Property management fees in Tampa

Fees vary by company. At Versaggi Management, full service management starts at 10% of the collected rental income.

Managers usually combine a recurring management fee with a charge for finding a tenant, and some add renewal, onboarding or maintenance charges. Ours are $300 for each new lease, $150 for a renewal lease, a one-time $100 onboarding fee collected in the first month, and repairs at cost plus 20%. Direct deposit of your net income each month costs nothing extra. Ask each company for every fee in writing before you sign. Our management agreement lists every fee.

Many managers set the monthly fee as a percentage of rent, and others charge a flat amount.

At Versaggi Management, full service management starts at 10% of the collected rental income, and the percentage is reduced depending on the number of rentals you have with us. Because the percentage is only one line, read what it covers and what is billed separately. Ask any company for the percentage and every other charge in writing. The 10% covers anything that comes up during the term of the lease: advertising the property, handling rental inquiries, showings, underwriting applications for credit worthiness, criminal background checks, verifying income and prior tenancy, generating the lease, collecting the security deposit and rent, and ongoing dialog with the tenant. Nothing is charged to the owner while a home sits vacant, and there is no minimum monthly fee.

Leasing is usually a separate charge for marketing the home, screening applicants and signing the lease.

At Versaggi Management the $300 per new lease is a commission that pays the agents who find the tenant, Realtors included. Ask any other company exactly what its leasing charge covers, and compare it with ours. The percentage and the leasing charge are separate lines, so compare the dollar total across a full year of rent, not just the percentage.

A lease-up fee is the charge for finding and placing a new tenant, and it varies between companies.

Some managers price it as a share of the first month's rent and others as a flat amount, so compare the dollar result for your own rent. At Versaggi Management it is $300 per new lease, and a renewal lease is $150, which pays our agent to negotiate with you and the tenant and prepare the new lease. Ask whether renewals carry a separate charge, since a tenant who stays for years renews more than once.

Repair bills are normally paid from the rent collected and shown on your monthly statement.

At Versaggi Management our own skilled staff do most home repairs, including electrical, HVAC and plumbing, around the clock, which avoids the higher cost of outside vendors. Repairs are billed at cost plus 20%, you set the repair amount above which we notify you first, and the bills are paid and itemized in your monthly report. Ask any manager whether it adds a markup to repair invoices and who approves the spending.

Versaggi Management's Property Management Agreement includes a 30-day termination clause, and there is no fee for ending it.

Notice is given in writing by certified mail, 30 days before the end date, and we then confirm it with you. Some managers charge an exit fee or tie owners to a long term, so ask any company whether the agreement can be ended early, what it costs and how many days of notice it needs.