A property management fee is a payment for services involving the operations of rentals. These fees often cover maintenance, marketing/tenant placement, evictions, and payments. Property management fees are usually expressed as a percentage of monthly rent or on a flat fee per unit.
A typical property management fee ranges is 5-15% of the monthly rent. But property management fee structures can vary significantly. Some companies charge a monthly flat fee per unit. Others will charge one fee up to a certain number of units. Many property management contracts also include bonuses or penalties based on performance.
Property management fees can cover a variety of services. Not all property managers offer the same things. Some may charge extra for each additional service. For example, many property managers will help market a property and secure a tenant. Other property managers only help with maintenance. The following is a list of common services: