Property Management Fees

[Kevin Boylan]

Do most property managers charge a percentage of total gross potential rent, or total collected rent?

[Joshua Dorkin]

In my experience, they collect from Gross Collected rent, although I've heard of them charging flat fees, and other concoctions. Many will add all sorts of junk fees to your costs.

I highly recommend interviewing many different companies when looking at a management firm. You'll get a good idea what standard practice is in the area by doing so.

This worksheet should prove to be handy for conducting your interviews:
http://www.biggerpockets.com/forms/Property-Manager-Worksheet.pdf