One of the most frustrating things an owner can encounter when looking for professional property management is a confusing fee structure. At Blue Mountain Real Estate & Property Management, we try to keep things simple and easy to understand. Our goal is to provide the best products and services in Colorado Springs property management, and we do that for a competitive fee.
Most of the property management companies you’ll encounter will charge a percentage-based fee for both management and leasing services. Then, there may be a list of additional fees that you’re charged. We’re breaking those down in today’s blog.
Leasing Fees in Colorado Springs
Our clients appreciate the flat-rate leasing fee that we have, which is $250. This is one of the cheapest leasing fees in town, and you don’t sacrifice any services. The leasing fee includes our agent referral fees and the effective and individualized tenant screening process we use to place the best possible tenant in your property. We don’t spend a lot of money on marketing because most of the advertising we do is on our website, and your listing is immediately syndicated from our site to over 80 of the most popular rental websites that good tenants are using to find homes. Many local property management companies will charge you a full half month’s rent. We can manage the leasing process more efficiently, and that saves you money.
Property Management Fees in Colorado Springs
While the leasing fee is a one-time fee while your property is vacant, the management fee is paid every month, and it’s usually deducted right out of your rental earnings. Our management fee is 10 percent of the rental income we collect for you. It’s competitive and a huge value when you consider the management services and the professional expertise you’re receiving in exchange for that fee.
Read the fine print of your management contract before you sign it. If you find a company that charges a dramatically low management fee, there’s probably a reason. Either you won’t receive high quality property management or you’ll end up paying more in the long run with the list of additional fees and extra charges that will apply.
Additional Management Fees
Some property management companies will charge extra fees. We don’t do that at Blue Mountain. However, with other companies you may find things like administrative fees, account set-up fees, technology fees, inspection fees, maintenance mark-ups, and accounting fees. A management company may charge you every time you have to serve a notice or contact the tenant. These can be really cost-prohibitive, and it’s unlikely that a management company will be completely transparent about these extra costs in the beginning. All of these fees are unnecessary if you’re providing an outstanding product for a fair price.
We walk all of our potential customers through the management agreement so there are no headaches and no surprises. You’re hiring us to help you earn more on your investment property; we think it’s unwise to nickel-and-dime you to death in management fees.
Please contact us at Blue Mountain Real Estate & Property Management if you have any additional questions about management fees or how we can help you manage your Colorado Springs investment property.