Property Management Fees

[Patrick Leitch]

Either as a property manager or someone who uses a company to manage your multi family properties, what fees do you charge or get charged? Any other ways to bring in revenue as the manager? For example, a % is first month lease, renewal fees, admin fees, onboarding fees, etc. I just got a job with a property management company and we handle 2200 units in Tennessee and I am looking to see where I can increase revenue on the properties we already have.

[John Casmon]

Really hate the fees on fees approach for PMs. A better way to bring in revenue is to focus on helping the owner bring in revenue. Do you get a portion of all revenue or just rental income? If just rental income, adjust that so your interest are aligned and you can focus on increasing the NOI.