If you can fit the fees of a property management company into your operating budget, then it is a great investment. Property managers are great if you have more than one property, live further (or even out of state) from your rental properties, or are looking for someone to take care of the regular operating tasks of managing a property, such as marketing your vacancies, screening tenants, maintaining the properties, and calling in for any emergency repairs from reputable contractors.

Property managers handle leasing, rent collection, maintenance, inspections, tenant communication, and other day-to-day responsibilities involved in renting and maintaining a real estate investment property, to ensure it’s profitable and taken care of for the long term.

Property management fees are 8-12% of the monthly rent, on average, depending on the property size, type, and location. However, fixed or flat rate fees may apply starting at $100-$150 per month for a single-family home. And, commercial properties have lower rates (usually 4-7%) for commercial properties with more than ten rental units.

Yes, an expert property manager is worth it. Whether you’re newer to being a landlord or looking for the best way to leverage your time (if you have more than one property), having a professional property manager take care of all the remedial tasks for you allows you to free up more time, and reduce stress, so you can focus on higher leverage tasks or to spend more time doing what you love.

Yes, licensed property managers also provide added protection by reducing your legal liability. Being familiar and well-versed in the often complicated rules of rental properties, property managers also help with the understanding of discrimination, disabilities, and other tenant laws that affect leasing practices including late rent, and evictions.

No, depending on the state the property manager is operating in, a license to operate may not be required. The only states that don’t require a license to operate are Vermont, Idaho, and Maryland. Licenses and certifications may be available to be viewed in your Property Management Finder results.

No, repair costs are not included in property management fees. However, expert property management companies have an established network of reputable contractors, and vendors to handle almost all repairs. Some larger property management companies even employ their own in-house maintenance staff. Which can, and will, result in lower repair costs to you.

Knowing the right questions to ask a property manager isn’t always easy. But, here are some recommendations when interviewing a property manager to get you started:

• How many years have you been a property manager?
• Are you licensed or certified?
• What are the monthly fees and what services do they include?
• Are there any extra services that aren’t included in the fee and how much do they cost?
• How often will you be visiting, and/or inspecting the property(ies)?
• Do you also visit and inspect the property if it’s vacant? Will there be additional costs associated with that?
• Do you handle all maintenance and repairs?
• If not, do you have a network of trusted contractors, and repairmen in case there’s an emergency?
• What is your process for screening new tenants?
• How do you handle late rent payments or tenant disputes?
• Have you ever had to evict a tenant?
• Can you provide references from current clients?

Yes, BiggerPockets Property Management Finder provides a shortlist of the best matches for your needs, allowing you to choose those that align most closely with your vision and goals.

Yes, our network spans nationwide, allowing us to match you with exceptional property managers across the country.