What is your monthly property management fee Likewise are there other administrative fees or other service charges - cropped

Property management fees in our area are typically in the 5% – 10% range.

Our property management fee is normally 8 percent (*) of the monthly contract rental figure with a $75 per month minimum. (Note: If your home is vacant for a period of time with work other than rental work being done or overseen by First Realty/Pryor & Associates, then you will be charged a flat $75 per month.)

We are not a “cut-rate” management company that gets your attention with low fees and then has an extensive menu of add-on fees. Instead, our management fee is a fairly “pure” figure without a whole list of add-on fees. We do not charge for: every stamp that is used; every e-mail, letter or phone call that is made; overhead on regular repairs; copies; long distance calls; mileage, other incidentals, etc. We do charge a minimal fee for checks written ($.50 each) and for annual 1099 preparation.

The only other expenses you could incur would be for services which fall outside the normal scope of our property management agreement (such as contracting a major renovation or room addition; assisting in sales efforts for which we are not otherwise being paid; dealing with insurance companies on behalf of the owner if there is a catastrophic loss; dealing with county or city rental inspection programs.) These scenarios are all outlined in the Property Management agreement but rarely come about.

(*) – if your property has serious deficiencies or is in the middle of serious problems, we reserve the right to either:

– adjust the management fee upwards; or

– negotiate fee based pricing for specific services; or

– decline the account