What is the average cost of a property management company?

Typically, you can expect to pay around 8% – 12% of your total monthly rent for a management company. So, for example, if you earn $1,000 per month, your manager’s fee ranges from around $80 – $120.However, some companies collect this payment regardless of whether you have a tenant. So, you pay the cost out of your own pocket. But it’s possible to find others that just ask for a flat monthly rate.

Do property management companies pay for repairs?

Property managers seldom pay anything out-of-pocket. Instead, they use rent money from the property to pay for repairs, like fixing an appliance. As a result, you may receive a reduced and/or delayed rent check when property managers need to cover a bill.

Do property management companies determine lease and rental rates?

Property management companies can take on a variety of tasks for real estate owners. If you want, they can also choose the rental or lease rate for your property. They research similar local properties and use market analysis to determine the rate. In the end, they find a price low enough to attract tenants while still earning you a profit.

What Is A Property Management Company?