Quote from @Puneet Sharma:
Is it normal for Property Management companies to ask for 50% of first month's rent for a new lease and 25% for every lease renewal. There's no cap to this amount. I have seen this is in two different markets though not every PM asks for it. I was just wondering if this is normal and acceptable.
I'm a practicing agent in the EPTX market. When I managed homes I offered a flat $600 'leasing fee' and a flat $75 lease renewal fee. However, I've seen 75%-150% of one months rent as a "lease fee" and up to 37.5% of lease on renewals from other local property managers.
I no longer manage homes, but can help you procure a Tenant with MLS Listing/Marketing/Showings/Lease Execution and suggest some tools to help manage it on your own. If you prefer a PM, I can give you a few recommendations as well.
