- Management fees: While the fees charged for commercial and residential property management are significantly different, the average fees that a company charges the landlord is between 4 to 12 percent of the monthly rents. For single family homes, landlords are expected to pay nearly 10 percent and the location and condition of the property also need to be factored in the equation.
- Vacancy management fees- The contract should clearly indicate this amount. There are some companies which charge a fixed amount as a pro-rated value before a tenant arrives in the unit. Other companies collect the full monthly fee even when you are not earning monthly rent on account of vacancy. As a landlord, you must clearly understand these terms.
- Set-up fees- This is a fee charged by companies just for setting up an account with them. It is basically a fee for the time they invest and is irrespective of whether you have a tenant or not. It could be based on per unit or per property basis.
- Leasing fees- While the management fee is the factor on which companies base their profit centers, there are companies which charge leasing fees to compensate the property manager for investing time and efforts in finding you a tenant. Many owners are opposed to paying this fee and request including it in the management fees.
Property Management Hampton Fees Explained
KRS Holdings - Monday, February 29, 2016
Before signing a contract with a property management Hampton company you, the property owner, should be aware of following fees that may be included in it.