Usual management fee is about 6% to 10% of rent collected,
if average rent is $1200, monthly management fee is about $120.
So what does $120 a month pay for?
Each management contract is different, basic services include:
1, Recording – accounting (rent & expense processing, financial statements, bank reconciliation) move-in/out reports, periodical visits or drive-by visual evaluation
2, Monitor: Legal Compliance, Lease enforcement
3, Coordinate: maintenance, insurance, and government agencies
4, Training: Manager and Tenants.
so, for $120 a month, $28 per hours for wage & benefits, this amounts to about just under 1 hour of service per week. How much does your time worth to you ?
usually if management company is consistent with policies, everything seems easy and calm.
when property is vacant, there is more work to up-keep.
Additional service and fees are:
1, Leasing commission & advertisement.
2, Maintenance cost
3, Bank charges
4, Legal cost
4, other administration fees
There is not much difference except the level of Care by individuals who is responsible for your property.
Real Property Management – Fairmate, have consistence policies: customer comes first, we have fun with our work, we give a dam.
Give us a call, let us show you how we can help you get the most our of your investment. 855-338-6688