Property management fees are discussed. Our company charges 10% of gross rent collected per month. We don’t have any other fees, because we don’t have to charge those fees to be profitable.
Let’s take advertising fees as an example. Advertising in property management, if you know what you’re doing, is very inexpensive. In our industry, whether we market 1 or 20 properties the cost to us remains the same. It’s the time invested that changes and increases.
Real estate services are subscription services for the most part. The cost doesn’t go up a whole lot when more properties are involved.
Leasing fees are just padded fees. You’re paying a property manager to put someone in the property so they can charge you to manage the property they were just paid to put someone in. Finding good tenants isn’t complicated.
Many of the fees others charge make no sense. Fees are charged simply because other people charge the fees. Fees are charged simply because people will pay them because they assume they are legitimate.