Many property owners ask about the cost of property management in the East Bay area of California. There are a few things to look at when you’re searching for a professional property management company in Concord, and comparing costs.
Remember that costs will vary from company to company. Some companies will charge one flat rate amount for property management and another company might charge a lower amount, but then include a number of additional fees on top of that. All these costs and expenses should be negotiable. Really take a look at whether the company you’re considering is willing to negotiate with you on the price of a property management contract. Find out what you’re paying in addition to the property management fee. There could also be leasing fees, screening fees, marketing fees, renewal fees and lots of extras. Be clear about what’s included in the property management fee.
Maintenance costs are also a part of property management. When you have a clogged toilet or a sewer line backup at your property, the cost to resolve those issues will not be included in your property management fee, so you’ll have to budget for those as well. Always ask about hidden maintenance fees. Capital improvements, for example, might include an extra fee.
Quality of Service
Take a look at what you’re getting for your money and evaluate the overall picture. Sometimes we compare property management to plumbing. You get what you pay for. If you go cheap with your plumbing, you get cheap plumbing that will fail or not last that long. The same thing applies with property management. You want to get the most for your money.
Finally, consider the cost of not having a professional property management company. That’s the most important question you should be asking when it comes to money. Without a property manager, you could face a number of legal problems, maintenance issues and other expensive losses by doing it on your own. There are a number of hidden costs in not having a property management company.
If you’d like to talk more about how to evaluate the costs of property management, contact us at Total Property Solutions, and we’d be happy to help you.