Rental Agent Fees
Fees can vary from area to area, but it’s typical for rental managers to charge you a small percentage of your monthly rent—commonly between 8 and 15 percent—for their services. If you choose to use a rental agent for “leasing only” purposes, they’ll likely charge you roughly one month’s rent in exchange for marketing and showing your property, screening tenants, drawing up a lease agreement, and ultimately placing a well-qualified tenant in your rental.
Rental Agent ROI
As for cost effectiveness, keep in mind that the most important aspect of maintaining your rental property’s profitability is keeping it rented. Outside of major upkeep and repair-related expenses, vacancies and turnover costs (which include all the work you have to do to get a property ready to rent again between tenants) are two of the most expensive budget items you’ll face as a rental owner. Depending on the specifics of your investment, a two-month vacancy could very well wipe out your profits for the year.
Experienced rental agents can not only fill vacancies faster than inexperienced landlords, they’re likelier to place reliable, long-term tenants in your available units, reducing future turnover costs and vacancies.
Category: Rental Agent FAQ