Francisco Be…, Other/Just Looking in New York, NY

what is the percentage rate that a property manager ask for?

Asked by Francisco Bermudez, New York, NY Wed Sep 26, 2007

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3
Francisco,

There is not a right or wrong answer to this question. I recommend you read this guide on property management fees.

http://www.managemyproperty.com/knowledgebase/property-manag…
0 votes Thank Flag Link Fri Oct 23, 2009
I don't think there is one answer to this question. I will give you examples of what I pay:
I own a beach cottage in FL. The company that rents, manages (since I am in NJ) They receive 20%. They handle the rental end and also hire the cleaning service and oversees any maintenance problems.
I also have a multi-use building in NJ. One of my tenants manages the building for a rent reduction of $300/mo. He not only manages, but does the routine maintenance.
Find someone you can trust and ask other landlords around in your neighborhood what the going rate is.
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Wed Sep 26, 2007
This could all be negotiable on type of rental that you have, such as a 4-plex or condo. Obviously a Manager will have more to look after and more liability in a single family house. A condo especially one maintained by an association is much less stress than the usual home. I managed over 700 rentals for 3 years and personally would just negotiate with each client. You may also look for a discount in bulk, multiple units=lower percentage. Newer homes are less of a worry producing less tennent/ upkeep problems as well.
0 votes Thank Flag Link Wed Sep 26, 2007
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