We often get calls from property owners who want to inquire about our management services, and they immediately ask about our property management fees. Some times they tend to leave it at that. It’s very important to know what you’re asking for and what kind of information you should be seeking. Fees can include a lot of different things, and instead of asking only about the cost, make sure you know what services you’re getting in exchange for those Modesto area property management fees.
Set Up Fees
Property management companies in Modesto and greater Stanislaus county tend to charge clients for set up fees. When they take on a new client, there are costs associated with setting up that owner and the property as well as any existing tenants who may be living in the home into their system.
If the property is vacant, most property managers will charge a leasing fee. This fee covers the cost of marketing the property, collecting applications and screening the tenant.
The monthly management fee is collected for services that include the ongoing care and protection of your property and your tenant.
Other fees may also be charged by some property management companies. Ask if there are any inspection fees that may be charged when your property manager conducts inspections. Find out if there are posting fees. If a tenant doesn’t pay rent or always pays late, they may need to be served with a Three Day Notice. You’ll need to know if you will be charged extra for that. Some companies charge mailing fees as well if they send out checks. If your property manager pays you online, find out if there is a charge for direct deposit.
There are many fees a management company can assess, and those costs reduce your ROI. If you want to know the right questions to ask, contact us at New Bridge Management.