What are the average costs of a property manager?

Question

I am thinking about starting to invest in rental properties typically 4 units. How much do they charge and are they worth the money?

Answer 1

Property managers will typically charge you 10-15% of the rent charged for the unit. If he is required to handle routine maintenance and repairs, then labor costs for him and any necessary help, plus materials, is charged above the rental commission. If the work is subbed out to a contractor, usually your rental agent takes no add'l fee for that from you. He may get a finder's fee from the contractor for getting him the business, unless you specify a particular contractor.

Answer 2

It depends. I was a property manager. The property owner gave me free rent of a 2-bedroom apartment, in exchange for managing the apartment complex, (purchasing new equipment, i.e., refrigerators, stoves, etc.) collecting rent, depositing checks and money orders in his bank, as well as, keeping records of rent paid in cash.

Communicating with contractors regarding re-painting move-out apartments and painting current tenant apartments.