When needing your properties to be sold, finding the right real estate agent is very important. This will determine the success of the over-all transaction. You sure want to make the most out of the deal, right?
Leasing fees cover advertising costs, inspections, and the cost of screening prospective tenants.
You can expect this fee to be some percentage of one month’s rent.
Additionally, some management companies will charge a lease renewal fee for existing tenants that choose to stay. This fee is usually $200 or less and covers the cost of making any lease adjustments.
Other Fees to Consider
As you research the various property management fees, it’s important to consider other fees that might affect the viability of your investment.
For example, you’ll want to keep your maintenance budget in mind and plan to set aside rental income for that purpose.
Discuss with prospective property management companies how you would like to be notified about routine maintenance. A general rule of thumb is that you should budget 1 percent of the property value per year for maintenance fees.
Is Property Management Right For You?
Knowing about these property management fees and preparing for them will help you determine whether property management is right for your investment.
Proper budgeting is key to successful real estate investing, so be sure to keep these ideas in mind as you move forward with your investing journey!
Looking for property management solutions or a real estate agent to help? Contact us today and the eFind Agent team will be happy to answer your questions!
Using the internet as a way to get our various needs has been growing very common nowadays. When it comes to real estate property sector, this is also not new. Through the website of efindagent.com you will be able to find the agent that will be most suitable based on your needs.