Leasing Fees & Existing Tenants

[Steve Grimm]

Hi all, I recently acquired my first rental, a mutifamily property that was fully occupied at the time of purchase. I've received my first monthly statement from my property management company and it appears I am being charged a leasing fee (1 months rent) for each unit. Is this standard practice if the units were already occupied?

I can understand some sort of onboarding fee but it was my understanding that much of the work that justifies the leasing fee revolved around locating a new tenant.

I'm still very much a noob so any input is much appreciated -- thanks everyone. 

[Dick Stevens]

I would dump that company immediately just for trying to charge that fee.  Then manage yourself and keep all YOUR money.