Cost of Property Management in Charlotte
Hello Biggerpockets -
I could use some advice. I live in San Diego, invest in Charlotte real estate, and use a property manager. My property manager is also my real estate agent, and I've always thought her management fees are on the high-end. She charges 100% of first month's rent as a leasing fee in addition to 10% of monthly rent afterward. So, in a year where we sign a lease with a new tenant, I am effectively giving up two months out of twelve months of gross rents to my property manager.
As a property manager and agent, she is fine (not incredible, but not bad), although her rates seem very high and I am considering using a different manager and agent, or at least negotiating aggressively to lower the fees. Before I do that, I wanted to confirm with the Biggerpockets community that these fees are very high for the Charlotte area?
Thanks in advance,
- Ben