Property Management Fees

[Adam Sieg]

Currently looking to hire a property management company but want to make sure that I'm not paying too much.  I've looked at 2 thusfar with both charging a monthly fee (when there are tenants) but they also charge a "leasing fee" which is equivalent to the estimated rent.  I've seen loose quotes on the internet that you can expect to pay 8-12% for these services.  Based on a monthly rental income of $2000, this would give a leasing fee of $2000 + 125/month = which comes out to nearly 15% of the total rent which to me seems high.  Wanted to see if the group had any thoughts or if I should dig deeper into their coverage to see if it is warranted and if there is significant benefit to these companies.