New landlords are often uncertain about how much a property manager costs and lean towards doing it themselves to save money. However, while self-managing may reduce some of the cost in theory, few consider the opportunity cost of how much personal time, stress and administration is needed – especially the steep learning curve. When you get the right property manager, you’ll have a better chance to get market rental rates and properly qualified tenants. This secures a stable rental income that ideally covers your property management costs.

So, what do we charge? There are upfront and ongoing costs that come with property management, though many of these would be costs you’d incur anyway – with the extra cost of having to do the work yourself. Initially of course you’ll have to pay for things like advertising and photography for online and print listings of the property. There’s also usually a letting fee and a lease preparation fee that covers the administration of a new tenancy being implemented – these don’t usually get paid until a tenant has been secured. Other upfront costs may be compliance or safety related, as well as any necessary repairs and maintenance to get the property tenant ready. Once that’s all done though, your only outgoings will be the ongoing property management fee, which we’re happy to go through with you in detail before you sign with us.