Our Property Management Fees & Rates
We're dedicated to keeping property management affordable
We Only Charge Three Transparent Fees:
1. Monthly Management Fee
Our competitive management fee varies depending on the number of units you have with Bay Property Management Group. We have some owners who pay 3% and other owners who pay 10%. Typically our management fee falls between 5-8%.
2. Leasing Fee
When we place a tenant into your vacant unit, we charge one month’s rent to lease the unit. This fee is NOT charged upfront and only happens once the tenant has moved in.
3. Lease Renewal Fee
Our lease renewal fees typically range from $100-$299, depending on the specific area and jurisdiction.
Our Most Frequently Asked Questions
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Do Property Management Fees Cover Everything?
Your monthly property management fees include:
- Dedicated property manager
- Rent Collection
- Tenant management
- Maintenance coordination
- Compliance & licensing coordination
- Financial reporting
- Eviction management
- Read more about typical property management fees
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How Are Tenants Chosen For My Property?
In accordance with Fair Housing guidelines, Bay Property Management Group thoroughly screens each applicant to review credit and criminal background as well as rental history and income & employment verification.
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Can I Set The Rental Rate For My Property?
The leasing department at BMG will conduct a comprehensive rental analysis of your property and nearby rentals to recommend a rental rate to ensure maximum ROI.
Rental rate recommendations consider location, amenities and the overall rental market at the time of listing. It is the owner’s choice as to whether or not to following our recommended listing price.
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Who Pays For Maintenance And Repairs?
Depending on the cause of the maintenance issue, either the owner or tenant are responsible for maintenance costs. Your property manager will assist in determining cause and provide quotes for repairs.
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Can I Do My Own Maintenance Work?
Yes, however we highly recommend that you use our in-house technicians or our network of licensed professionals. Not only do we contract the best possible rates, but we manage the project and hold our contractors accountable for their work.
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What Happens If My Tenants Don't Pay Rent?
Your dedicated property manager will work efficiently to either get your tenant caught up or begin eviction proceedings. You only pay management fees for rent collected – we don’t get paid until you get paid.