When you’re looking for professional property management in Phoenix, you need to know what you can expect to pay for these services. Phoenix is a hot market for investment properties right now. That means a lot of companies are in the valley, offering services for the professional management of single family homes. Each company sets its own fee structure. Sometimes, it’s a percentage of the income collected, and sometimes it’s a flat monthly fee. The most important thing to evaluate when you’re comparing companies based on price is what you can get for the fees paid to a property management company.
Property Management Fees and Extra Charges
Consider whether everything is included in your management fee, or if you’re being charged for services like maintenance coordination. Sometimes, a management company will take a percentage of a vendor’s invoice. So, the management company receives a percentage of your bill and then the vendor gets the rest. You might be charged for lease renewals and inspections.
You also need to know what kind of services your tenants are being charged for. They might have to pay to have their rent processed every month, and there might be other charges on top of what they pay for rent. This may feel differently to you because you’re not the one being charged out of pocket, but it still makes a difference to you and your property when your tenant is being charged for services they need to have while living in your property.
Ancillary Services and Fees
The ancillary services that some property management companies charge for can be pretty extensive and detailed. For example, you might have to pay for the 1099s that are issued at the end of the year. The most important thing is knowing the gray areas of your property management agreement. Find out what will be charged for services outside of that scope.
Most property management companies even out at the end of the day. You need an advocate to protect you and your property. We take over properties that have been mismanaged, and we know it has a huge financial impact on you.
If you have any questions about management costs or Phoenix property management in general, please contact us at Phoenix Property Brokerage.