Roseville property management fees can range from about 8 percent to 10 percent of the monthly rent, depending on the company you choose and the services you require. If you have several properties under management or an apartment building with 25 different units, you will likely pay a different fee than if you have a single family home for rent. When you’re talking to property managers and trying to decide who to hire, remember to measure the value of the service against the fee that’s being charged. There are a few other things to consider.
Management Fees during Vacancies
You shouldn’t have to pay for management while your property is vacant. The fees we charge at Sunburst Properties are based on collected rent. That means if the property is vacant or the tenant isn’t paying, we aren’t getting paid either. This will give your property manager incentive to keep your property rented and your tenants paying on time. Make sure the property management agreement reflects that you don’t have to pay until a tenant is in place.
Many property management companies charge a leasing fee in addition to the monthly management fee. While it can be a common fee, you don’t want to find yourself in the position where you’re paying an additional fee every time a tenant moves in or out of your rental. Ask what you get in exchange for this fee; there should be an aggressive marketing strategy, thorough tenant screening, and a comprehensive leasing process.
Find out if there’s a mark-up or a refurbishing fee on repairs. Some property managers will charge an additional percentage on a vendor or contractor’s bill. So, instead of just paying the $200 electrician’s bill, you might pay $225 to cover the cost of the electrician and the property manager’s involvement.
Additional Hidden Fees
Check your management contract for any additional fees. Your property manager should be transparent about what will be charged and when it will be due. However, you might find that you have to pay delivery charges any time a notice is served or an inspection fee or an administrative fee. You should also look for real estate requirements in your contract. Some companies will require that you use them as a Realtor if you decide to sell your investment property.
Property management fees don’t have to be confusing or expensive. Look for a company that charges a flat percentage of the monthly rent that’s collected, and you’ll be able to keep everything simple and uncomplicated.
If you have any questions about leasing or property management in Roseville, please contact us at Sunburst Properties. We offer professional property management in Roseville, Citrus Heights, Folsom, Rocklin, Granite Bay, Sacramento and the surrounding areas.