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How much will the property company charge me to rent out my house for me?

I would like to rent out my house but I'm not sure if I'll be able to find decent Responsible tenant to rent to
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August 24 2010 - US
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A starting point for having a real estate agent locate a tenant for you will average around one months rent.  The management company can run credit checks, background info, and any other type of information you might request.  After finding a tenant you might consider a property management company.  An average amount a property management company would probably be around 10% of the gross rent.  The percentage includes the cost to receive payment from the tenant, forward the rent to your account, and repair the property as needed.  With a property management company, you should never have to contact the tenant.  Everything will be taken care of for you.
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August 24 2010
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how can i actually find this real estate agent to do all of this for me? candicelora77@yahoo.com
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November 28 2011
Well, you can either pay the fee for the  Real Estate office or the rental office can also charge the tenants. Fees are usually 15% of the yearly rent (NYC) Sometimes, when homeowners don't pay the broker's fee, some companie's will just rent anyone your property just to collect the fee. I suggest you make the low investment and pay out of pocket. it will save you a lot of headaches tryng to get the tenants out in court.
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September 07 2010

A fee equal to one month's rent is standard. For this fee, you should require all showings and advertising, background checks,and an adequate lease. This should all be formalized in a written and signed rental agreement. Management of the unit should include scheduled inspections, rent collection, and maintenance issues. Try to find a reputible company that charges a flat fee as opposed to a percentage of the rent.

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September 07 2010
In my market the typical fee to market and find a tenant for a rental property is equal to one month's rent.  Some agents charge the full month's fee to both the landlord and then again to the tenant if they don't have their own agent.  Some charge half a month's fee from both the tenant and the landlord.  Management company's aren't as common in my market so I can't speak to those additional charges for full property/tenant management services.  My landlord clients do quite well managing their tenants from afar - because I find them excellent tenants.  The key is finding the best tenants and keeping them. That's where we work hard for our fees.
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September 06 2010
Profile picture for bhattara
I have just started renting my condo. First the charges are 7-10%. The question is more what to pay but what you want. I was with a former company FBS. I really would not recommend them. They took over and wanted to do all these things to my own house and then questioned my judgement when I some hesitation. They then charged all these fees which were baseless. Now I have a dedicated agent. She is much cheaper. Also what she does when things needs to be done is she arranges the contractor and then I pay the bill. This was what most property managements do but they get a cut or upcharge for this. Anyway it can take time and work. Dont think it will be easy money
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September 05 2010
The key is to make appointments with several agents that have a strong presence in your area for rentals. Interview them, ask what background checks they perform to qualify tenants, and most importantly, do you have to take the tenant they bring you.

A good agent will perform: credit, criminal background, employment verification, rental history, and eviction search. These should provide you with enough information to make a sound decision on whether to accept a tenant or not.

For tenant location, fees usually run around one month's rent (depending on what you agree upon). If you want full property management, add an additional 8-10% per month. Again, ask agents that work specifically in your neighborhood for their input, then go with the agent that gives you the best marketing ideas and allows you to be involved in the process.
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September 01 2010

What you have to do is your homework get rental applications have them sign, check credit and background to make sure this is the type of person you want living in your home. Remember a lease is usually for a year in TX. thats a long time commiment.

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August 31 2010
It depends on your location and state. In southern California companies will normally charge between 7% - 10%. A few may charge less and a few may charge more, but 7% - 10% is what you can normally expect to pay for a property management company.
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August 30 2010
Most realtors or property management companies will charge initially one months rent for find a tenant for you. The propety manager...or company will charge somewhere around 10-15% of the monthly rent.....whatever you negotiate
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August 27 2010
 
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