Is the local property management company offering you a percentage of your rent as a management fee? Don’t get into that scheme.
Rentomatic offers a flat fee with no hidden charges.
We studied the competition and analyzed the needs of owners, then built a flat-fee pricing strategy to earn their business regardless of the size of the house and the rent amount. It’s a turnkey system designed to decrease property management fees and leasing fees, which increases our owner’s bottom line.
Flat fee property managers charge one fee that covers all of their services. Their rate is not dependent on the amount of rent the property brings in. These fees are simple, easy to understand, and ideal for first-time landlords who don’t want to be hit with big surprises.
Why Using A Flat Fee Property Manager Is A Smart Move
The whole idea behind hiring Rentomatic Property Management Company is to cut down on the responsibilities associated with owning a rental property while still reaping the rewards. A property management company is responsible for screening tenants, collecting rent, scheduling work orders, staying up to date with taxes and accounting, and being knowledgeable about landlord-tenant law. They do all of this so that you don’t have to, and many landlords agree that paying the management fee is well worth the time and energy it saves them.
Some property management companies charge a flat fee while others use a percentage based method. There are a few reasons why so many Utah landlords go with a flat fee property manager to handle the everyday responsibilities of their rental:
Property management companies that use a percentage based method may tell landlords what they can expect to pay for property management services based on the current rent, but if the rent changes, so does the property management fee. This can make it hard for landlords to maintain a budget for their rental property.
One of the draws to real estate investment and property management is that you do not have to buy investment property in the same area in which you live. Your property manager will take care of the property when you are not there to do so. A flat fee property manager will charge the same amount for servicing a property in a C class areas as they do in an A class area. This means landlords are free to invest in the types of properties that make sense for them without having to pay more for property management services.
Property management companies that use the flat fee model are typically more landlord friendly than those that use the traditional model. The flat fee model does not penalize landlords for making money and allows landlords to stay in control of their investment budget.
Many landlords find it well worth it to leave these responsibilities up to the professionals and report that paying a flat fee for the peace of mind that their home is in good hands and that rent is flowing in is well worth it.
There are no hidden extra costs at Rentomatic
Factors That Influence Property Management Cost
Size of Rental Property – Managing a larger rental property involves more work than managing a smaller rental property, so the fee collected will be larger.
Type of Property – Property managers can manage all types of investment properties, including single-family homes, multi-family properties, commercial properties, and even vacant properties.
Condition of Property – Newer properties, or older properties that have been renovated, may have fewer maintenance issues than older properties.
Location of Rental Property – Property managers may charge more to manage properties that are in areas that command higher rents and lower fees to manage properties in areas that command lower rents.
Extent of Services – The services that the property management company provides play a large role in how much they charge. If you are only hiring a property manager to collect rent, you will pay much less than someone who wants a manager to collect rent, fill vacancies, handle repairs, handle tenant evictions and keep financial records for your taxes.