Property Management Expenses

[Jenni Moore]

How much do you typically budget for full-service property management of small (10-12 unit) multi-family properties? This may vary by location but I am interested in understanding the range. Thanks!

[Andrew Kerr]

@Jenni Moore Figure 7-10%. When they quote you a percentage, make sure to ask what other fees they charge. They might charge a setup fee, yearly admin fee, see if they include a lease up fee, or a lease renewal fee. These extra fees are what can kill the cash flow.