Wondering how much it costs to hire a full-time property manager is a perfectly legitimate question? After all, you do want to understand what you’re paying in terms of services offered and how paying someone else to manage your property is beneficial to you, the investor, when it’s something you can always do yourself.
Again, you do have two choices:
- Manage the property yourself, acting as owner and landlord at no extra cost.
- Hire a property management company to act as the landlord for you, costing a negligible amount of money but saving you a lot of time and effort.
Looking at those choices, and thinking about all the time it takes to act as a landlord, might make choice number two seem like the obvious one to make. But there’s still that word “cost”.
You may think it may cost a lot of money to hire a property management company. But it doesn’t. Not when you take into account the amount of time you’re saving by not having to worry about the day-to-day business of being a full-time landlord. In addition, being able to delegate that responsibility to us at Melrose Realty will free you up to focus on other things while we work hard to maximize your profits on your investment.
In short, investing in Melrose Realty to manage your properties is an investment in your freedom.
Property Management Cost in OKC & Edmond
The cost of hiring Melrose Realty to be your full-service property manager is proportional to the amount of properties you’re looking to have us manage. The cost percentages are the sum of the value of rent after payment. So:
- Properties 1 – 9 cost 10%
- Properties 10 – 19 cost 9%
- Properties 20 – 29 cost 8%:
- Properties 30 – 39 cost 7%
- Properties 40 – 100 cost 6%
For example: 3 properties at $1000 rent each will carry a $300 fee to manage all three.
The more properties you ask us to manage will drive down the cost percentage.
No, this isn’t a pitch to encourage you to invest in more properties for us to manage. This is only an illustration of how your costs per property go down the more you include under our umbrella of properties to manage. No matter how many properties you have, the same level of attention and quality service will be afforded to them all.
What Melrose Realty Will Provide for You
Melrose Realty manages over 400 properties throughout Oklahoma including Edmond & Oklahoma City. Whether they’re residential, multi-family, commercial (Office & Retail), we handle them all. And as noted above, our costs aren’t based on the type of property, only on a percentage of the sum of the rents paid.
Our job is to fill vacancies, minimize rental turnover time, and encourage residents to remain tenants for years to come. We do this by providing a quality, one-of-a-kind service to both client and tenant.
By treating each property with devoted attention and care, investors and tenants remain satisfied, allowing communities to thrive and prosper.
But what does full-service property management mean?
Our property management practices consist of:
- Property Marketing
- Creating and Executing Leases
- Scheduling and Executing Inspections
- Vetting Potential Tenants
- Collecting Rent
- Scheduling and Executing Routine Maintenance
- Handling Emergencies Effectively and Efficiently
We are your one-stop-shop for anything related to property management throughout Oklahoma City and Edmond.
Rental Rate Tools
When it comes to the rental rate, it’s always your call. With our Rental Rate Tool, you’ll be able to see actual rental rates for properties similar to yours. This will allow you to make a rate decision that remains competitive but also helps fill vacancies faster.
Is Hiring a Property Manager Worth It?
Or, to put it another way, does investing your money in hiring a property management company improve your overall return on investment in your property?
The short answer is yes, if you’re hiring Melrose Realty. It may sound self-serving, but it’s true.
Another thing to heavily consider is how much your time is worth to you in the long run
Hiring Melrose Realty to manage your properties gives you something you won’t have if you take on the full-time role of landlord on your own: your own time. By hiring us, you’re making an investment in your time. Time that’s better spent on things other than managing the day-to-day operations of your properties.
Lastly, we understand how hard it can be to manage a property without help. With Melrose Realty, you’re hiring not an individual but a team. A team that’s focused on maintaining your property, keeping it occupied by happy tenants, and making sure you’re getting the best profits possible out of your investment, both in the short and long term.
Ready to call? Contact us with any questions you may have!
