what is the average Property Management Fee percentage per month in Illinois?

Asked by sachamendez, New York, NY Wed May 22, 2013

I am moving out of the state and would like to rent my house since I cannot sell it. One management company has said 9% of gross rent. Can I bargain with them to bring them down?

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3
Myersjulie31, Home Buyer, Blakeslee, PA
Tue Dec 23, 2014
I think that if you are looking for good property management prices, it might be a good idea to shop around for different options. I really think that it would be a good idea for you to get good property management while you are gone and waiting for it to sell. If you are looking for a lower rate, you might look around for different options and then see if the lower prices still offer the same quality of service. http://www.calibrerealestate.com.au/property-management/inve…
0 votes
Jimish Desai, Agent, Wheaton, IL
Tue May 28, 2013
Property management will differ from company to company and also the number of units that you are contracting them to manage.

For one single family home, 8-10% is the average and of course, everything is negotiable!

The main thing is to ask them proper questions on how they will be managing your property. Ask what services are covered in their management fees. How do they manage evictions & cost of eviction. If they fill a vacancy, do they give you at least a 6 month guarantee? What do they charge to fill a vacancy? What do they look at in evaluating a tenant?

These are just some basic questions. Remember, that you are interviewing them!
0 votes
That's really helpful! I had never thought of digging into things like that, but it makes sense that you ought to know before you agree to anything. What would be a normal set of services to be covered by property management fees? And it's smart to continuously think of it as an interview that you're conducting, so you can control the conversation. Thanks for the help!
http://prdpenrithrealestate.com.au/your-property-management-team.php
Flag Wed Dec 9, 2015
These are excellent questions to ask when thinking about hiring a property manager. Do most property management sites have things like this listed on their site or would you have to call and ask them directly? It's true, you are the one hiring the company that will be taking care of your property. Make sure you cover all your bases! http://eastvalleypropertymanagement.com/company/about
Flag Wed Oct 29, 2014
These are excellent questions to ask when thinking about hiring a property manager. Do most property management sites have things like this listed on their site or would you have to call and ask them directly? It's true, you are the one hiring the company that will be taking care of your property. Make sure you cover all your bases! http://eastvalleypropertymanagement.com/company/about
Flag Wed Oct 29, 2014
These are excellent questions to ask when thinking about hiring a property manager. Do most property management sites have things like this listed on their site or would you have to call and ask them directly? It's true, you are the one hiring the company that will be taking care of your property. Make sure you cover all your bases! http://eastvalleypropertymanagement.com/company/about
Flag Wed Oct 29, 2014
Gordon Parker, Agent, Highland, IN
Wed May 22, 2013
Sachamendez

That is a decent rate. I've understand some start at 10% and I've even heard of and know some charging 15%. Property Management agencies are worth every dime that you pay them - especially for piece of mind. Get a list of all the services they intend to provide for you and at that rate per month make sure that you are hands off of everything other than making sure they are performing for you.

Respectfully,

Gordon Parker
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