All Forum Posts by: John Sigs
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Post: What should I charge for Property Management?
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This is privately arranged property management. I am not a property management company. A friend has offered to pay me to manage a house he owns in the Greater Hartford area. I have not see the house yet. Here are the details thus far:
There are 4 bedrooms. He thinks they can rent each room out for $800 for a total of $3200/month
He has offered 10% for me to manage the renting of the rooms to the tenants and to take care of the lawn and snow.
This initially sounds low to me. From my research here on BP, the average is 10% plus one month's rent ($800) every time I would have to find a tenant (does this mean he would pay me $3200 to find the initial tenants?)
Also, most property managers dont actually do the lawn and snow, correct? They coordinate with subcontractors to take care of the lawn and snow, right?
Just trying to figure out what I should be negotiating for. Thanks in advance!
John