SINGLE-FAMILY, UP TO 3 UNITS
Management Fees are:- 8% of Collected Monthly Rents,
or a minimum of $250.00, whichever is greater.
When property is vacant there is a $100.00 per month
management fee to manage during vacancy.
- 5% of a 12-Month Lease Term
This fee is only collected when a unit is vacant,
and agent has placed a new tenant.
(Placement fee of new tenant)
This pays for all advertising, materials to advertise, costs of
advertising, and any agent fees paid out by the brokerage.
MULTI-FAMILY, 3 UNITS OR MORE
Management Fees are:- 6.5% of Collected Monthly Rents,
or a minimum of $450.00, whichever is greater.
When property is vacant there is a $100.00 per month
management fee to manage during vacancy.
- 5% of a 12-Month Lease Term
SHORT-TERM RENTALS
- Management Fees are:
10% of Collected Monthly Rents - Leasing Fee:
5% of the Lease Term for each Placement
If unit leases for $2800 per month,
the leasing fee would be broken down as follows:
$2800 x 12 months = $33,600 x 5% Leasing Fee = $1680.00
COMMERCIAL
Management Fees are:- 8% of Collected Monthly Rents,
or a minimum of $450.00, whichever is greater.
$100.00 per Month when the property is vacant.
Leasing Fee is on a Sliding Scale:
- 6% of a 12-Month Term, First Year
- 5% of a 12-Month Term, Second Year
- 4% of a 12-Month Term, Third Year
- 3% of a 12-Month Term, Fourth Year
- 2% of a 12-Month Term, Fifth Year
- and 1% for every Year thereafter.
Lease Renewal Fee is also on a Sliding Scale:
- 6% of a 12-Month Term, First Year
- 5% of a 12-Month Term, Second Year
- 4% of a 12-Month Term, Third Year
- 3% of a 12-Month Term, Fourth Year
- 2% of a 12-Month Term, Fifth Year
- and 1% for every Year thereafter.
HOA MANAGEMENT
Fee is to be determined based upon the amount of work the HOA needs from the property management company.We have been in the industry for several years. If you are talking to people and they are offering very minimal fees, ask them:
What other fees do you charge? – such as:
- Do they own their own maintenance company (because this maintenance is marked up)?
- Do they charge a Lease Renewal Fee to the homeowner and/or tenants?
- Do they charge tenants and homeowners for yearly walk-throughs or periodic inspections?
- When you call do you get an answering service, or go direct to your property manager?