It is important for the property management team that is hired by either the property owner or landlord to establish a strong and stable bond with the tenants. They want to ensure they get the best from the Phoenix property management company that they select. It is important that they meet the owner’s needs for their property.
Management companies differ in many aspects including fees. It is important for the management staff and the owners to communicate so they can organize plans and meet the necessities of the properties. It is important for the cost of the management company to be measured to ensure that it will fit in to the budget of the property.
A primary fee that is inevitable in Phoenix property management is the commission, and it is important for the landlord to provide it. It is a payment that is due monthly to the company that handles the managing and maintenance tasks. Typically the fee is between three up to fifteen percent of the amount of the monthly gross rents. There are some companies that work with a set fee instead of one that fluctuates based on monthly numbers.
Another fee that is required is the lease fee required by the landlord for new tenants at move it. It consists of the time and resources that are involved in making a new account. It also includes the time that is spent in showing the vacant units to prospective tenants. Another fee is called a finder’s fee. This fee is subtracted from the initial rent from the new tenant. Some companies require the fee to be paid prior to the new tenant being found. This fee is non-refundable, and it is standard.
When a tenant renews their lease, the landlord is also required to pay a fee. A present renter decides to prolong their stay in the same unit for a certain amount of time, the fee then includes the expense of preparing documents and paperwork. It also covers communication that is presented in the simplification of the new lease and property inspections.
It is important for the property owner to have an expectation of how much the fees are going to be, so they are not shocked when a large bill comes in. Certain fees are for repairs and maintenance completed by the in house staff. Hiring a Phoenix property management company can be pricey, so it is important to interview more than one company before making your decision.
Simply Property Management is committed to helping owners and investors maximize their returns on their investments. When you are in the market for a Phoenix property management company you can rest assured that all of the properties details will be met because it is backed with 25 years of experience. Visit phoenixpropertymgmt.com for further information.
Property Management Costs