Dallas Fort Worth Property Management | Understanding the Fees

With the foreclosure crisis expected to drive 3 million homeowners into the rental market in the near future, many investment property owners are turning to Dallas Fort Worth property management specialists to deal with the increased demand. When you work with one of the DFW property management companies, they will be managing some of your most valuable assets. As such, it is important to have a good understanding of the fees that they charge:

• Management fee. The main fee that Arlington, TX property managers charge for their services is called the management fee. This is a monthly percentage of the rental price of your property, varying from as low as 4% to as high as 12% depending on the market. Depending on the number of Dallas house rentals you have in need of management, your property manager may charge you a higher or lower fee. Not all Arlington, TX property managers include the same services under their management fee, so a higher management fee is not necessarily a bad thing. Be sure to clarify with your property manager the exact nature of the services they will be providing.
  
  
• Vacancy fee. With vacancy rates in the US declining to record lows, vacancy fees are becoming a thing of the past. Some property managers in Arlington, TX charge vacancy fees to cover the cost of managing Dallas house rentals when there is no one living in them. As it is the core responsibility of providers of property management in Arlington, TX to see that your property is occupied, be wary of vacancy fees that seem higher than normal.
  
  
• Leasing fee. In addition to the management fee, the leasing fee is the second main fee that property managers in Arlington, TX typically charge. Leasing fees are designed to compensate property managers for the time, effort, and expenditures required to fill a vacancy on your rental property. Not every property manager will charge a leasing fee; some prefer to incorporate it into their management fees. Here are a few questions you will want to ask about the leasing fee:
• How much is the leasing fee? Leasing fees typically hover around 25% of the first month's rent, although they can climb higher.
• Will the leasing fee decrease if there is an extended vacancy? Make sure you won't have to cover the leasing fee if it takes an extended amount of time for your property manager to find a resident.



• Account setup fee. When you sign a property management contract, your property management company may charge an account setup fee. Account setup fees can range anywhere from $50 to $300 depending on the property manager.

With more homeowners facing foreclosure, the demand for rental property is expected to rise steadily in the near future. When making the decision to work with a company providing property management in Arlington, TX, it is important to have a good understanding of the fees they will charge you for your services. If you have any more questions about property management fees, talk to a OneProp DFW property manager today.