Property Management Proposal Jax, FL

[Titus Hill]

I am about to close on my 5th unit in Jacksonville, FL and I am looking to put property management in place. I just have too much going on with work and church to deal with tenants and toilets directly. One company gave me these terms:

Fees:

10% of rents

Maintenance at cost as needed. No mark ups. There is a team of maintenance professionals that work with the company (but not exclusively) and all fees are passed to me at cost.

1st Months Rent when a unit is filled.

Other info:

Main manager has 20+ years of experience. He was recommended by and works with my Realtor. My realtor and I have done multiple deals together and I am looking to do more. She is a Rockstar.

I am pretty comfortable with this arrangement, but I have always managed my own properties, so I want to get your thoughts on the arrangement and fees associated with it.

Thanks in advance for the insight BP Fam.

[Jeff Boyer]

Hi Titus,

Pricing in Jacksonville for percentage based property management companies is 7.5%-10% monthly and half to a full month's rent for tenant placement. There are also a couple brokerages like ours that offer flat rates. I would recommend finding out a couple things:

Do you need to pay the tenant placement fee again if the current tenant renews their lease?

What is their cancellation policy?

Am I able to sell my home myself or with another agent?

The biggest complaints we hear from people are that they are being nickel and dimed on repairs and other fees, it looks like they are charging cost which is great, and a lack of communication. If they are responsive and you feel you would have a good relationship with them then they may be a great option for you as they are not outside the norms for cost.

Jeff Boyer

AgentChase Real Estate