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How much should I charge to handle renting my aunt's house?
My aunt lives out of state but owns a home in the town I live in. Rather than hire a stranger to handle managing the property she would like to hire me, and I agreed. I photographed and advertised the property, responded to inquiries and followed up on references from someone that will be moving in on January 1st. My aunt said to let her know what I charge and I have no idea. I want to charge something reasonable and fair to both of us. I thought a percentage of each month's rent would be good, but what percent? Any suggestions would be appreciated. Thank you.
It may be implied but to clarify I will be the point of contact for the renters as well.
3 Answers
- linkus86Lv 78 years agoFavorite Answer
$50/month plus a really nice Christmas gift. Receiving more than $600 and you will have to report the income to Uncle Sam. Get reimbursed for expenses too, it won't be applicable to your income. You did all the busy work, I would be surprised if it took more than 5 hours of your time over the next year.
- A HunchLv 78 years ago
Property managers typically make between 7-10% of the rent.
if you are unlicensed and don't have a network of repair professionals = you should probably charge on the lower end.
- 8 years ago
Typically the first month's rent should be yours for acquiring the renter. Each month thereafter, a 10% fee tends to be the norm in our area. As being the POC, believe me, you will earn your monthly fee. Good luck.
