Breaking down what you’ll earn in the first month versus the second.
I often get asked about the difference between the first month and the second month when you sign up for our property management. Today I’ll break down this question and explain our property management fees. I understand that everybody would love free service, but that’s not possible. However, when you sign up for property management, we’ll take care of a lot of things for you.
“Once you get to the second month, things become very simple.”
Let’s say you have $1,500 coming in every month as rent. Your leasing fee will be half of your incoming rent, so $750. We require $300 as a maintenance fee in case we have to pay any type of contractor. This fund is always yours to have back in the very likely case that it isn’t used. Finally, the management fee is $110. As you can see, during the first month you would only be earning $340.
In the first month, it might seem like a lot because you’re paying for the leasing fee, credit and background checks, lease preparation, and marketing and photos. Once you get to the second month, things become very simple. Going back to our example, $1,500 in rent minus the $110 management fee is $1,390 in your pocket every month.
If you have any questions, don’t hesitate to reach out to us by phone or email. We look forward to hearing from you.
