I am wondering, what are other investors seeing property management charge for lease renewals and new-tenant placement? From the people I've spoken to (in Atlanta, GA) Tenant placement seems to be a charge equal to 1 month rent, where lease renewal is anywhere from 1 month rent to no renewal fee. Just trying to get an idea of what to expect when hiring a new manager.
8-10 percent monthly gross rent fee, 1-200 dollar renewal and one month rent for placement
Hi @Ari Newman -
You are correct that it is typically one month's rent, but you may be able to negotiate down to 50 percent or 75 percent of one month's rent if you have multiple rentals.
Hope that helps!
About half to 1 mo placement (4.15 - 8.3% of gross annual rent), 8-10% gross monthly rent for management, none to 1 month for renewal (0 -8.3% gross annual rent).
So anywhere from 26.6% to 12.15% of gross rent. Shop around but duediligence and consider building your own team if that meets your needs.
And as far as terms how long do you usually see? I was thinking no term just 2 months to cancel?