raxit Patel
    Replied 8 months ago
    Any good recommendation for property manager down in Houston, Tx? Is 8% and 50% first month rent standard in Houston as well?
    Raul Flores Investor from Houston, Texas
    Replied 7 months ago
    Please let me know, probably I will need one soon
    Kevin McGuire Rental Property Investor from Seattle, WA
    Replied 8 months ago
    Helpful article especially since fee structures vary so much. Mainly the two models that I see are a low percentage of rent (say 6%) with lots of charges per event (either flat or percentage of work managed), or a higher “all in charge” (say 10%). It’s difficult for the new landlord to anticipate total management costs since it’s hard to anticipate the events. Personally I prefer the latter since I view the manager’s job as simplifying my life, so a simplified fee structure helps that.
    Steve Pike Real Estate Broker from San Diego, CA
    Replied 8 months ago
    10% is generally too high with multifamily / mid to large sized apartments complexes. It should be approximately 4-6% unless they it needs to be repositioned. 8-10% is generally the going rate for single family properties. 10% - 25% for vacation rentals.
    Chris Thomas from El Paso, Texas
    Replied 8 months ago
    Like many other things, it also depends on competition. If there are not many property managers in the area, you will pay more. I have a house in a small resort town. 1 property management company, and I pay 15%. No add-on fees, and good service so far, but a big cut.
    Hyacinth Dolor Investor from Bridgeport, Connecticut
    Replied 8 months ago
    I’d advise new owners to do the first themselves so they’re familiar with the needs of a property. Later when they increase their portfolio by then they should know exactly where to hire the PM. I’ve heard so many horror stories about PM I avoid them and do my own. I have a few friends begging me to do their properties but boy I always tell them I’m too busy. I’m very thorough with screening and keep the units better than mine at times. Lol. My tenants stay average of 5 years and up to 15 years for a couple.
    Mario Mejia Investor from asburn, Virginia
    Replied 8 months ago
    Great read. Consequently, I just spoke to ta property management company today. I am looking to buy out of state and this was my first one I’ve ever spoken to. This information was very insightful.
    Adam Deichert Rental Property Investor from Bismarck/Mandan, ND
    Replied 7 months ago
    My cousin charges me $75/month for Rental Income of $2550/month...no “a la carte” charges for Background, Rent Collection, Writing Leases, Advertisement, etc. Guess I’m quite privileged 😁👍🏻
    Norbert Huston Property Manager from Stockton, CA
    Replied 7 months ago
    With 30 plus years in the business of rental property management, I've talked with countless owners who just care only about the fees. I've found that my successful relationships with my clients has been our accessability and being able to answer their questions. Even with new potential clients reviewing a very detailed website, they are always going to ask questions and they want that conversation with the brokerage's owner. I may spend 45-90 minutes on the phone, or with the emails back and forth....but once they are comfortable and know that you are experienced and know what you are doing....they become life-long clients (until they sell the property). I strongly urge that management companies use a cloud based accounting system with owner & tenant portals for financial records, rent payments, maintenance orders...etc...I launched our service in 2015 and I could not do what I do now if I didn't have the service. Yes, there was a learning curve with myself--clients--and tenants but the cost savings alone in time & postage pays for the software costs. Thanks for letting me share.
    Josh Gold
    Replied 7 months ago
    Do property management companies offer a service just for when tenants leave: 1. Prep the house to be ready for the next tenants 2. Advertising, Open house 3. Take applications based on your criteria and within the law 4. Screening, calling prior landlords, verifying employment/income 5. Lease signing I find myself wanting a property manager for the above, which only happens once a year or less (when tenants move out). The rest of the year I have been doing fine on my own (so far, so good at least after four years).
    Jiri Vetyska Investor from Normandy Park, Washington
    Replied 7 months ago
    Josh, Check out https://www.onerent.co/pricing/ - they provide tenant placement only as an option.
    Jiri Vetyska Investor from Normandy Park, Washington
    Replied 7 months ago
    Larry, would you mind sharing what the 8-10% fee actually is for? In your article, you make it crystal clear that the PM will charge your for pretty much everything, so I don't see the point in keeping any. In my experience: - Leasing the property is super quick and easy, and costs $0. PM will take up to a month's rent in addition to their monthly check. And I'd have no idea if the tenant is any good. - Maintenance - Why pay additional fees to PM when I can just call the contractor and get the job done in maybe 1 or 2 minutes of my time (and also maybe once in several years)? - Vacancy - Never had one, but sounds like it's very common for PM companies. Why pay extra to earn less? - Eviction - Again, never had one in decades in business, but why pay the PM several hundred dollars, when I can just pay a lawyer the same money for a guaranteed service? Don't get me wrong, PMs are great at managing large complexes where they only charge 2-3%, but there is absolutely no benefit to hiring these super expensive companies that essentially consider the 8-10% as pure profit for nothing, as they nickel and dime you for everything they actually do.
    Robert Gilstrap Residential Real Estate Broker from Kennesaw, Georgia
    Replied 7 months ago
    Your lack of knowledge about property management is astounding. Leasing a property costs $0 huh? Maintenance takes 1 or 2 minutes of my time? Vacancies don't happen? Evictions don't happen?
    Scott Radetich Investor from Portland, OR
    Replied 7 months ago
    Robert, Do you have rentals? Leasing: Sign in yard and Craigslist = $0, Zillow is $10 a week if you have more than one on there. Maintenance: Get text from tenant about leak in garage, I call the plumber tell em i have a leak and give them tenants name and number they take it from there, 1 to 2 minutes. Vacancies: On the west coast, they are pretty minimal. Evictions: With good screening, they rarely happen. (I've also never had one) With units that are in good condition and well updated, maintenance calls are minimal, turn times are minimal, I just don't get how PM's can charge a full months rent to place a tenant, and with a monthly rate of 8% to10% you lose another full month's rent. Now if those fee's paid for some of the basic maintenance? maybe it would make more sense. Right now, until all my properties are paid off and i'm traveling the world full time, it just doesn't make sense for me to pay someone to handle a maintenance call every few months and fill a vacancy once or twice a year.
    Reinaldo Lopez Rental Property Investor
    Replied 7 months ago
    Good article, I like to know if some one can share an actual example of a contract and fees.
    Bob Barrie from Saratoga, California
    Replied 7 months ago
    I have PM in 5 states. I have had to fire 6 over the years. Biggest problem has usually been not being able to lease my property. Some of the causes for that is they moved their office 15 miles farther away, loss their assistant and were only showing my property on Tuesdays. It happens. The best way I have found to hire a new PM is to ask for their contract. Once you have the contracts from 4 or 5 PMs it is a real eye opener to see the true differences. I have seen contracts up to 28 pages long, with hidden fees all the way. Most of my PMs charge 8% and 50% of a months rent for leasing. Late fees are split 50/50. most don't charge an added fee for repairs over what the repair cost. My biggest lessen learned is don't be afraid to fire a PM that is not preforming or not sending your money on time.
    Brian Findley Rental Property Investor
    Replied 7 months ago
    Good general info article, thanks. I see that some PMs have a surcharge on maintenance work (e.g. 10%), in addition to their monthly PM fee. Thoughts on this? If they are charging an extra fee for their time to handle maintenance items, then what is the monthly PM fee actually for?
    Vikram Singh Investor from Sacramento, CA
    Replied 7 months ago
    Exactly!
    Krzysztof Lisaj Investor
    Replied 7 months ago
    My brother and I started a PM company in the SF Bay Area after managing our own rentals for a few years. We charge 6% per month ($150 min), half of first months rent for new leases, and $250 lease up fee. We provide monthly statements using Builidium, inspect the property 2x a year (with a detailed report each time), and do not charge for coordinating repairs or maintenance. One of our keys to success so far has been working with owners who understand that you need to a home that is well maintained. Prior to renting and agreement to manage, we always perform a walk through of the property in question and have the owner address all the typical maintenance items that always seem to come up (i.e. snaking sink, drains, loose towel racks, etc.) While you can't find all the problems getting the comments ones fixed helps. This walk through gives us a good indication on the owners willingness to have this repairs and expectations of managing the property. Having an owner who is proactive in authorizing repairs is crucial. On the other side we always have to "train" our tenants. Prior to signing a lease we go over in detail our "New Tenant Orientation" and all the items in the lease, when to call for maintenance, what is the owners responsibility versus a tenants, and other rules. I'm glad to say that so far we have had no major issues. Just my 2 cents.
    Christopher Stacy Rental Property Investor from Wiesbaden Germany
    Replied 7 months ago
    Great feedback from all. My PM charges 10% monthly plus a $35 admin fee. Additionally, she keeps the first month's rent for new tenant placement and 1/2 month's rent for renewals. No other fees aside from that. It seems a bit steep, but I have had almost zero vacancy in the 10 years that she has managed my portfolio, never had an eviction and never had a property destroyed, knocking on wood... I suppose it evens out over time, but I am starting to wonder if that is the norm and I am paying too much. Thoughts? I am in the Augusta, GA market.
    Dmitry Semenov from Redmond, Washington
    Replied 7 months ago
    I would also add - make sure that all fees both from the owner and the tenant are spelled in management agreement. Don't let open ended lists or unbounded fees. For example, from one of the management agreement: "Manager may charge and collect fees to Tenant(s) in addition to the base rent in the lease agreement." What fees? How much? With this line manager can charge whatever they want from tenant, cause vacancy and you will be paying for it.
    Dhruv Patel
    Replied about 2 months ago
    Who pays the repair cost property management company or the landlord?