What do Property Management Companies Typically Charge?
RemedyRent.com is a property management company designed and managed by investors, that offers professional property management services to property owners and investors. One of the most frequently asked questions by property owners is how much does it cost to hire a property manager? The cost of hiring a property manager varies depending on the services offered, location, and size of the property. However, RemedyRent.com offers a competitive and transparent flat fee structure to its clients with a discount for each additional Property.
The standard property management fee charged by traditional companies is typically a percentage of the monthly rent collected from tenants. The percentage charged varies depending on the services required and the location of the property. Typically, the property management fee ranges from 8% to 12% of the monthly rent. This fee covers all the property management services offered by the company, including rent collection, tenant screening, maintenance and repairs, lease enforcement, financial reporting, evictions, HOA compliance, asset tracking, tangible asset useful life reporting, inspections, tenant communication, and tenant training.
The issue with this pricing strategy is is that it was created by real estate brokers who are accustom to charging a percentage commission pricing strategy on their services. When it comes to property management a percentage commission based pricing scheme causes investors who own higher class properties or properties in markets with higher rents to pay more to a property management company for the same amount of work.
RemedyRent.com does not charge based on rental income, does not upcharge on work performed or maintenance, nor does RemedyRent.com have any hidden fees, and its property management fees are transparent and easy to understand. The company offers competitive flat rates to ensure that property owners receive maximum value for their money.
In addition to the standard property management fee, others may charge additional fees for services such as leasing renewals, cancelations, and vacancy advertising. RemedyRent only charges for a showing agent at a discount of what you would typically pay, and photography. These fees are typically a one-time charge and are only applicable when the service is required.
It is important to note that while the property management fee may seem like an additional expense, it can actually save property owners money in the long run. By hiring a professional property manager, property owners can avoid costly mistakes such as poor tenant selection, non-compliance with regulations, and delayed maintenance and repairs. A property manager can also help to maximize rental income by setting the optimal rent rate and minimizing vacancies.
In conclusion, the property management fee charged varies depending on the services required and the location of the property. The standard property management fee ranges from 8% to 12% of the monthly rent however RemedyRent.com's fee is flat, simple, and covers all the property management services offered by other companies. RemedyRent.com offers transparent and competitive fees to ensure that property owners receive maximum value for their money. By hiring a professional property manager, property owners can avoid costly mistakes and maximize their rental income.
The standard property management fee charged by traditional companies is typically a percentage of the monthly rent collected from tenants. The percentage charged varies depending on the services required and the location of the property. Typically, the property management fee ranges from 8% to 12% of the monthly rent. This fee covers all the property management services offered by the company, including rent collection, tenant screening, maintenance and repairs, lease enforcement, financial reporting, evictions, HOA compliance, asset tracking, tangible asset useful life reporting, inspections, tenant communication, and tenant training.
The issue with this pricing strategy is is that it was created by real estate brokers who are accustom to charging a percentage commission pricing strategy on their services. When it comes to property management a percentage commission based pricing scheme causes investors who own higher class properties or properties in markets with higher rents to pay more to a property management company for the same amount of work.
RemedyRent.com does not charge based on rental income, does not upcharge on work performed or maintenance, nor does RemedyRent.com have any hidden fees, and its property management fees are transparent and easy to understand. The company offers competitive flat rates to ensure that property owners receive maximum value for their money.
In addition to the standard property management fee, others may charge additional fees for services such as leasing renewals, cancelations, and vacancy advertising. RemedyRent only charges for a showing agent at a discount of what you would typically pay, and photography. These fees are typically a one-time charge and are only applicable when the service is required.
It is important to note that while the property management fee may seem like an additional expense, it can actually save property owners money in the long run. By hiring a professional property manager, property owners can avoid costly mistakes such as poor tenant selection, non-compliance with regulations, and delayed maintenance and repairs. A property manager can also help to maximize rental income by setting the optimal rent rate and minimizing vacancies.
In conclusion, the property management fee charged varies depending on the services required and the location of the property. The standard property management fee ranges from 8% to 12% of the monthly rent however RemedyRent.com's fee is flat, simple, and covers all the property management services offered by other companies. RemedyRent.com offers transparent and competitive fees to ensure that property owners receive maximum value for their money. By hiring a professional property manager, property owners can avoid costly mistakes and maximize their rental income.