What Fees Do Property Management Companies Charge in BC?
In BC, Canada, most property management fees range from 8% to 12% of your rental property’s monthly income. Average property management fees are around 10%.
That means if you’re renting your home for $2,500 per month, you’ll pay around $250 as a monthly management fee.
The cost of professional property management will depend on the property management company you choose, the properties you own, and the level of service you’re receiving.
When you pick a property management team, make sure you’re not simply measuring one company’s price against another company’s price. You have to compare the property management services to measure the value you’re receiving.
If you find a dramatically low property management cost, it’s probably because you’ll have to pay extra for the services you actually need.
At Vantage West Property Management, we’re completely transparent about our fees, and you won’t find any hidden costs in our management agreement. Our fees are competitive and more than fair when you consider the value you receive in exchange for them.
Since launching our firm in 2018, we’ve become a top-rated Kelowna property management company with 3 consecutive Consumers’ Choice Awards for best property management.
Investing in Professional Property Management
At Vantage West, we understand that property management is an investment. You are handing over the management of an asset or multiple assets that are worth hundreds of thousands of dollars or more.
You want to make sure you’re putting that property into the hands of professional that you can trust to maintain a steady flow of rental income – without having to deal with surprises, repairs, or high rates of turnover. Don’t just look for the lowest possible price tag, as you might end up earning less from your rental property in the long run.
At Vantage West, we charge 10 percent of the rent we collect in our management fees. This covers our full range of property management services, from collecting rent to managing maintenance to enforcing your lease and responding to the needs of your tenants and your property.
For this fee, you get peace of mind, you get your time back, and you get some of the best management advice from a team of professionals who are real estate investors themselves. The value this provides to your short term and long term investment goals is hard to quantify. You can expect a better return on investment (ROI), better tenants, and a better rental experience.
We offer discounts that go as low as 8 percent of your monthly rent when you own property portfolios with multiple doors. The more rental properties you have, the lower your management fee becomes.
Investing in Leasing Services
Your property management fee will be paid every month. The leasing fee is a separate one-time charge that ranges from half of the first month’s rent to the full month’s rent. It depends on the type of rental property you’re bringing us and whether there’s one unit to fill or an entire building.
With the tenant placement fee, you can be sure we will fill your vacancy quickly. We’ll market the home, manage the showings, and conduct a thorough tenant screening. The entire leasing process will be handled by professionals, and you’ll be left with a well-qualified tenant who pays rent on time and takes care of your home.
Comparing Fees and Services
As you consider your property management options, you’ll see leasing fees that are all over the place. You’ll run into flat fees as well as percentage fees. You’ll also find a long list of additional fees that some property management companies charge. You might have to pay administrative fees, start-up fees, technology fees, and even fees every time a notice is served or paperwork is filed. There may be accounting fees and lease renewal fees and inspection fees.
Every company is different. Just make sure you’re not surprised by fees that you weren’t told about before you signed the property management contract. Look for a company that’s transparent and willing to show you how you can benefit from paying those management fees.
Vantage West Property Management
Top-rated Okanagan Valley Property Manager
We’d love to tell you more about what we can do for you. Please contact us at Vantage West Property Management for any details about property management costs and how you can get the most from your rental property.