While property management companies charge a percentage of the rental fee, the service can help landlords save time and stress. In addition to handling routine maintenance and repairs, property managers also handle urgent maintenance needs. A contract should specify the amount of fees a property manager is responsible for. Some companies charge between eight and ten percent of the collected rent. Some property managers also charge an advertising fee to attract new tenants. These fees can vary depending on the company and the services they provide.
What to Look for in a Property Management Company
When it comes to maintaining your property, the property manager can do everything from finding new tenants to handling maintenance. Moreover, the property manager can do background checks on rental applicants to ensure that they are reliable renters. They can also move tenants if they are not living up to expectations. Finally, a property management company can collect rent for you, as they are responsible for the overall wellbeing of their residents. While these services can be costly, they are well worth the price.
A good property management company will do all the necessary screening to find the best tenant for your property. They can screen prospective tenants and contact previous landlords and rental references for their reference checks. A good property management company will also provide a Welcome Pack to tenants that includes vital information about your property, contact numbers, the local area, and keys to your property. A good property manager will also make sure that new tenants sign leases and pay their dues on time.