How to Waive Property Management Fees in 3 Steps

Are you a rental property owner trying to understand what your property management fees do? You may notice that the property management service you have in place is beginning to eat more of your monthly profits. What will you do about it?

Let's take a look at what property management fees are and show you how to successfully appeal these fees by using DoNotPay.

Property Management Fees Explained

Perhaps one of the biggest challenges for rental property owners is understanding what your property management fees are used for and being aware of when you are being overcharged for these services.

A property management service is used for:

• Day to day upkeep of the property
• Repairs and maintenance
• Tenant issues like screening potential renters, monthly billing, and payment services, serving eviction notices
• Lease enforcement
• Hiring contractors and laborers
• Keeping the financial books in order

A good property management team will essentially run the entire operation, so you can worry about anything but your rental property. These services can be quite expensive and begin to eat at your monthly profits. But also know that these services are much needed especially if you own more than one property.

If you live out of town far away from your rental property then a property management team is the obvious choice for the day-to-day operation of the property.

How Much Do Property Managers Charge for Their Services?

The money paid to a property management company is based on several factors about the property such as location, condition, and the total number of units or houses.

As a good rule of thumb, you can expect to pay anywhere from 8 to 12% of the monthly rent. There are three different ways to calculate these amounts so take a good look at which option would be best for your rental property.

Flat Rates

The property management company you hire may charge you a single flat rate for their services. For example, you might pay $100 or higher per unit per month.

Total Rent Due

This would be 8 to 12% of the total amount of rent due for the month.

Total Rent Paid

This is 8 to 12% of the actual rent paid for the month. This is the better choice for you as a property owner. If you are paying the rent due amount you might be paying for units that are not paying their rent.

Trying to Pay Less for Property Management Fees

Protecting your monthly bottom line is your single largest hurdle every month. When you pay for property management it doesn't take very long to begin noticing the effects of this expenditure.

This is where you can save some money by trying the following things to negotiate a better property management fee.

Cut Down on Turnover

Keeping tenants in your units is your number one priority as a rental property owner. Getting good tenants will save you money in places other than property management by reducing wear and tear and increasing your monthly income potential.

Come up with new and inventive ways to attract and maintain quality consistent renters.

Reduce Monthly Maintenance Costs

Keeping your property well maintained is a 24/7/365 issue. There are ways to cut down monthly maintenance such as:

1. Steady periodic inspections
2. Tend to maintenance requests promptly
3. Keep good lines of communication with renters
4. Stay on top of regular big-ticket items like HVAC and plumbing

Benjamin Franklin once said, "An ounce of prevention is worth a pound of cure." This holds very true in the rental property genre.

Tenant Screenings

You need to attract and keep quality renters. If that means a more thorough background check, use it to your advantage. After all, it is your property, and you will have the final word on whom you rent to. Just be cautious and maintain your screening process while adhering to the Fair Housing Laws.

Now that you understand a bit about property management fees you probably can see areas where you have been overcharged, and now you need a way to appeal those fees that seem a bit too much.

How to Use DoNotPay to Appeal Your Property Management Fees

DoNotPay was designed to level the playing field and offer solutions to problems for everyone. If you feel you have been overcharged for property management fees, DoNotPay has got your back.

Here's how you can use DoNotPay to appeal fees:

1. Search "appeal fees" on DoNotPay, choose the Fight and Waive Fees product, and select the type of fee you want to appeal.

2. Select the merchant you want to appeal fees for and enter the details of your transaction, including an associated account if you have one.

3. Submit your case! DoNotPay will generate the best argument for your case and make sure your fee waiver request gets sent to the merchant for processing.

And that is it! DoNotPay will be working hard on your behalf and notify you for further information or when a decision has been made.

Why Should You Use DoNotPay?

DoNotPay is your one-stop information hub for appealing fees and so much more. DoNotPay is:

• Easy. You don’t have to go through so many hoops and fill out tedious forms to appeal property management taxes.
• Fast. It only takes minutes to give the necessary information on the DoNotPay platform. DoNotPay will ensure you don’t miss out on important information.
• Successful. DoNotPay will make the best case on your behalf to have property management fees waived.

You can spend your time doing something fun instead of worrying about overpriced property management fees.

What Else Can DoNotPay Do?

Appealing property management fees is just the beginning of what DoNotPay can do for you. DoNotPay can help you waive fees on:

Let DoNotPay show you how easy it can be to appeal those overcharged property management fees today.