Fees for PM?

[Daniel Gura]

Hello everybody,

when I buy a property and its tenant occupied, the pm is charging me the first month half of the rent since its already occupied. I wanted to know how much are you paying and also if its normal fee.

thank you

[Mike McKinzie]

Find a new property manager immediately. While there can be a start up fee for a new property, it should be no more than $100. They do need to inform the tenants where to pay, who to call for repairs and what the new PM expects in the way of contractual obligations. But to charge half the months rent just to start management is a RIP OFF.