What is the Cost of Property Management in Salt Lake City?

Many landlords wonder about the cost of hiring a professional property manager in the Salt Lake City area. Here’s what you need to know:

General Management Fees

Typically, property management costs will range between 8% and 10% of your monthly rental receipts. For example, if your property rents for $1,000 per month, you can expect to pay about $100 for property management services.

Leasing Fees

Some companies will charge an extra upfront fee for tenant placement, which is commonly known as a leasing fee. At Advanced Solutions Property Management (ASPM) we don’t charge leasing fees. We believe this approach aligns our interests with property owners, which ultimately ensures we place quality tenants.

We don’t think it’s fair for property owners to pay a fee for what could potentially be a bad tenant, only to evict them and pay another fee for a new tenant. Leasing fees seem counterproductive to us, so we don’t charge them to our clients.

The Value Proposition

As we always tell our owners, the cost of professional Salt Lake City property management will likely be far outweighed by the increase in income and decrease in vacancy over time.

Think of hiring a property manager for the same reasons you’d hire an accountant or a lawyer. They know the industry and can help you increase your overall income.

Instead of focusing only on the management fees, consider your bottom line and the potential returns on your investment.

Why Professional Investors Choose Property Managers

Professional real estate investors rarely manage their own properties. They entrust them to property managers because they understand how this can increase their rental income and return on investment.

It’s about leveraging industry expertise for better results.

Remember, the goal is to improve your financial outcome, not just minimizing your costs. We believe hiring a property manager in Salt Lake can pay for itself through better tenant selection, market knowledge, and making the operation more efficient.

If you have any questions about our fee structure, or how we can help maximize your rental property’s potential, please contact us at Advanced Solutions Property Management.