Menu

Making the Most of Your Real Estate Agent's Expertise

About Me

Making the Most of Your Real Estate Agent's Expertise

Buying a new home is an exciting experience, but there is a lot that has to be considered if you want to make sure that your investment is a solid one. For example, while it isn’t required, it is a good idea to have your real estate agent hire an independent inspector to have prospective homes personally inspected for safety and condition before making an offer. Learning how your real estate agent can best help you before actually hiring an agent will ensure that the person you work with has the experience and ideas needed to get the results that you want. On this website, you can expect to find out how to find a great real estate agent and how you can best tap into the talents.

Extra Fees To Ask About When Hiring A Property Management Firm

11 May 2017
 Categories: Real Estate, Blog

Hiring a property management firm to take over the duties you currently manage with your rental properties is one of the best decisions you could ever make. These types of companies know how to manage rental units and can help you find more success with your properties. As you look for one to hire, you may want to find out exactly what types of duties are included with the main fees you pay, and you should ask about extra fees. Here are several extra types of fees you might have to pay with some property management firms. 

Fees for vacant apartments

Most property managers charge their main fees with a percentage of rental income collected; however, there can be additional fees. One such fee is a vacancy fee. This is a fee the firm will charge each month when units are vacant. They do this to make up for the lack of income they earn from their regular fees, and a vacancy fee is typically a set amount, such as $50 per vacant unit per month.

Advertising expenses

There are firms that include advertising with the main fees, but there are also firms that do not. If a firm does not include advertising in the main fees, you may have to pay for this separately. The fee is designed to cover the expenses the firm will encounter by advertising in local papers and online, and this is often necessary to find tenants for vacant units. If the firm you hire charges advertising fees, ask them how they calculate these and approximately how much they will cost when needed.

Eviction fees

Some firms also charge a fee each time they are required to complete the eviction process. Evicting a tenant is typically done when the tenant is not paying his or her rent, or when a tenant is breaking rules of the lease. The process of evicting a tenant takes time and costs money, and the firm might charge you each time this occurs. The good news is that property management firms use strict guidelines and procedures when finding tenants to rent to, and they are usually really good at finding great tenants. Because of this, there may be very few times eviction is needed.

If you are tired of running your own rental units and would like a break from these duties, you may want to call a property management firm like Choice  Maintenance Group LLC to find out how they can help you.