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Leo Diaz's Blog

By Leo Diaz | Property Manager in Orlando, FL

What do Property Managers Charge ?


Most people know that if they want to hire a licensed real estate agent to sell their home they will most likely have to pay a 6% commission to get the job done. However things are not so black and white when it relates to property management.

 

There are many factors that will determine what property managers may charge for their services. We must first understand that property managers can provide two types of services, tenant placement and or management services.  If you are only interested in having a property manager find you a tenant you will most likely have to sign a “ non management” agreement with the agent.  The property managers will market the property, show the property, qualify the tenant and eventually get the tenant to sign a one year lease agreement. Once the tenant is placed the agent is done and the home owner takes over.  It is common for the property manager to charge the owner 1st month rent for this service.

 

The second option is to have the property manager “manage” the property. The responsibilities are the same as tenant placement however after the tenant is placed the manager is responsible for  collecting rent, handling maintenance issues, holding deposits and disbursing funds to the owner. It is common for property managers to charge the owner 50% of the first month’s rent and 10% of the rent afterwards for managing the property.

 

No matter if you are looking for tenant placement or property management services, always read the fine print and make sure there are no upfront fees or strange cancellation policies in place.

Leo Diaz
Lic Real Estate Broker / Owner

407-283-5065

www.OrlandoPMrealty.com




Comments

By Tony McMahon,  Mon Jan 17 2011, 06:40
Compensation for most that I am aware of is 1 month's rent for renting it out than 10% per month to manage there after.
By Anne143,  Tue Oct 11 2011, 02:23
Nice information, valuable and excellent design, as share good stuff with good ideas and concepts, lots of great information and inspiration, both of which we all need, thanks for all the enthusiasm to offer such helpful information here.
GoRenter Property Management
By Susan Michaelidis,  Mon Sep 30 2013, 14:03
what about the snow removal/landscaping, maintenance the building might need is this a separate cost to the owner?
By Leo Diaz,  Tue Oct 1 2013, 07:58
Hi Susan. Generally speaking when it comes to a residential lease the owner is responsible for maintenance. The lawn care is negotiable. Finally, as to snow removal, well I'm afraid I don't know what the standard is since our company is based out of Orlando Florida : )
By Rogeradams85,  Fri Oct 18 2013, 23:53
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By Shaukatali Kadibhai,  Sat Oct 19 2013, 10:30
Very informative and well presented.

Kadibhai (Kadi)
Better Homes & Gardens Gary Greene, Realtor Katy/Houston
Phone: 832-228-7978
Fax: 281-646 1841
Email: kadi.kadibhai@garygreene.com
Web: http://www.har.com/kadi
"The highest compliment I am ever given is when
I am referred to your family & friends!"

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By Jjhomes234,  Thu Mar 13 2014, 01:18
Hello,
This post is about property management.Property management includes the processes, systems and manpower required to manage the life cycle of all acquired property.
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