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lfshadow

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Posts: 6
Reply with quote  #1 
 

I have a commercial building being leased as a restaurant (in TN). I am thinking about hiring a property management company, but I don't need most of the services they offer. I only need them to collect rent and find a new tenant when needed. (No maintenance, repairs, cleaning, hooking up utilities, etc.)

The going rate for FULL SERVICE property management is 10% of the rent. How much should they charge for Partial services?


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H L Fowler
oddy1113

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Posts: 23
Reply with quote  #2 
These include the fees paid to external and internal investment managers custodians and asset consultants .


Eulogy
Marytmary1978

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Posts: 445
Reply with quote  #3 
Most commercial leases are written such that the tenant has to pay for maintenance, repairs etc.  sounds to me like 10% --- 
lfshadow

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Posts: 6
Reply with quote  #4 

"...sounds to me like 10% --- "

Are you saying that 10% is a reasonable fee?

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H L Fowler
avrilcory

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Posts: 7
Reply with quote  #5 
If you want to buy property, while property management fees are important they must be viewed in light of what other firms are charging, the scope of services provided and the quality of those services. There are various agents who give you loan to purchase land on which to build a rental property or to finance renovations to a property you intend to rent out, the interest on the loan will be deductible from the time you took the loan out.


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IsaacAnge

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Posts: 13
Reply with quote  #6 
Well this sound impossible cause some property management company give all those services and it is written in their contract or term and condition ,in Finland where i am an owner too of an vapaata toimitilaa or free office for rent i never been hire some property management i mostly do it by my self cause aside from being a owner i am also a real estate agent and looking for person who gonna rent for the office.
OHlandlord

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Posts: 3,734
Reply with quote  #7 
Most property management companies have 2 fees that are due.  One fee that pays for advertising, screening, and signing a lease to place a tenant in a unit, and another to manage that unit monthly.  Placement fees range from 1/2 to a full month of rent.  Management fees are normally 8-10% of the rent.  You only want placement so it would cost you 1/2 to a full month of rent.
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