Is market rate for a property manager 10% / month + 1 month rent per lease up? That seems to be the going rate but seems steep.

like
Posting as :
works at
You are currently posting as works at

Seems high. We pay 5% gross rent with first month’s rent for a unit at the start of a new lease. And then all the maintenance and upkeep fees where I’m sure they’re taking some margin

like

Yes. Often the rate will go down with multiple properties

I pay 6% month, only managing one unit, but yes one month rent to place new tenant. Just started so not sure if anything will be required for renewal (I know I should know, I just don't remember what we discussed)

Pretty standard

You're paying that just so someone will answer the phone, which may or may not ring. Then they charge you again when they send someone out. Find one that you pay a monthly retainer and doesn't charge for service calls. Or do fee based, you only pay if they do something that month.

Can you manage it yourself?

OP—it depends on the type of property and what the manager is doing. In mgmt. fees one size does not fit all.

That’s 10% gross rent?

Collected rent but yeah

That seems about right. But curious to know what exactly does that cover? If a light bulb needs to be changed in a common hallway, are they going to outsource that or would that be a covered service?

For a single property, yes. If you have a lot, that can get closer to 5% + 1/2 month. IMO, if they don’t charge a markup for maintenance and have reasonably priced vendors10% + 1 month is fair, but if they also charge a markup on work orders it is steep

Related Posts

Hey There,
Currently working as Electrical engineer in medical device company. Been applying to few battery and electrical engineering jobs at amazon in seattle and california locations. If anyone could provide referral for the job, that would be very helpful.

like

Anyone working in global pricing & market access (P&MA) consulting? New to the field and conscious which firms are top in their game

like

Who are the top consulting firms for each of the type of work in Pharma?

Corporate strategy -
Portfolio + brand level strategy -
Sales & marketing strategy -
R&D strategy -
Transactions / M&A strategy -
Analytics -

Feel free to put more than 1 firm in each category :)

like

Are the economy parking lots at ORD still open? Asking for my parents who will be traveling from the suburbs to the airport, and prefer to drive their own car.

like

Lol what is this headline! How is this peaceful?

Post Photo
likefunny

Men are too emotional to be President

Post Photo
likefunnysmarthelpful

Hey! For one of my project, I had to build macro to do data cleansing in excel. However template might change one day to another. Anybody knows good resources I can use to make this a sustainable ...

Anyone taking SSRI and Bupropion at the same time for ADHD? Diagnosed as high functioning ADHD with anxiety. Curious to see how this combo has worked for you. Day 3 on it and not sure if I’m feeling a bit of placebo or if it’s actually helping my focus.

like

So grateful I have my GC and orange cheeto can’t get me now!
F-1 to H-1 to GC to Citizenship ✈️ 🧚🏾
- Brown Tinkerbell

like

Guys, does Barclays have any projects which works in Power Platform technology ( Power Apps, Power Automate, etc)??

I need a referal

like

Should I invite fewer people to a destination wedding or will people just naturally decline?

like

It’s feeling impossible to find a long lasting mentor-mentee relationship, especially when agencies are understaffed, timelines are ridiculously short and the best in the biz jump ship every two-ish years…

Does anyone have tips on how to become a better writer when you don’t have consistent senior writers around to share your with with?

like

Every time someone tries to pitch us on “a new exciting untapped market” 🧐

Post Photo
likefunny

I need advice , 2YOE big 4 audit . My dream job is forensic investigation /intelligence /litigation. Current location is USA and I will be moving to Canada next year fall. I don’t want to work in audit when I get there. This busy season has really stressed me out. Should I stick it out for this last year or get a job in forensic field now . I’m just lost , I don’t know if it will be better to have forensic experience before I move. Thanks

like

Received a verbal offer/commitment from the engineering team 3 weeks after my interview process. Still sitting and waiting (1.5 weeks) to have the conversation about compensation expectations and finalizing the offer. Is the Google hiring process typically this slow? I feel like this is not a good reflection of their recruiting process. Let me know if you've had recent/similar experiences

like

Hi all, I have an offer from PwC AC ...could anyone please enlighten me with the working culture, wlb, and any other useful inputs..this is for the strategy role

Is the only way to find out your case tracking number through the physical receipt notice?

How’s everyone doing out there? Busy? Slow? Remote? In person? Lower rates?

like

Additional Posts in The Real Estate Bowl

I’ve got a partnership w/ two of my uncles. We have two houses on rent. we use the profit from the homes as a single pot where we pay for the maintenance expenses (different cash flow from each). We are close family and they trust my judgement. Another of my uncles wants to join for the next home we buy. How do we split/ allow their buy in to our partnership for the next home? I don’t wanna add extra accounting of maintaining expense/cash flow from the next one we buy as a larger group Thoughts?

like

How long did it take you to purchase your first rental property once you started looking? I’ve been working with an agent for about a month with one offer not accepted, feeling discouraged

like

New strat folks.
1. Buy a condo complex.
2. Put the land under said condos into a land conservatorship (for taxes)
3. Rent condos at discounted rates (for taxes)
4. A small fee of the rent goes to a trust as a land conservation fee in perpetuity (for tax reasons)
5. Have another business generating revenue to offset this.

like

Anyone sell to Zillow? Got an amazing offer from them, but naturally my floor decided to start deforming right before inspection. No water damage - I can get someone out here to fix it ASAP, but wondering if it’s worth the hassle. Mostly worries inspector will think there’s water or foundation issues

like

Trying to find an investment property to rent out for about $300k - what are your recs for location ?

like

What percentage of homes get sold without getting listed on the mls (off market deals)? Is it usually worth it for the buyer or seller?

like

I heard you need to show a net worth of 100% of the loan amount. Have you heard about this?

like

Has anyone here used New Western to buy real estate deals?

like

Where do you get your Airbnb data for rentals? Deciding between STR and LTR on my property right now

like

Looking to buy in the DMV suburbs (northern VA). Is this the wrong time for such a move? Beyond down payment, got about 6mo emergency fund and must tap into it for moving&house expenses like furniture

like

If I’m a Real Estate Agent buying my own property, can I negotiate the Buyers Agent commission to be 0% instead of being paid the buyers commission? Essentially converting what would be Income into Cost Savings for tax purposes?

like

Hi - any good books recommendations for getting started on real estate investing?

like

Looking to buy an investment property in Nashville. Can anyone here connect me to good realtors I can work with in the area? Trying to close in < 6 months.

28 year old with ~125k in cash/brokerage. Have been wanting to begin purchasing rentals but anxious to use a good bit of my liquid savings. Thoughts on biting the bullet vs. investing in stocks. In Houston if that is a factor

like

I have over 12 years in B2B sales/sales management experience along with a graduate degree. I am wanting to shift gears and I am at a point where I can invest time in myself to learn through practical experience. The new industry I am wanting to pursue is real estate investment. I have read all the books but want some hands on experience on the property management side. How could I best leverage my skills for a role in this, and what should my expectations be for negotiation in compensation?

Can I get a commercial loan without 25% down?

like

Y’all I am struggling on these “light” home improvement projects we decided to take on with a recent house purchase. Plan was just to replace carpets, paint some walls, and replace kitchen appliances. Now added on new faucets, other bathroom hardware / mirrors / toilets / medicine cabinets / exhaust fans, baseboard recaulking and cleanup, kitchen sliding door, ceiling fan rewiring and install, window replacements… how do I rein it in?? So stressed out and we keep delaying move in. 🤯😱😭

like

Any one knows what’s the easiest way to order a radon test for new construction?

like

For people who recently refinanced, bought or is in the process of buying a new home, what APR did you get?

like

What is the term for giving your home buyers a credit for immediate renovations they will have to do before or upon moving in? And how does it affect the seller?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal