Property Management Companies
- Thread starter DrPanda
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- Aug 30, 2007
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QUOTE (DrPanda @ Jul 30 2010, 06:56 AM) Good Day,
Can someone give me a ball park cost for a property management company?
Assume property management company is in the same city as the investment(Brantford).
Property 1 - 5 bedroom, student rental
Property 2 - Triplex
10-15% of rent collected .. reasonable being 12% plus a lease fee of $100 or $200 per suite rented .. plus perhaps a minimum if student rental in summer is slow .. i.e. you may have to pay a flat fee even if only 2 of 5 rooms are rented !
Can someone give me a ball park cost for a property management company?
Assume property management company is in the same city as the investment(Brantford).
Property 1 - 5 bedroom, student rental
Property 2 - Triplex
10-15% of rent collected .. reasonable being 12% plus a lease fee of $100 or $200 per suite rented .. plus perhaps a minimum if student rental in summer is slow .. i.e. you may have to pay a flat fee even if only 2 of 5 rooms are rented !
- Joined
- Oct 10, 2007
- Messages
- 4,730
In Brantford
8-10% should be doable for small student property
Triplex around same or much less doable depending on who you use
8-10% should be doable for small student property
Triplex around same or much less doable depending on who you use
A manager I use charges a 7-8% fee plus HST. That includes his time spent on your property, rent collection, a monthly report, N4 to past due tenants. He uses contractors for clean-up, lawn care, repairs, snow removal, so those services are obviously not covered by his fee.
Send me an e-mail at [email protected] if you want his contact information.
Oleg
Send me an e-mail at [email protected] if you want his contact information.
Oleg