Fees
Management fee
A management fee is the monthly charge a property manager takes, usually a percentage of the rent collected, for running a rental home day to day.
A management fee pays for the daily work of running your rental. That work includes collecting rent, coordinating repairs, keeping books and answering tenant calls. Most managers charge a percentage of the monthly rent they collect, so the fee rises and falls with the rent.
Real Property Management Gold offers three plans: Silver at 8.9%, Gold at 10.9% and Platinum at 12.9% of monthly rent. Gold and Platinum include the 29-day promise: "If we don't rent your property in 29 days or less, you do not pay a management fee for the first month." The leasing fee for finding a tenant is a separate, one-time charge.
When you compare managers, ask what the percentage covers and what costs extra. A low monthly fee can hide add-on charges. See the full fee list before you decide.
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