The Hidden Fees of Property Management: What You Need to Know in Salem, Oregon
Mendell Gosnell - Thursday, February 26, 2015
In this blog, we will be talking about hidden fees in property management. There should be no hidden fees when you work with a property management company. Everything should be disclosed and transparent. However, to keep fees down, some companies do strip out a lot of their services and build those back in as extras. Sometimes that’s not necessarily a bad thing, and it’s a way to offer inexpensive services. It also helps you to choose only the things you need. We just want to caution property owners to pay attention when you’re preparing to work with a property management company. Some people do this to appeal to clients as a low cost leader, but then they actually end up being more expensive than the companies that include a lot more services in their rates.
Property owners are always asking us how much our services cost. They want to know what we charge before they ask us about anything else. When you’re comparing property management companies, make sure you are comparing the provided services as well as the costs. It’s important to compare apples to apples. Don’t only ask what they charge; ask what they offer and whether additional services cost more. People often pay attention to the top line when really it’s the bottom line that is most important. If you go cheap, sometimes you pay dearly, so pay attention. If we can help you understand a property management company’s fee structure, or you’d like to hear more on this topic, please contact us at Centurion Real Estate Management.