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Updated almost 2 years ago on . Most recent reply

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13
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Jacob Laginess
  • Toledo, OH
8
Votes |
13
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Is this normal from a property manager?

Jacob Laginess
  • Toledo, OH
Posted

I have a property that needs some roof work completed. My PM contacted me about it, and said that, with their "25% management fee", the repair cost would be $X,XXX. Is that normal to charge an additional fee on top of my normal, monthly 10% of rent collected? It's not disclosed in the management agreement (nor are the other fees they tack on just for responding to a resident's request...), and I tried fighting them on it but they wont budge. I have another PM in a different stated that has helped me immensely with another property and hasn't charged anything above the monthly amount, so I'm just not sure if I'm extremely lucky in one case and normal in the other, or vice versa.   

Most Popular Reply

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28,057
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41,062
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,062
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28,057
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Jacob Laginess:

I think it would be worth contacting the Ohio real estate commission. The law typically requires the property manager to disclose all fees, and attempting to charge fees outside of that disclosure vould be a violation of the law and ethics. 

  • Nathan Gesner
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