DOES LUVANEX HAVE TO MANAGE THE PROPERTY AFTER PURCHASE?

Successful real estate investors understand that hiring a good property manager is more like an asset instead of an expense. 

The good property manager helps to keep rental property occupied year after year, increase return on your investment, and free up your valuable time so you can focus on growing your real estate business. 

DO WE HAVE TO MANAGE MANAGE YOUR PROPERTY AFTER PURCHASE?

No! This is absolutely optional. It all depends on the buyer’s choice, if you would love to hire us as your property manager which will come at an affordable cost.

HOW PROPERTY MANAGEMENT FEES WORK

Property management companies generally structure their fees in two main ways, as a percentage of the rent collected or a flat monthly fee:

PERCENTAGE OF MONTHLY RENT

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%.

If a property is vacant, we as a management company generally charge a fixed fee or a fee equivalent to the anticipated monthly rent once the property is leased to a new tenant. Vacant properties sometimes require more work from the management company, such as conducting weekly inspections for potential break-ins or the presence of squatters and also some renovation before a new renter is put in.

CONCLUSION

Are you still manually collecting rent from your existing tenants? Check out our rent collection, and book a session with us for easy and timely tenants pay, automate key tasks like deposits, receipts, and accounting.

FINAL THOUGHT

While it can be tempting to try and manage a rental property yourself, property management can take an incredible amount of time out of your already busy day. 

We all know that time is money. The time you’ll be saving by having a property manager handle the daily details of your rental property can be put to better use by analyzing ways to grow your real estate business and rental property portfolio.