Good property management costs
- Thread starter Kennyk171
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I assume you are referring to a single family house/condo/town house (and not multi-family or commercial)
The answer is: it depends. Some firms charge a % of rent, say 10%, some charge a % of rent plus a lease up fee, and some charge a monthly minimum, plus a (lower) % and/or a lease-up fee.
A lease up fee is usually around one month.
The answer is: it depends. Some firms charge a % of rent, say 10%, some charge a % of rent plus a lease up fee, and some charge a monthly minimum, plus a (lower) % and/or a lease-up fee.
A lease up fee is usually around one month.
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Thomas answers of "it depends" is the correct answer
Rental fee is often between half to one month rent or more depending on the particular market / property
Many firms have minimum fees that apply (so $100 per month or 8% of gross, which ever is greater, etc. is often found on contracts)
Rental fee is often between half to one month rent or more depending on the particular market / property
Many firms have minimum fees that apply (so $100 per month or 8% of gross, which ever is greater, etc. is often found on contracts)
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Hello, can anyone tell me if its normal for a property manager to charge a monthly fee if the property sits vacant?
Why not? Does Roger,Bell, and Car Insurance companies stop charging if you don't watch TV or use the phone or drive your car for a month. You have contracted a service, if you think the service sucks, change it.
Why not? Does Roger,Bell, and Car Insurance companies stop charging if you don't watch TV or use the phone or drive your car for a month. You have contracted a service, if you think the service sucks, change it.
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[quote user=housingrental]Thomas answers of "it depends" is the correct answer
Rental fee is often between half to one month rent or more depending on the particular market / property
Many firms have minimum fees that apply (so $100 per month or 8% of gross, which ever is greater, etc. is often found on contracts)
Related post: http://myreinspace.com/forums/p/25773/127709.aspx?#127709
Rental fee is often between half to one month rent or more depending on the particular market / property
Many firms have minimum fees that apply (so $100 per month or 8% of gross, which ever is greater, etc. is often found on contracts)
Related post: http://myreinspace.com/forums/p/25773/127709.aspx?#127709
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We used to NOT charge for vacant property, As our thinking was if the property is vacant, then either the landlord or PM makes money.
However, the cost of vacant property is not just rent. Utilities, snow removal, grass cutting, security checks, rental showings, contractors doing work, general liabilitiy, etc. From the PM's view, it cheaper to keep the property rented.
However, the cost of vacant property is not just rent. Utilities, snow removal, grass cutting, security checks, rental showings, contractors doing work, general liabilitiy, etc. From the PM's view, it cheaper to keep the property rented.