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Most property management companies charge a monthly fee of between 8% 12% of the monthly rent collected. If the rent on your home is $1,200 per month the property management fee would be $120 based on an average fee of 10%.
About Property Management in Rhode Island To start any type of real estate brokerage or property management company in RI, a brokers license is required. To manage property for a third party for a fee, a person must hold a brokers license or hold a salespersons license and be affiliated with a broker.
Letting Agent Property Management Fees In most cases, the letting agent will charge the landlord a flat fee or a percentage of the rent and for a fully managed service, they will usually charge between 10-15% of the rent, which they will take in monthly payments.
The property management agreement includes a comprehensive set of property management duties and responsibilities, including budget and reporting requirements, lease management, property repair, and maintenance.