If you are wondering how much money you need to pay a property manager for handling the investment property you want to rent out in Dallas, you came to the right place. Many people who wish to rent out a house, a room, or an apartment they own hesitate to hire a property manager because they are unsure of the fees and benefits of hiring one.

That is understandable since most people want to maximize the return on investment from their properties—making it normal for them to be concerned. However, you may want to note that the cost of paying real estate property management is far more valuable because of the benefits they can bring. Professional property managers can set a better price for your home, find the right clients, protect it from bad tenants, and ensure that your property will increase in value.

Although real estate property managers will cost you some fees, they offer significant value that will make you more money and save you much time. With their professional help, you can lower the risk of making expensive mistakes and do what is best to make money with your investment property.

The cost of hiring a property manager in Dallas will depend on a few factors, but here is what you can expect if you hire one:

Dallas Real Estate Property Management Fees

Property managers in Dallas make an average of just a little above $47,000 annually, which is not much compared to other careers. Although, the value they offer to each of their clients is far more significant than the fees you should expect to pay.

Most property management companies use two different fee structures for charging customers. You will either pay a flat fee or a specific percentage of what you collect on your for-lease property. Before signing anything with a property manager, you need to make sure that you understand the fee structure you are signing up for.

Although a flat fee can seem like a pretty good deal if you expect a higher monthly income on your leased property, you also need to ensure what services are included. Here are some of the services that should be included:

Accounting report

Serving notices

Inspections

Some of the best property managers will be upfront and honest about the fees you are paying, and they will include all the services that will make managing your property a lot easier on your end.

Local Dwelling is a Dallas-based property management company with no hidden charges and is very transparent with its fee structures and inclusions. If you want to know what you are paying for and get a high ROI on your property, going with a top-notch company like localdwelling.com is your best bet.

Type of Property Management Fees

Aside from the monthly fee for managing your property, there are also a couple of one-time fees you are expected to pay, such as:

Tenant placement or leasing fee

A property manager charges a one-time fee for finding a tenant for your property. The standard fee in Dallas for this service is a bit high, and it might equal a full month’s rent.

Additional service fees

Some companies add additional service fees for services like rented guarantees, risk-free eviction guarantees, periodic reports and evaluations, and insurance.

Property Management Packages

Another thing you can expect is being offered property management packages, so you can choose the specific services you will need to save money instead of going with a full package that includes services that seem unnecessary for your case.

References:

https://www.indeed.com/career/property-manager/salaries/Dallas–TX

https://www.rpmmeridian.com/property-management-fees

https://specializedpropertymanagementdallas.com/property-management-fees/