Real estate fees for rental management?

[Darkclothes]

I'm aware many on MN hate landlords. DH and I have been living between our flat and a derelict house which we've been renovating for the last 3 yrs. We are now able to rent out the flat.

1 real estate is asking 10% of each months rent for 12mths, then down to 5%. Is this a normal/common fee structure?

Thats cheap. One of our lcoal agents charges the whole of the first month and then 12.5% + VAT for every further month (Rural West Wales)

We pay 9% for 1 flat and 10% for the other (both including VAT). Initial fee was around 2 weeks rent. Both are full service, north went England.

What does that include?

do they have good contacts to provide any maintenance required promptly at a good price?

I pay 10% plus VAT but the company are brilliant and worth every penny as they look after most of the flats in the development mine is in, and they really go to bat for the building.

For managing a large portfolio, like 800 homes, a 10% fee for the first year and 5% afterward is generally considered a common structure. However, fees can vary depending on the services provided, such as marketing, tenant screening, maintenance coordination, and overall property management. It’s always a good idea to compare different agencies and ensure the fee aligns with the level of service you expect.

Be aware now that agents won’t be able to charge for renewals (which makes in average 27% if their revenue) after May 1 they may increase the monthly charge!

Yep seems cheap - check what is included! I was quoted 15-20% for full service management in London (KFH, Foxtons and an independent). Plus ridiculous charges every time they actually do anything.

Real estate?are you in the USA?