Paying property management fees for someone else to manage your rental property can save you time and money. Management fees are typically between 4% and 10% of gross monthly rent, plus fees. Some companies charge a flat monthly rate of $100+. Fees include advertising, screening tenants, handling leases, coordinating repairs, and responding to tenant emergencies….
About the Author
Melanie Patterson
Melanie Patterson, MA, CBA is a staff writer at Fit Small Business specializing in Real Estate Investing with over 25 years of combined experience in real estate sales, property management and residential buy-and-hold real estate investing. In addition to managing her own property, Melanie has also managed a women’s emergency shelter.
Before joining Fit Small Business, Melanie worked as a certified business advisor for the New Hampshire Small Business Development Center, a discretionary program of the US Small Business Administration and owned and operated a private home-based business as a business development, sales and marketing coach.
When not writing for Fit Small Business, Melanie is in her gym training five days a week as a competitive natural bodybuilder, hiking and kayaking on the many mountains and lakes in her region, and planting a small vineyard, and flower, herb and veggie gardens on her 13.5 acre farm in rural NH where she lives with her husband, David, and their 17 year-old Jack Russell Terrier, Oscar.
Fix & Flip Loans: The 6 Best Fix & Flip Financing Options
Fix-and-flip loans are used by short-term real estate investors to purchase and renovate a property before flipping it for a profit. This type of funding for flipping houses offers investors fast closings for properties in any condition. The most popular type of fix-and-flip loans are hard money loans. LendingHome offers fix-and-flip loans to investors with…
What Does a Property Management Company Do & When to Hire One
Property management companies are great for investors who want to be less hands-on or who live far from their rental properties. What a property management company does to help investors is they manage the day-to-day operations of rental property. Depending on the property, management companies typically charge between 4% and 10% of gross monthly rent….
Rental Property Maintenance: The Ultimate Guide
If you want to make money owning and renting out real estate, it’s important to take care of your rentals. Rental property maintenance is a key part of managing your portfolio and protecting property values. Rental maintenance is typically divided into five main areas including interior and exterior maintenance and move-in/move-out maintenance. Be sure to…
How to Buy Multiple Rental Properties in 7 Steps
Figuring out how to buy multiple rental properties doesn’t have to be daunting. Implementing a system that includes projecting, planning, and building the right team will help you create a steady stream of deals. Then understanding how to finance multiple rental properties will allow you to quickly build a strong portfolio. If you’re interested in…
