What To Charge For Property Management
Hello,
A friend will be living out of state for 6 months and has asked us to keep an eye on her personal residential prpoerty. This "property management" expense will be reimbursed by the company she works for. I am wondering what is reasonable to charge. I will just be driving by once a week and going in once a week. This is a nice suburb of Cincinnati.
Thanks!
I would simply call a few property management companies in your friends' area and see what the going rate is.
I'd charge $50-100 each time I visit the house depending on how far away from my house it is.
If I need to go to a property, due to a tenant reporting a problem (emergency), I charge a $75 fee, then problem resolution cost is charged above and beyond (time & materials).
Being its a friend and you're simply stopping bye, at your convenience, to check up on the property you may want to consider something alittle less costly.
Mark
Around here management companies typically start out with a fee of 5-10%. The 10% companies bill back less than the 5% companies.