Today we are talking about pricing. A common question is: how much does property management cost? The answer is: it varies. Whether you hire Real Property Management Southwest Michigan or another property management company, it’s very easy for the property manager to earn their fees. This is a low market business, so a good property manager can cover their fee and at the same time, make you some money.
Most property managers charge a percentage of gross rents. That might be anywhere between eight percent and 12 percent of your property’s monthly rent. It depends on whether the property manager is doing short term leasing or long term leasing and whether there are other factors involved. It really depends on your property and what you’re looking for.
There is also a leasing fee, which many property managers charge. This covers the costs of finding you a tenant and getting a lease signed. This might equal half a month’s rent or a full month’s rent. Usually, this also depends on the monthly management fee. If a company charges 12 percent for the monthly fee, their leasing fee might be a bit lower.
One thing to keep in mind when you’re comparing property management companies is that at the end of the day, people are pretty close when it comes to what they charge. You might pay a little more for one thing and a little less for another thing. If you have a property manager who offers to do business for six or seven percent every month,
We charge based on your property, so contact us at Real Property Management Southwest Michigan, and tell us about your rental home. We’d be happy to tell you more about our services and rates.