We are talking today about how much it costs for professional property management services. Every company will charge various fees for the services they provide.
How Much Does Property Management Cost?
At Crest, we charge a flat fee that’s between 8 percent and 10 percent. The amount you pay will depend on the location of your property and a number of other things. However, that fee covers everything we do for you as your professional managers to make your investment successful. Some of those things we do include:
- Rent collection
- Monthly property statements
- ACH deposits into your bank account
- 1099 forms
- Payment of rental taxes
These are just a few examples of the services you receive in exchange for your property management fee.
Leasing Costs in Tempe
The only additional fee you may have is when the property is vacant. When we are marketing your home and looking for tenants, 3 percent of the first year’s rent is a fair price to pay for marketing, paying brokers, and covering all the different things we have to do to get you a qualified tenant for your property.
Professional Management Helps Avoid Liability
The cost of property management is insignificant compared to the losses you may suffer as an owner trying to manage individually. You’ll lose money if you don’t price your property correctly. We do annual market analyses to adjust your rent appropriately. Not knowing what to do if your tenant does not pay can also cost you time and money. We know how to serve notices. You’ll also save yourself time. There won’t be any weekend calls for blocked toilets and sudden leaks.