Property Management Fees: What You Need to Know

When you’re looking for a property management firm to manage your investment, you may be curious about regulations and associated fees – specifically what they cover and the total costs. Much of this depends on the type of property you own and the services your interested in. Not sure what works for you? Take a look at our property management services and breakdown fees and see what works best for you.

What Do Property Management Fees Cover?

At CEPM, no matter the property we always assign each building a primary Property Manager. They are accountable and responsible for daily operations and conduct weekly meetings with key staff members to follow up on any needs or challenges.

Our Senior Management team reviews all property issues using custom designed property management software to gather information needed to make the best decisions for your investment. Also, we always have staff members available for off-hour emergency calls, so tenants are always able to reach us.

We also offer customized management services that are specific to your type of property:

Rental Properties

Your condominium or rental property management fees include the following services:

  • Rent collection.

  • Payment of property tax, maintenance costs, condo fees, etc.

  • Cash flow management.

  • Financial reporting and bookkeeping.

  • Open communication with tenants, including “Meet the Manager” events.

  • On-call services and dispute resolution for tenants.

On average, the property management fee for these services is between 8% - 12% of the rent of the building. However, other building factors and circumstances may contribute to increased fees. We create personalized property management proposals for all of our clients. You can request a proposal today.

Commercial Properties

Property management fees for industrial or commercial properties cover many types of services, including:

  • Finding new tenants and collecting rent.

  • Payment of commercial taxes, local taxes, and other fees.

  • Parking lot maintenance, including snow removal.

  • Renovation, maintenance and repair costs.

  • Bookkeeping, cash flow, including monthly reports.

  • On-call services and open communication with tenants.

Other Property Management Services

At Central Erin Property Management, your property fees also go towards several other services to keep you up-to-date with your property. We provide you with printed newsletters and a calendar of upcoming events. We also send out regular email blasts to keep you up-to-date on daily activities. Furthermore, we keep tenants and residents in contact with one another, setting up Facebook pages where they can comment, express their concerns or just keep in touch with their neighbours.

The Difference is in the Details

At CEMP, we manage 47 different properties but still keep the values of a family-run business. We offer a hands-on service that cares for your investment and properties needs. Whether it's a small project or a special circumstance, we take every detail into account when creating your property proposal. To learn more about property management fees and services, contact us and request a proposal today!