Property Management Fees?
I have been doing the management for all of my properties but find that managing my time between two businesses is no longer possible.
I am researching property management companies. Properties are located in eastern PA (total 8 units). Can anybody share information as to what should be paid for a monthly fee/percent and what you should expect for that fee?
I know you can negotiate but I wanted to get some thoughts from my fellow investors as well.
Hi, I currently have properties in eastern pa as well. I manage my own and 2 others for someone else. One I will too be looking for a good property management company but so far I have not stumbled across one in my area. I may have to create my own. Where at in eastern pa are your properties?
Easton area. It seems the companies want to charge 10% of gross monthly rent. They are negotiable though. I hope some other people offer some advice so I know what is a fair percent to pay.
i think what you will find is 8-10%...i charge 10
Quote:Look for management companies that can do direct deposits. You will get your rent distribution in your bank account up to 10 days faster than it would happen if they send you a check.
Make sure you see a copy of the monthly statement you will receive and understand what sort of year end accounting report you will get at the end of the year with your 1099.
This is great advice. (Thanks!)
MC