Property Management Expenses

[Chauncy Gray]

Hello,

I want to address the following questions to investors who have hired property managers in the past. 

1. I have heard that property managers charge fees for handling a property that goes vacant. May I ask as to what this fee covers? Right now, I am having trouble understanding the purpose of the additional fee since the property manager has already been hired for managing the property. 

2. I also learned that some charge fees for renewing leases (up to 50% of one month's rent), and that some do this up to twice per year on a property? How is that so, and what would be the reason for these charges? 

3. What are some other expenses that new investors should be aware of when hiring a property manger? 

4. What is the property manager's business/income model?

V/R,

Chauncy