Above Property Management is located in Greenville, South Carolina, and we provide property management services for the upstate area. Today, we’re talking about what you can expect in property management fees when you work with a professional company.
How Much Do Property Managers Charge? Flat Fees
Your property management cost depends on the company you’re working with. Some will charge a flat fee, which is a regular sum of money you’ll pay every month, whether your property is rented or not. In Greenville, this flat fee starts at $65 per month and goes up to $125.
How Much Does a Property Manager Cost? Percentage Fees
Closely related to a flat management fee is a percentage fee. One is called percent of rent due, in which you pay a percentage of rent in management fees based on what the tenant pays. So, even if your tenant doesn’t pay, you still pay the management fee. There’s also a percent of rent collected fee. In this case, you only pay a management fee on what the company was able to collect from your tenant.
How Much is a Property Manager? Tenant Placement and Evictions
You can also expect tenant placement fees. Some companies will charge $100, and others charge up to the equivalent of one month’s rent. You might find your property management company also charges an eviction fee. These start at $100, and go up to over $1,000 if an attorney needs to get involved.
How Much Are Property Management Fees? Renewals and Inspections
A lease renewal fee is also charged when a tenant wants to stay another year. Management companies often charge you when those tenants sign a new lease. These will range from $100 to half a month’s rent. Finally, there are inspection fees. With your management agreement, you will probably get move in and move out inspections included. But, what about other inspections? Those can range from $85 to $125.
If you’re looking for more information on property management of Greenville, we can tell you about what we charge for our services. If you want to know more about making extra profit on your rental property, contact us at Above Property Management, and we’d be happy to discuss that with you.