I live in Panama and have been asked by a client in NY to lease his house here in Panama for him. I have one week to provide my quote and do not know what is normally charged by leasing agents. One site said 10% of the monthly rent, or one month's rent. However, I will also be tasked to find renters, collect rent, furnish the house, vacancy turn-around, minor repairs etc. He is asking me what is my monthly management fee and I have no idea what to charge. Any advice from current leasing agents would be extremely appreciated.
2006-06-20 00:25:26 · 4 answers · asked by PanamaHat 1 in Business & Finance ➔ Renting & Real Estate
Every location is different. I've seen management companies charge 60 to 100% of the first month when the renter is found and then charge 10% each month for the management. In addition, you may want to charge an additional 15% for finding the furniture and getting into the house. The rent will be more if the home is furnished, thus your monthly 10% will be more. Get the owner to give you a reserve if items in the home stop working properly. You should only call the owner if repairs exceed the reserve amount. Keep in mind the owner wants no hassles with this transaction.
2006-06-20 05:57:38 · answer #1 · answered by Anonymous · 0⤊ 0⤋
In NYC the commission for renting an apartment would be 15% of the yearly income.
So you can easily ask for 20% (including management)
2006-06-20 04:22:43 · answer #2 · answered by ilyaniv 1 · 0⤊ 0⤋
As prices vary wildly with each market, you need to talk to another leasing agent local to the house he's asking you to manage.
2006-06-20 02:24:30 · answer #3 · answered by Anonymous 7 · 0⤊ 0⤋
Ten pecent is standard for a Management Fee.
2006-06-20 03:42:05 · answer #4 · answered by educated guess 5 · 0⤊ 0⤋