Blog

Registration Open for FREE First Time Homebuyer Class
By Peta-Gay
December 28, 2014

Join Property Locators LLC™ to learn the ins and outs of navigating the home buying process.  A team of specialists are assembled that will include a loan officer, title company, home inspector and of course real estate agent that will  share step-by-step tips with attendees on how to purchase their first home.

WHEN: Saturday, January 24, 2015

WHERE: Southeast Library – 403 7th Street SE Washington, DC 20003

To register please send attendee name, address and contact information to agent@properylocatorsllc.com or 202 683-0158

 

I look forward to working with you to ensure your dream of homeownership happens in 2015!

What is the Typical Cost for the Management of a Property?
By Peta-Gay
December 1, 2014

Property management services can be broken down into two phases…leasing and monthly management.

The typical leasing fee for the Washington, DC metropolitan area is generally the same amount as first month’s rent and includes advertising, showing the property, locating a qualified tenant, screening the tenant and the moving in of said tenant etc.

Monthly management services general costs anywhere from Eight to Twelve percent (8-12%) in the Washington, DC metropolitan area. This fee usually covers  the administration of an appropriate lease that protects the rights of the landlord, hiring contractors to provide maintenance and improvements to site (service costs are paid by property owner), keeping the property in compliance with area laws, day-to-day tenant relations including collection of rents/fees and providing owner with financial and property summaries.

Most companies that provide property management services also provide leasing services and vice versa however if a property is already leased an owner can choose to only use the monthly management option. 

Hopefully, this break down of the typical fees for property management services was useful to you. Here’s to a stress free life as a “landlord” and continued growth in the success of your endeavor.