Owners looking for professional Sandy property management are often confused about what it really costs and whether it’s really worth it. That’s because each company charges their own fees and structures those costs a little differently. In this market, you may find management companies that charge a flat fee or a percentage of the rent that’s collected. Some management fees will be all-inclusive and others will cover only a few things, and then charge extra for additional services.
When you’re looking for management services, make sure you’re comparing the fees you’ll pay to the services you’ll receive and the value you’ll enjoy. Smart investors know that professional property management more than pays for itself; with a good management team, you’ll earn more and spend less on your rental homes.
However, you want to make sure you’re paying a fair and competitive price. You also want to stay away from any hidden or surprise fees.
Sandy Leasing Fees: Flat Rate vs. Percentage
One of the first fees you’ll encounter is a leasing fee. This covers the cost of renting your vacant property to a tenant as well as the time it takes to prepare the listing, show your home, and respond to potential tenants who have questions or need information. It also includes the tenant screening process, the communication with tenants, and the negotiation and execution of the lease agreement.
Some management companies will provide these services for a flat fee. Others will charge a percentage of the first month’s rent. At Safeguard, the leasing fee you pay depends on whether you’re planning to use any of our other services. If you only need us to find and place a tenant, you’ll pay the equivalent of one month’s rent for our leasing services. If you’re going to use our team for full-service property management, our leasing fee drops to a flat $315.
Sandy Property Management Fees
While there are management companies that charge a flat management fee, most companies in and around Sandy will charge a percentage of the rent that’s collected.
The leasing fee is paid each time a tenant is placed, and the management fee is paid every month. For most owners, it includes things like:
- Online rent collection and rent payments
- Detailed accounting statements and property management bookkeeping
- Emergency and routine maintenance
- Lease enforcement
- Communication with tenants and vendors
- Eviction coordination when necessary
- Service of notices and correspondence
- Legal and regulatory compliance
- Technology investment including portals for tenants and owners
At Safeguard Property Management, we charge our owners 10 percent of their monthly rental income for our full-service management plan. This is competitive for the area, and allows owners to benefit from our years of experience, continuing education, and participation in professional organizations and associations. We bring a vast collection of tools and resources to the management of your property.
Additional Fees and Costs for Property Management in Sandy
Most owners we talk to prefer an all-inclusive and full-service management plan. They know that everything will be taken care of, and they don’t have to worry about paying extra for basic things that are included elsewhere. If you come across a company that has a dramatically low management fee, make sure you read the fine print. There’s a good chance you’ll be paying extra for things like statements, inspections, or even tenant communication.
If you’d like to hear more about what to expect from Sandy property management fees, contact us at Safeguard Property Management.