We believe in earning client’s business and trust. Our goal is to educate, update, and motivate our clients to ensure each and every one of their needs are met. We create experiences, not interactions, and we want our clients to feel comfortable when it comes to buying or selling a home. Typically, the leasing fee covers the costs of advertising the property, showing it to prospective tenants, screening applicants, preparing the lease, and performing the move-in inspection. This fee is generally equivalent to a month’s rent or some percentage of it (between 50-100%), although some firms may charge a flat fee instead. The vast majority of rental property managers charge a leasing fee (sometimes called a new tenant placement fee), which is the fee for leasing or re-leasing the property if it becomes vacant. On a national level, according to the National Apartment Association in 2019, average management fees were in the range of 7-9%, although local markets can vary. We typically charge a monthly base fee of 5% of the gross monthly income of the property, with a minimum charge of $200/month for individually managed condo units or single-family homes.
Most rental property management companies base their monthly fee off of a percentage of rent. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination.