Property Management Lease Fees
Just curious what others are paying to put a renter in their rental properties?
I have noticed quite a few seem to be paying one months rent is that average?
I manage all my properties in San Diego but the one out of state property is managed by PM company and there is a $500 fee to get a new tenant. House is listed on MLS and craigslist and whoever brings the tenant gets the fee, so not necessarily the PM company.
If your property is managed by a PM company, how much do you pay?
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On multifamily with a pretty good number of units, I pay 35%. I think this is better than most. I don't begrudge the lease up fee as it does take some work on the PMs part.
I also have a clause where if the tenant leaves or an eviction is commenced within 9 months of PM original lease up, no charge for the new lease up. I like to think this motivates the PM to get a good tenant rather than fill the unit with questionable tenants.