Updated almost 5 years ago on . Most recent reply
Property Management Cost
Is getting a property management a good idea? About how much do they charge? Monthly or annually?
Most Popular Reply
Boy @Kyle Barnhart, that's a loaded question. Hiring a good PM company can be a good idea. Hiring a bad one is always a bad idea.
Whether hiring a quality PM company is good for you largely comes down to who you are and what you want to be true of your investments. If you want to have a more hands-off approach, if you do not have time for self management, or if it for some other reason fits your needs better then it can be a boon. If you want to have a lot of direct control over your investments and want to be in the know about the day to day operations then self-management can be a better fit.
Painting with a broad brush here, you can expect PM services to range between 6-12% of the monthly rent amount, varying widely based on a number of factors.