Property Rental Management Fees

Started by RobertV3 • 1 replies • 1047 views

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RobertV3 (Michigan)
Posts: 2

Posted:

Is 50% of gross profit excessive for rental managemnt of a condominium. I am a member of a HOA and according to the association By-laws I can only lease my unit through the developer or a leasing agent designated by the developer. Any suggestions?

JosephW (Michigan)
Posts: 882

Posted:

Robert,

I talked to a manager friend in northern MI who also manages single units. 50% seems to be the going rate, with minor variations. As for leasing through the developer or approved leasing agent, apparently this was part of the deal going in, so you may be stuck with it as long as the developer is in control. I would suggest you check with other local management companies/leasing agents to confirm.

Joe

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