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Updated almost 3 years ago,
Maintenance Fee From Property Manager
Hi all, I have a third question now. I pay my property manager 10% of the tenant rent each month. So for instance, if rent is 900 then the property manager gets 90. I've noticed recently that the property manager is now charging a maintenance fee for the following in her words
"running around buying products for the homes for repairs, getting quotes for work, being there to let contractors in, invoicing for the repairs, sending checks etc. there would be 10% charge on all repairs."
I need to know if this is normal to pay on top of the 10% monthly fee or should these tasks be included in the property management fee. I'm also paying 500 dollars when a new tenant is placed in one of my properties. These fees are adding up.
Thanks for any input!
LB