Updated over 5 years ago on . Most recent reply
Property manager fees for tenant placement
Newer out of state investor here: After interviewing a property manager for an area I want to invest, they charge 1/2 of the first months rent for tenant placement. Additionally, they charge the tenant for the application fee $99 and they charge 10% of rent for management. Are these numbers consistant with what other investors pay? Most of the numbers make sense but the 1/2 of first month caught me off guard...
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@Valentine Antony yeah that is fairly standard for a lot of areas of the country, it may also depend on the average rent for a unit in the area, for example half of $3k makes not much sense for the owner but half of $800 can be very reasonable.