Updated almost 3 years ago on . Most recent reply
Topic of Interest: Wide discrepancy between PM company fees
We have a small portfolio of rental properties. All are SFH. The locations are spread out in the states of: Florida, Oregon, Nevada. We employ property management companies for all of them. We have noticed a WIDE discrepancy between property management fees in these three states. Florida (close to Sarasota) is the highest. See below for a summary:
Florida: On-Going Monthly = 10% of Each Month. New Lease = 50% of 1st Month. Lease Renewal = 25% of 1st Month.
Oregon: On-Going Monthly = 7% of Each Month (no other fees)
Nevada: On-Going Monthly 8-10% of Each Month (no other fees)
Market dynamics allow each PM company to charge whatever the market would bare. No complaints about that. If we do not like the service or prices, we are free to move on. We get that. Anyone else out there with similar situations and such large discrepancies from property to property?