Property Management Blog

Property Management Fees in Tampa, FL

by SuperUser Account on Tuesday, December 13, 2011 12:59 AM
In the current housing market, many Tampa area homeowners who must relocate are facing the decision of whether to attempt the sale of their current home, which could result in a sale well below the price that was paid for the home, or to use their home as a rental property.

Often homeowners wonder whether renting their home is feasible if they are relocating to another state, where they would be unable to interview potential tenants, check on the condition of the home, or supervise maintenance and home repairs. However, all of these items can be delegated to a Tampa property management service for a fee that covers the advertising, leasing and maintenance of the Tampa property.  Here are a list of common fees associated with property management in Tampa:

1. Advertising Fee: When the Tampa homeowner requires assistance to find a tenant, the property management company will bill for expenses incurred in marketing the home for rent, such as: printing flyers or brochures, making signage for open houses, and listing the property for rent on the MLS.

2. Lease Set Up Fee: If the Tampa property management service finds a tenant for the property, some companies will assess a fee, up to the amount of the first month's rent, which will be subtracted from the tenant's rent payments processed by the management company with the remaining sent to the homeowner. This fee covers home showings to prospective tenants, as well as processing applications and the screening process.

3. Maintenance Fees: Tampa property management services offer periodic maintenance inspections, as well as the hiring and supervision of contractors in the event a repair is required. The management fee is typically charged on a percentage basis based upon the cost of the work.

4. Lease Renewal Fee: If a lease is due for renewal, the property management company may charge a fee (typically between zero and $200) to process the renewal paperwork.

5. Early Termination Fee: In the event the homeowner needs to cancel the property management agreement, the property management company may assess an early termination fee, up to $500, to recoup their costs in marketing the property, tenant placement, and supervising the maintenance of the property.

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SuperUser Account

Tampa, St. Petersburg, Clearwater Florida MSA Property Management Blog

2 comment(s) so far...

Anonymous 5/29/2012

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Anonymous 7/6/2012

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