How to Compare Property Management Proposals in the Tri Cities

Two management proposals can look similar on the first page and be very different in practice. The monthly percentage is only one part of the cost and only one part of the service. This guide lists what to compare and what to ask, so you can line proposals up side by side.

Service scope

Start with what is actually included. Ask each company for a written list of services covered by the base fee and services that cost extra.

• Is marketing, showing, and applicant processing included?
• Is rent collection and owner reporting included?
• Is maintenance coordination included, or billed separately?
• Are property reviews included, and how often?

Monthly fees and minimums

• Is the monthly fee a percentage of rent collected, rent due, or a flat amount?
• Is there a monthly minimum, and when does it apply?
• Is a fee charged while the property is vacant?

Leasing and renewal charges

• Is there a fee for placing a new resident, and how is it calculated?
• Is there a fee when an existing resident renews?
• What happens to the leasing fee if a resident leaves early?

Onboarding

• Is there a setup fee to start management?
• What does the company need from you to begin, and how long does setup usually take?

Maintenance approvals and vendor charges

• What dollar amount can the manager approve without asking you?
• How are emergencies handled when you cannot be reached?
• Does the company add a markup or coordination fee to vendor invoices?
• Can you use your own vendors?

Property reviews

• How often is the property reviewed while it is occupied?
• Do you receive photos or written notes?
• Is there an extra charge?

Owner reporting

• How often will you receive statements?
• How are owner funds and resident deposits handled?
• Who will you talk to when you have a question?

Cancellation terms

• How much notice is required to end the agreement?
• Is there a cancellation fee?
• Are there fees tied to a resident the company placed if you cancel?

Transferring tenancy records

If you ever change managers, records need to move cleanly. Ask how the company would hand over leases, deposit records, condition reports, keys, and maintenance history.

A comparison checklist

Write each answer down for every proposal:

• Base monthly fee and minimum
• Vacancy period fee
• Leasing fee and renewal fee
• Onboarding fee
• Maintenance approval limit and vendor markup
• Property review frequency and cost
• Statement frequency
• Cancellation notice and fee
• Records transfer process

Next steps

See how VRG approaches pricing, review VRG owner services, or start with a free rental analysis. VRG prepares a written proposal for each property, so you can compare it line by line.