Property Manager Fees

[Michael Sepe]

Finally purchased our first rental property! 

Being a newbie, I just wanted to reach out to the BP community and ask if these fees are usual or customery?

100% of the first months rent.

10% of the montly rental.

3% of a yearly lease renewal.  ex. 1100/mo x 12 = 13,200 x 3% = $396. 

[Dave Spooner]

@Michael Sepe Industry standard is charging a flat fee (see below) or a percentage (8-10%). If you don't feel like paying 8-10% you can always try to manage the properties on your own