From the Forum – Property Manager question

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Property Manager question

“Can anyone give me a really rough estimate of what a property manager costs in DC? I could try to get an online quote, but I’m really just curious how much I’m saving my landlord by doing the job myself. It’s a single rowhouse with 3 apartments. Thanks!”

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6 Comment

  • In my experience it’s something like 7% of rent. Usually less if the rent is really high. Some places also take an entire month of rent every time a new lease is signed.

  • anonymouse_dianne

    We are using Rent The District and they charge 8% of the monthly rent. They do a good job, getting an ancient home to pass inspection and keeping it rented.

  • Having just gone through the process (I called all over the DC area getting quotes)- 1 month’s rent, and then 7-8% of monthly rents. If you find a good smaller company that has availability, the 1 month’s rent can be reduced to a “renter finding” fee as low as $600.

  • for one condo, standard is 8% and you can probably negotiate 7%. For a single family home, it’s 10%. However, if you’re doing the whole building, a company would probably have a contract of like $20k + for a full year of management because it’s more than just collecting rent and such.

  • SilverSpringGal

    Nest DC – one month’s rent & 8% of monthly rent for condos

  • 7-8% of the rent to manage
    If they find a tenant, it’s one months rent but if you have them managing multiple places it may be only half a month’s rent
    Are you doing everything a pm does? Accepting rent, interfacing with tenants, arranging repairs, etc?

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