96: Rookie Reply: How Much do Property Managers Charge?
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This week’s question comes from Lisa) on the Real Estate Rookie Facebook Group. Lisa is asking all about property management this week: **I’ve never had a property manager, what are the responsibilities of one? I was recommended a manager and was told he charges 10%. What is the average pay for a manager? What questions should I ask when I speak with him? **

While there is no standard on fees or responsibilities across all property managers, they tend to follow certain averages. Both **Tony and Ashley have hired property managers as well as **self-managed), here’s what they’ve found through their experiences:

Use your property managers as a means to find out more about a market

Property managers not only are** in contact with your tenants**, but they’ll also** issue repairs and contractor bids when needed** 

If you’re new to real estate, it’s useful to have a property manager) who can help educate you

Property management** fees**)** are around 10% (of rent) a month**, but can be as low as 5%

Property managers will also **charge fees for filling vacant units or **performing maintenance)

Ask about fees, thresholds for maintenance, and their experience with local investors

And more in the episode…

If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group)! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).

Check the full show notes here: https://biggerpockets.com/rookie96

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