In Utah, there exist many property management companies, which may charge fees. If you have compared the fees charged on rental amounts on a monthly basis, whether a flat fee or a percentage, it is not enough to get a real comparison. Many companies dealing with Property Management Utah break up their fees to increase their income while saying that they are charging only 8-10 percent. But in reality, they are charging more that you will see after adding up all their fees.
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It has become important to understand the actual cost of property management in Utah. There may be different fees affecting the real cost of managing property by professionals. Let’s discuss.
The management fee
It is one of the primary fees that is charged by a company each month when rent is collected on your property. You need to watch out for things like being this fee taken whether the company takes rent or not? Or, is it only levied when your manager actually gets rent? There is a difference between both these things.
Tenant leasing fees
This fee is often levied by property management professionals in Utah, which is normally 25-50 percent of the rent for the first month. It is meant to cover things such as tenant procurement and lease signing. Make sure you know that not all property management providers charge this fee. This fee is seen by some as inspiring a property manager to have a greater rate of turnover or sign shorter-term leases.
Tenant administrative fee
This property management fee is charged to the renter each month and is generally between 2-5 percent each month. This adds to the rental amount of a tenant each month. This fee may not be revealed to the property owner by a reputed Property Management Utah since it is being levied to the renter and not to the owner.
Rental property marketing fees
Some companies will charge $0 and others will charge over $500 to fill your property. How much are they levying you to rent your place? Make sure you get full exposure on their website that people generally use, instate and out-of-state customers. Rize Property Management is a company that provides transparency in terms of cost. Hire them.
Company information
1600 S State St.
Salt Lake City, UT 84115
Call @ 801-210-7002
