The average cost of property management in Arizona is 8-10% of the monthly rent. However, the actual cost can vary depending on a number of factors, such as the type of property, the location, and the services that are provided.
For example, property management companies in Phoenix may charge a higher fee than those in smaller towns. And, a company that offers a wider range of services, such as tenant screening and repairs, will likely charge a higher fee than a company that only handles rent collection.
Here is a breakdown of the average cost of property management in Arizona:
- Single-family homes: 8-10% of monthly rent
- Multi-family properties: 7-9% of monthly rent
- Commercial properties: 6-8% of monthly rent
In addition to the management fee, property management companies may also charge for other services, such as
- Marketing: $200-$500 per month
- Repairs and maintenance: $50-$250 per hour depending on the trade
- Evictions: $500-$1,000
The cost of these additional services will vary depending on the specific needs of your property.
Overall, the cost of property management can be a significant expense. However, it can also be worth it if you do not have the time or expertise to manage your properties yourself. By hiring a property management company, you can free up your time and energy to focus on other things, while knowing that your properties are being well-managed.
Here are some tips for finding a good property management company in Arizona:
- Get recommendations from friends, family, or other landlords.
- Interview several companies and compare their services and fees.
- Make sure the company is licensed and insured.
- Get everything in writing, including the management fee, the services that will be provided, and the terms of the contract.
By following these tips, you can find a good property management company in Arizona that will help you to manage your rental properties effectively.
