Additional Property Managment Costs?

[Ryan Planchon]

Where do you factor in additional costs for property management?  Such as for a new lease or renewal?  I saw that some property management companies charge 1 months rent or 1/2 months rent for those services?  Is that accurate?  Most of the educational materials I have seen on running the numbers just talk about a percentage per month for property to do a deal analysis.

I know that could be the case if you are just looking for tenant placement and you are going to self manage thereafter.  But are those fees still accruing as they are taking a monthly percentage?

If that is the case and when doing a deal analysis, if they take a fee of 8% should you put a higher percentage to be able to cover additional fee cost?  Or is your cash flow eaten up the first month for a new lease and then again for lease renewal?

I am new and haven't ever dealt with a property management company yet.