Finder's Fee
The "finder's fee" is a percentage (usually 8.33%) of the gross rent to be collected during the initial lease term and any renewals. This finder's fee covers the cost of things like photography, finding & vetting tenants, and signing legal documents. |
Management Fee
The "management fee" is typically between 8% and 12% of the rent collected each occupied month (nothing due if vacant). This management fee covers your specific management needs such as accounting, contractor coordinating, and 24/7 emergency contact. |