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Updated over 5 years ago on . Most recent reply
Property Manager Cost
I am interested in a few deals in the ballpark of $200k for single family homes. Due to my career I am unable to see the home 6months of the year.
What is a reasonable percentage to be charged by a property management company. I’d prefer not to go through one but given my circumstances I feel my hand is forced...
Thanks
Chris
Most Popular Reply
Christopher,
Short answer... it depends. Most managers charge 7% - 10%, plus up to one months rent for placing tenants, plus add-ons for managing maintenance issues, inspections, rent court, and a few others I am sure I forgot.
I wrote an article for BP some years ago on the topic of selecting property managers that might be of help. Here is the link... https://www.biggerpockets.com/...
Only way to find out exactly what it is going to cost is to talk to prospective managers directly.
Best of Luck!
Pete
Short answer... it depends. Most managers charge 7% - 10%, plus up to one months rent for placing tenants, plus add-ons for managing maintenance issues, inspections, rent court, and a few others I am sure I forgot.
I wrote an article for BP some years ago on the topic of selecting property managers that might be of help. Here is the link... https://www.biggerpockets.com/...
Only way to find out exactly what it is going to cost is to talk to prospective managers directly.
Best of Luck!
Pete