Property Management Fees Southern Maine

3 Replies

Hi:

I am starting a new property management business in Southern Maine and I was wondering the going rate to manage properties.  I am focusing my efforts on single-family homes.  

1) How much do you charge for placing a tenant?

2) What percentage or amount do you charge each month? 

Also, if you have a property management agreement form you'd share with me, that would be excellent.  


Thanks,
Alex Kappelman

Hi @Alexander Kappelman , I haven't had any SFH under management, but with the multi-family properties, the typical fees I've experienced are 7%-10% (depending on the property size) of gross monthly rents and 1/2 of first month's rent for tenant placement upon signing a new lease, the fee doesn't apply on lease renewals. Hope this helps!

- Ivan

Ivan:  this is very helpful.  Thank you very much.  -Alex 

@Alexander Kappelman The rates can vary and placement fees can be up to one month's rent with a lower ongoing monthly fee, or a higher monthly fee with a lower placement fee. It really all depends on whether or not you willing to bank on placement fees or want a stronger recurring revenue stream to fund your business. @Ivan Sokolovich example is pretty fair for the market and can vary depending on town or company. My company owns Maine Properties and we have a variety of pricing structures in place. 

Harrison Smith, Real Estate Agent in ME (#SA920283)
(207) 956-0872

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