Re: property management company costs - Posted by Nate(DC)
Posted by Nate(DC) on August 26, 2003 at 23:11:59:
“How can I determine these fees.”
The easiest way would be to shop around by calling some property management companies that manage the type of property you are thinking of managing, and posing as a property owner and asking what they would charge.
"is it something that would be worth while? "
Only you can answer that for you, based on your own life situation and career goals. Some people like property management. Others don’t.
“Can I ask for a fee up front such as a retainer fee?”
Sure, you can ask for a fee, but that doesn’t mean you’ll get it.
One thing I will caution you on, however, is that depending on what state you are in, a real estate sales and/or broker’s license may or may not automatically confer the right to manage property. For example, in DC, which is not a state, but is where I am from, there is a separate property manager’s license which anyone can get to manage property for another for a fee. It doesn’t matter if you have a real estate sales or broker’s license - in fact, you don’t HAVE to have either to get the PM license - it’s a separate license and just having the real estate license doesn’t allow you to act as a PM.