3 Things You Need to Know About Property Management Fees
If you’re new to being a landlord, you might be considering hiring a property management company to maintain your property. However, before signing any contract, the team from The LaBrada Group wanted to highlight some important things to consider when it comes to the fees you’ll be paying.
Below you’ll find all you need to know about property management fees so you can get the best services for you and your tenants!
Rent Collection Fees
When collecting rent from tenants, there are two ways that property management companies will calculate the fees they’ll charge you. They may choose to collect them on a monthly basis and charge you a percentage of your overall monthly rent collection.
But there are also some companies that charge you a percentage of what you were actually able to collect from your tenants in a given month. The latter of these is more beneficial for property owners, as it gives you some leeway if you have tenants that don’t pay rent or are late in paying it.
A property management company will be responsible for maintaining your property and keeping your tenants happy. Often, there will be maintenance fees associated with this service. This is because the property management company may need to perform repairs from time to time. If there are extensive repairs needed on your property, your maintenance fees will likely be more that month than usual.
It’s no secret that tenants may relocate from time to time. When this happens, your property management company may charge you a finding fee if they’re the ones responsible for filling that vacancy. These fees can be based on the monthly rent or a percentage of it, or as a fixed rate negotiated beforehand.
LaBrada offers top property management services in Upland; book an appointment today!
If you’re a new property owner in need of management services or advice in Upland, contact the team from The LaBrada Group online today or call (909) 981-3500.