Monthly management fee
Start with the recurring fee for ongoing management. It may be a percentage of collected rent or a flat monthly amount. Ask if vacancy months are billed, if fees apply only to collected rent, and what routine work is included.
Tenant placement or leasing fee
The leasing fee covers work to prepare, market, show, screen, and lease the property. Ask when the fee is earned, if any tenant guarantee applies, and what happens if the tenant breaks the lease early. Do not assume a low monthly fee includes lease-up work.
Lease renewal fee
Renewal fees may cover rent review, renewal negotiation, lease paperwork, and tenant communication. Ask how market rent reviews and renewal recommendations are documented.
Setup, onboarding, and inspection fees
Some providers charge onboarding, initial inspection, or periodic inspection fees. That can be reasonable when the work is real. Ask what is inspected, if photos are provided, and how findings reach you.
Maintenance coordination and markup
Maintenance can be the hardest fee category to compare. Ask about coordination fees, vendor markup, in-house maintenance rates, after-hours fees, reserve requirements, and the dollar limit for repairs approved without your call.
Eviction, notice, and legal coordination fees
No owner wants to plan for a bad tenancy, but the agreement should explain notice preparation, court coordination, lockout process, attorney costs, and management fees during delinquency. Get the process before a problem exists.
Owner statement and accounting clarity
A management fee should buy clear reporting. Ask when statements arrive, what the ledger includes, if invoices are attached, when owner payouts are sent, and how year-end documents are handled.
Questions that reveal the real cost
- What services are included in the monthly fee?
- Which fees are charged only when the property is occupied?
- What lease-up fees apply for a vacant property?
- What maintenance fees, markups, reserves, or approval thresholds apply?
- What inspection photos or reports are included?
- How are owner statements delivered and when are funds paid out?
- What fee applies if I cancel the agreement?
Compare the real handoff
Put monthly fee, leasing fee, renewal fee, inspection fees, maintenance policy, cancellation terms, communication process, and reporting side by side. The best fit is usually the provider whose scope matches the owner workload you actually want to hand off.