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Updated almost 6 years ago,
Property Management Fee Negotiation as Portfolio Increases
I have been using the same property management company now for about 4 years and have an 8% management fee on rents and there is also a lease renewal fee of 50% of one months rent. The lease renewal fee after researching some seems excessive. I am close to 30 units that consist of SFHs and small 2-4 unit MFHs. I wanted to get some advice on the rate and this renewal fee based on an increasing portfolio size. I have no complaints other than wanting to pay fair rates based on the portfolio size. Any input is appreciated.