How much do you pay your property manager?

[Account Closed]

I'm just curious as to some average costs of property managers (around the Augusta GA area). I have been looking online and it seems most places charge you 10 percent/month, including a month's rent whenever they find you a tenant. Is this legitimate? Unless my guesstimate is wrong, that's almost 20 percent of your income/year you are paying in order to have a property manager! 
Is it worth it? Or am I looking in the wrong places?

[Amber Gonion]

You get what you pay for. 10% without any other fees for new tenants doesn't leave much for advertising, background checks, multiple showings, contract signing, time for turns, multiple move out inspections, and new renter/ key transfer/unit education. I know everyone thinks that property managers make a killing on new tenants, we charge 1/2 months rent and believe me I would rather keep the place rented than collect the 1/2 months rent.

You might say well why is the X% there? We put together monthly reports with photos, collect rents, issue notices, make sure fair housing laws are being adhered to, keep owners from being sued, 24/7 emergency access, hire and supervise contractors, supervise caretakers, supervise maintenance personal, ensure evictions can legally occur, respond to tenant complaints, organize and file receipts for expenses, respond to online reviews, and, ensure city compliance.

Cheaper rates may mean they are just collecting rent and nothing else unless someone calls, or a craigslist as for renters and a poor screening process. A bad pm will cost you much more money than a good one. A good one will save you more money than they cost.