How Much Does a Property Manager Cost in Massachusetts?

How Much Does a Property Manager Cost in Massachusetts?

What does the average property manager charge?

As a property owner, you might be considering hiring a property management company to take care of your rental properties. One of the first questions you might have is, “How much does a property manager cost per month?” The answer to this question varies depending on a number of factors, but in this post, we’ll break down some of the most common costs associated with property management so that you can better understand what to expect.

First and foremost, it’s important to note that property management companies charge different fees for different services. Some of the most common fees include:

  1. Management Fee: This is the most common type of fee and is typically charged as a percentage of the monthly rent. The average management fee is between 8-12% of the monthly rent, but this can vary depending on the company and the level of service provided.
  2. Leasing Fee: This fee is charged when a property manager finds a new tenant for your property. It’s usually equivalent to one month’s rent and covers the cost of marketing your property, showing it to potential tenants, and screening applicants.
  3. Maintenance Fee: This fee is charged when a property manager oversees maintenance and repairs on your property. It’s typically a percentage of the cost of the work done, but some companies charge a flat fee.
  4. Lease Renewal Fee: Some property management companies charge a fee when a lease is renewed. This fee is typically a percentage of the monthly rent and covers the cost of preparing and signing the lease renewal agreement.
  5. Vacancy Fee: This fee is charged when a property manager is responsible for finding a new tenant to fill a vacancy. It’s usually equivalent to one month’s rent and covers the cost of marketing your property and screening applicants.
  6. Advertising Fee: This fee is charged when a property manager advertises your property on rental listing websites and other advertising platforms. It’s typically a flat fee and covers the cost of creating and posting ads.
  7. Late Payment Fee: If a tenant pays rent late, some property management companies charge a fee. This fee is usually a percentage of the late rent payment.

It’s important to note that not all property management companies charge all of these fees, and some may have additional fees that are not listed here. It’s important to carefully review the fee structure of any property management company you’re considering before signing a contract.

What does GIM Property Management charge (and how they are different)?

Now that we’ve gone over some of the most common fees associated with property management, let’s take a look at how GIM Property Management’s fees stack up.

At GIM Property Management, we believe in transparency when it comes to fees. We offer our clients a variety of pricing options to ensure that they can find a package that works for their specific needs and budget. Our fees are designed to be competitive with industry standards while still providing exceptional service to our clients.

We do not believe in charging fees for onboarding, late rent payments, sending text messages, and many other things that other property managers surprise their clients with.

Also, GIM Property Management has NEVER raised its fees!

Learn more about the services offered in our different pricing tiers here:

GIM Property Management Pricing

Compare