Property management fees vary on the size and type of properties in your income property portfolio.
Ask for a free, no obligation consultation at your property to help you decide if Professional Property Management is right for you.
Leasing Fee
The leasing fee is a fee charged each time a new lease is signed for your property. In the case where each lease is a one year lease, you would see this charge at most once per year. This fee can typically range from $150 to $400.
Our Rate: $75 for a new Lease, $50 for a renewal
In many markets, including Salt Lake County, this fee is typically paid by a Tenant. However, while large apartment communities in Utah County are passing this fee along to Tenants, the single family and multi-family home market is still resistant to this fee so to be competitive, Owners are asked to pay the Lease Up fee.
Sample Calculation:
If the property is rented under a new lease, the Leasing Fee owed to Presidio Property Management from an Owner would be $50. When that same Tenant renews the lease, the fee will be $25. Should a Tenant vacate early, vacating Tenant will pay the Lease Up fee for the replacement lease.
Management Fee
The Management Fee is charged monthly and is paid to PPM out of rents actually collected from the tenant. You would see this charge once per month. Rates can range from 8% to 12% of each month’s collected rent for full service management.
Our Rate:
10% of each month’s collected rent for by-the-bedroom rentals
9% of each month’s collected rent for single family/condo/duplex/triplex properties
8% of each month’s collected rent for properties with 4 to 10 units. Also Owners that have more than four units under management with us
7% of each month’s collected rent for 11+ units in a single location*
*Includes single family properties leased at $3,500 per month or higher
Sample Calculation:
If the property is a single-family home rented under a lease to a tenant paying $1,000 per month, the Management Fee owed to PPM would be $90.00. We would take this amount out of each month’s rent actually collected from the tenant. This fee would be assessed monthly.
Maintenance Fee
The Maintenance Fee is charged only when maintenance is actually done on your property. Typical Utah Rate: Many management companies have in-house staff that they pay $15 to $30 per hour. They then commonly bill out this team at $60 to $80 per hour plus materials and a materials markup. Other companies work with in-house staff and outside contractors and then they bill out administrative/management time at $50 to $75 per hour to manage maintenance.
Our Rate:
We have elected to work with 3rd party licensed and bonded contractors. This ensures that we ALWAYS have enough capacity to meet the needs of our Owner Clientele, and we NEVER have to endure poor performance or quality. We have our choice of qualified contractors–and our contractors know this. We demand and receive good, competitive pricing from highly qualified contractors. At this time, maintenance dispatch is included as part of our full service Property Management commitment to you
Sample Calculation:
If we facilitate $500.00 of repairs for your property, the total cost to you is $500.00 direct to the various contractors we hire and manage. Owner pays no additional fees.
Free Rental Evaluation
Please complete the form below and we'll get back to you as soon as possible.
"*" indicates required fields