Brittany:
Brittany and Hunter here again, with 10 questions that she should ask a property manager whenever you're hiring one. And so it's super important to not be fooled by companies that promise low monthly fees or a flat fee pricing system. It's imperative that you factor in all fees associated before hiring a property manager. So Hunter, can you go over Marchant Property's management fee system?
Hunter:
That's a good point that you bring up about fees because all of our fees were based on a percentage base, percentage of rents collected. One thing you need to be careful for, is the people that are charging that low flat rate fees. Let's just say hypothetically your property's inspected for three months. Guess what, you're paying the property manager while the house is sitting vacant, earning you no money.
Hunter:
So, we don't get paid a dime unless we generate rent for the owners. And we actually offer three different pricing programs. And they range from 8% to 10% to 12% and with that, the leasing fee, which is a percentage of the first month's rent collected is 50% on the 8% plan is 25% on the 10% plan. And it's only 10% on our all in 12% plan, which I would say probably 80% of our owners are on this plan. There's some other fees that may be associated with it and that would be for like professional photography, video tours and certainly inspections and stuff like that. But again, with our all in plan, the 12%, of most of those fees are already encompassed into that fee schedule.
Brittany:
Okay.
Hunter:
I would say we are very competitive in our area. As far as fees go. I think we have very similar fees to most of our competition. But what I would say, is I don't think that our level of service is quite on par with the rest of our competition. I think that you will find that if you hire us, that you'll find that our level of service is way superior to any of our competition. And we were very prideful in that.
Brittany:
Agreed. So, just make sure that you know all the fees associated before hiring a property manager and to not go any with anyone that charges a flat fee or a very, very low fee because they probably aren't going to be doing their job well and providing you with great customer service. So, remember to check on the fees before hiring a property manager.
