What do Property Managers normally charge?

Most people know that if they want to hire a Real Estate Agent to sell their home they will most likely have to pay a 6% commission to get the job done. However, things are not so black and white when it relates to property management companies in Orlando.

There are many factors that will determine what property managers may charge for their services. We must first understand that property managers can provide two types of services, tenant placement and or management services. If you are only interested in having a property manager find you a tenant you will most likely have to sign a “nonmanagement” agreement with the agent.

The property managers will market the property, show the property, qualify the tenant and eventually get the tenant to sign a one-year lease agreement. Once the tenant is placed the agent is done and the homeowner takes over. It is common for the property manager to charge the owner 1st-month rent for this service. The second option is to have the property manager “manage” the property. The responsibilities are the same as tenant placement however after the tenant is placed the manager is responsible for collecting rent, handling maintenance issues, holding deposits and disbursing funds to the owner.

It is common for property managers to charge the owner 50% of the first month’s rent and 10% of the rent afterward for managing the property.No matter if you are looking for tenant placement or property management services, always read the fine print and make sure there are no upfront fees or strange cancellation policies in place.

What should I rent my house for.

If you are thinking of renting out your house, it’s absolutely crucial to find out what other properties in the area are renting for, once you’ve determined the general price range it’s equally important that you pick a nice round number as your monthly rent. We have to understand that the majority renters search for properties online and when they do they normally use round numbers. It is unlikely that a potential tenant will search for properties between $995 to $1195. It’s much more likely that they will simply type in $1000 to $1200. In real estate, you should always try to use nice round numbers.