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General Real Estate Investing

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Donald S.
  • Accountant
  • Saint Louis, MO
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Property managers fee typical structure

Donald S.
  • Accountant
  • Saint Louis, MO
Posted Dec 5 2017, 10:13

I'm looking into pm companies in StL and wanted to see what the general thoughts were on pricing i should look out for. 

What's typical and what's overpriced? I see all the time people say budget 10% for PM, but that looks like just the flat fee. I'm also seeing $xx for service call,  $xxx for after hours service call,  $xx per hour of labor, which I all assume comes out of the repairs budget in my calculations. But what is normal for those amounts to be? How often should I expect them to get calls? 

Finally what's the average charge for placing a new tenant/turnover? I've seen as much as the whole first months rent. But if I do that then my vacancy reserve needs to be how many months I expect it to be vacant plus 1 for placement.  

It seems like all the nickel and dime really makes positive cash flow much more difficult. 

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