If you own or rent out your property for rent to be rented out to tenants, you would probably agree that it’s more than just a simple task. A property management company is a great way to keep an eye on the performance of your property and the people who live there. With an efficient property management company, you can also do some preventive maintenance on your property. You can also make use of a property management company to help you manage the cost of repairs and renovations in your property. Learn more about Property Management Company.
Typical Property Management Fee As a starting point, expect to pay between eight to 12 percent of your monthly gross rental income as a base, plus other expenses. Some companies would charge more, such as, say, $1000 per month to maintain a residential property. This is for properties that are well-maintained. Some companies may even charge a fee if they need to perform any kind of repairs in your property. Most property managers require a deposit, which is usually paid back when the lease period ends.
Understanding the different kinds of property management fee will help you decide which one to go for. Generally, residential companies generally charge by the hour and usually have flexible hours. Landlords and tenants can also negotiate on the terms and amount of services provided. For instance, if you own a high-class residence, they would require that you pay an extra rental fee. But if your property is less expensive, you may opt for a cheaper rate. If you do not own a home, you can always take up the services of a property management company on a rental basis. With the right knowledge, you’ll definitely find a suitable company for your needs.
Fairfax Property Management Company
10306 Eaton Place #300-M4, Fairfax, VA 22030