Updated almost 8 years ago on . Most recent reply
Property Management Rates
I am currently negotiating with a property management company to take over 24 single family homes in Kankakee county IL. All properties have been rehabbed in the last couple of years and we are seeing about a 20-25% turnover each year.
Most of the rents ranges between 1100-1500 per month.
The companies I have spoke with so far want one months rent to lease a vacant property and 10% of the collected rents.
This seems too high to me and I just wanted to get the BP community’s opinion!
Most Popular Reply
Don't negotiate over pennies here. Focus on the quality of the management company. Management companies are NOT all built the same and if you find a good one, you will gladly pay 10% for management.
- Ian Walsh