Property owners who are too busy to manage their property, those who live far from their property, or simply does not want to be bothered by the everyday operation of a rental property clearly needs a property manager no matter the cost.
Rental Property Management Fees
There is no regulation for a fixed rental property management fees, it simply varies from one company to the next. Common to all rental management company are the percentage fee and the advertisement fee.
Percentage fee is usually 7 to 10% of the rental income. Depending on the company, they may charge lower or higher than the normal percentage. Regardless of the percentage fee, you have to make sure that you are getting quality services out from the rental property management fee you are incurring.
Advertisement fee on the other hand is an actual fee. This means that you would only pay for the exact amount spent on advertisement in any form. If you are being charged over your actual advertisement costs, then you came to the wrong company.
It is normal for most property owners to consider the rental property management fees when considering hiring a rental property management company. But most times it is wiser to base your judgement by the quality of service and expertise rather than the cost.