Weichert Realtors- The Peevler Team

Property Management

Services include: 

• Rent Collection

• Direct Deposits to your bank

• 24/7 Maintenance/ assistance for tenants

• 24/7 customer service and support for you 

• Onsite visits for emergency situations

• Monthly property accounting

• Communication with tenants

• Year end statements

• Copies of all invoices and work orders

• Property evaluation

• Before and after photos of repairs

• Utility coordination

Initial Setup Fees:

The first property management cost you are generally asked to pay is an initial account setup fee. This is a one time initiation fee intended to cover the paperwork and processes necessary to set up your account with your property manager. Some property management companies charge between $300-$500 for account set-up, while other property management companies do not charge for this service. At Weichert Realtors- The Peevler Team, we do not charge an account setup fee.

Property Management Fees:

The management fee is the basic fee that property managers charge for their monthly service. This fee is usually a flat percentage fee, typically between 7-10% of collected monthly rent. Weichert Realtors- The Peevler Team has a set rate of 7-8% monthly management fee.

Tenant Placement/Leasing Fees:

The tenant placement/leasing fee charged by property management covers the preparation, marketing, and leasing of your residential property. The management company will typically do a walkthrough of your home once you hire them. During the walkthrough, they will make recommendations on what aspects of the home need improving or repairing before they can begin advertising the property for rent. The property management company then handles all aspects of finding and placing a tenant for the landlord. There is a fee of 100% of one month's rent paid over a 12 month lease for tenant placing and renewal.

Lease Renewal Fees:

Some rental management companies have a lease renewal fee. This charge is for renewing an existing lease when a tenant wants to rent for another year. Lease renewal fees are typically around $150-$300 and are separate from your property management fees. Lease renewal through our team is $99.

Maintenance Fees:

Occasionally property management groups charge a maintenance fee. This is a percentage charged on top of any maintenance work they coordinate. For example, they may charge 10% on top of any maintenance job. So if the garbage disposal costs $100, you will be charged $110. That $10 goes to the property manager. Routine maintenance can help keep annual costs down. Weichert Realtors- The Peevler Team does not charge a maintenance markup fee.

Annual Inspection Fees:

A routine apartment inspection will ensure your rental is in good shape and that there is not any damage to the building. Also, annual inspections help your property manager ensure that the tenant is not infringing on the terms of their lease. Additionally, your property will be well taken care of and any issues will be addressed immediately. You can expect to pay $150 for this service. Annual inspections are generally a nominal property management cost.

Summary of your Average Property Management Cost

What are the different fees property managers charge?

*** Weichert Realtors- The Peevler Team does not handle any involvement in the eviction of a tenant or removal of any current tenants. ***