Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Managing Your Property
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago,

User Stats

3
Posts
3
Votes
Robert Ashton
3
Votes |
3
Posts

Is this typical in property management contracts for retail investors?

Robert Ashton
Posted

Is this typical in property management contracts for retail investors?

General Contract Language

- Broad language allowing PM to receive and collect fees from tenants so long as it doesn't explicitly conflict with said agreement (meaning any additional fees can be added even if not in contract)?

- Broad language excusing PM from any responsibility (including that of anyone they subcontract out to)

- Charging the owner additional "convenience fees" if they "fail" to perform according to an agreement (with broad language about what that means)

- Making the owner pay for any mediation / attorney fees for both parties (with no cap specified)

Specific fee structure: 

- Management Fee: 10% scheduled rents (up to 3 units); 8% up to 15; 6% up to 35

- New tenants placement (not renewals): 50% first month rent

- 10% mark-up on all service fees (no receipts required)

- 15% mark-up on total cost for any capital expenditures

- Flat turnover fee

- Flat evictions fee

Loading replies...