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Co-founder & CEO

How much do property managers charge? And how do these fees compare to Belong's alternative full-service experience for rental property homeowners?

Property Management Fees: How Much Do Property Managers Charge?

Whether you’re a first time investor or simply tired of the headaches of self-managing your rental home, hiring a property manager or an alternative like Belong can go a long way in buying back your time and peace of mind. But how much do property managers charge? And how do the fees compare to a full-service experience like what Belong provides? 

To get the answers on the cost of property management and its alternatives, we’re going to break down the common costs that property managers charge and how we do things differently. 

Typical property management fees and common markups

Property management companies charge a percentage of the rent collected from your home. Most property management fees are in the range of 6 - 12% of your monthly rental price. So if you’re renting your home at $2,000 per month, you’re likely to pay between $120 - $240 a month. 

It sounds pretty straightforward, however there’s a huge discrepancy in what property management companies offer for that price. Many property managers that offer lower percentage rates make up their costs in other ways, so check the fine print before high-fiving yourself over getting a bargain. For example, a lower fee may mean that the property manager charges additional fees for a number of essential services such as marketing, inspections, lease renewals, and support if you need to evict a bad tenant. 

If your property manager fees are based on ‘rent due’, this also means they can continue to collect fees during vacancies or when tenants are late with their rent, so you’re paying fees even when you’re not earning any income. If the fee is based on ‘rent collected’, you are paying a fee out of what your tenants have paid — a much safer option for you and will motivate your property manager to handle issues quickly in order to get paid. Property management companies that charge vacancy fees to manage the home when empty will usually cost up to one month’s rent. 

Common property management fees additional to the monthly rate include:

Placement fee: Up to 100% of the first months rent

Communication after hours or during holiday periods: 25% surcharge on rates

Advertising fees for online listings: $150

There are also strict limitations on what many provide, especially when it comes to things like communication with your tenants or eviction support. Some property management companies will advertise that they offer free eviction support or charge a premium for eviction protection, only to limit the support to basic legal fees of around $500. That’s all well and good if things run smoothly, but additional legal support can quickly escalate costs, leaving homeowners without adequate financial coverage. 

The other thing to watch out for in the fine print is the fees for terminating a contract or including a commitment to sell. Some property management companies formalize this in their rental contracts, limiting your options if you choose to sell the home. 

Belong isn’t a traditional property management company, offering a fully transparent, people-first approach to managing rental homes that feels more like a hospitality experience. We look after our homeowners and residents so well that you won’t need to lift a finger. 

Belong charges a home management fee (unlock pricing for your city here) and placement fee (around 50 - 75% of the first month's rent).

Once you’ve calculated how much this will cost, that is all you’ll pay. We are proud to be full-service and don’t believe in surcharges or hiding fees. There's no setup costs and we don't sneak in surcharges like lease renewal fees or must-have inclusions like video marketing and eviction protection. 

Belong’s monthly management fee rate includes:

Guaranteed Rent: Receive your rent on time, every month, regardless of when it’s paid by residents

24/7 Concierge Support: Both homeowners and residents have access to real-time support, going beyond emergency maintenance requests.

Modern-day marketing: Virtual tours and video marketing is included in listings

User-friendly app: Belong's app provides convenient access to documentation, cash flow insights, and financial and insurance solutions. 

Long-term residents: Belong takes a personalized approach to match the right people, so they stay longer and feel at home.

Market-driven insights: Belong utilizes market data and real-time interest to maximize the value of your home.

Eviction protection: Owners are shielded from legal costs if we ever place the wrong people

Extensive vendor network: Belong connects homeowners with a vetted network of over 10,000 professionals for repairs and renovations.

Comprehensive insurance solutions: Belong offers insurance options that protect homeowners, their properties, and residents.

Innovative financial solutions: Homeowners can manage cash flow effectively, even splitting the cost of maintenance and placement fees. 

We want all of our homeowners to be cash flow positive, so we don’t charge you when your home is vacant. We don’t lock you in a commitment to sell your home with us either.

What about a fixed property management fee?

It’s uncommon, but there are some property management companies that offer a fixed monthly rate structure, rather than a percentage of your rent. These offers typically exist in markets with below-average rates, so the cost tends to be similar to a percentage rate rather than any massive discount. 

Before accepting a fixed-fee, consider that there are likely still many add-ons to this cost and that your property manager may be less motivated to get the best price for your home without a financial incentive to do so. 

Are property management fees tax deductible? What about Belong’s fees?

In short, yes, property management fees for a rental property are tax-deductible. A property you don't use for yourself or family is seen as an investment or business, so the cost of managing the property is tax deductible.

This also means you can claim fees from Belong. Belong takes on all of the responsibility of looking after your home and residents, so you can include fees and maintenance from our professional tradespeople as a deduction in your tax return. 

Ready to make the switch to reimagined Property Management?

We've got you covered. Belong is simplifying the rental experience across the US and helping more homeowners reach their financial goals with the most hassle-free property management service; BelongPro.

We want to make sure you have everything you need to find the perfect rental home for you and your family so that your move is as smooth as possible.

Stop Looking For a Place to Rent and Find a Place to Belong

We know finding the right place to live is hard, so let us help.

We are Belong, and we know that renting is the best option for many people looking for a place to live. We want to make sure you have everything you need to find the perfect rental home for you and your family so that your move is as smooth as possible.

Renting might be better than buying a home

Renting is more affordable than ever before: You don't have to put down a big deposit or pay closing costs on a rental property—all of that is taken care of by your landlord (or in this case, Belong). And if you're still paying off student loans or other debts, renting can be a great way to save money while you focus on building up your credit score (so when it comes time to buy, you'll have an easier time getting approved).

You won't have to worry about maintenance: When it comes time for repairs or updates, we will take care of everything for you! That means less stress for you and more time to focus on what matters most: enjoying life with your family!

When you're looking for a rental home, it's easy to feel like you're in over your head. There are so many things you have to think about—and if you're like me, some of those things are way above your pay grade.

However, there is one thing that we have learned: renting is a great way to save money and live comfortably without having to take on the responsibility of purchasing a property.

You can't put a price on peace of mind—and if you live in an apartment or townhouse instead of owning a house, then you don't have to worry about all the maintenance that goes along with owning a home. You don't have to worry about fixing anything or keeping up with property taxes. You just enjoy your own space and relax whenever possible.

If this sounds appealing to you, check out our webpage! We'll help make renting easy by showing only properties where we know we can get you approved for rent.

If you're looking for a place to rent, you've probably already thought about buying. But did you know that renting can be a better choice?

When you buy a home, you make a lot of sacrifices. You can't move around as much, and you have to pay more taxes and insurance. Plus, there's always the chance that your home could lose value—and even drop by more than half its original value. Not good!

Sometimes is better because it gives you more freedom and flexibility. If you ever decide to move out of town or change jobs, it's much easier when all your stuff is already packed up in boxes or stored away. And if you do decide to sell? You won't have any regrets about what might have been had things gone differently!

If you're like most people, you dream of owning a home. It's that American Dream thing: owning something that is truly yours, where you can plant roots and make memories.

This all sounds great but when you start looking at houses, it became clear that renting was actually a better choice for me right now. Here are just a few reasons why renting is the way to go!

Did you know that the average homeowner spends $1,200 per month on their mortgage? That's $14,400 per year! If you factor in taxes and insurance costs as well, it gets even higher—$23,000 per year! And if you're planning on moving within five years or so (which most people do), then the equity you'll build up in your house may not cover the cost of selling it. So even if it does work out for you financially, the cost of moving and buying again is going to be pretty steep.

Belong is here to help find the perfect rental home for YOU!

If you are ready to find the place you Belong, just visit our website and let’s get started! 

Enjoy the benefits of renting out your home without all the hassle, with guaranteed rent and innovative new services not available from property managers.

What Are The Benefits of Belong Over a Regular Property Management Company?

Getting the most out of your investment is quite important when you buy a house. This is why experienced real estate investors always work with a good management company.  

But what if you don't need to be an experienced real estate investor to start earning money with your property? With Belong, you can have all the benefits of renting out your home without all the hassle that property management implies. Keep reading and discover the advantages of Belong.

With our services, we'll find people who Belong at your home. Our tenant (or as we call them - resident) selection process involves a thorough screening process to find trustworthy residents, so you don't have to worry about it.

Some of the problems of renting out your house if having to go after your tenants and dealing with late payments. With Belong, you will receive your money on time, every time. 

Happy tenants mean longer rentals which means consistent cash flow for you. 

It takes one tricky tenant to cause significant legal headaches. Belong has a qualified team with knowledge of the latest landlord-tenant laws and will make sure you don't have to worry about all the legal parts.  

If you charge too much, you might not rent at all, if it's too low, you are losing money each month. Finding the right price requires experience and access to specific tools that you might have never heard of. With Belong you can forget about all that trouble and just enjoy your extra time (and cash!)

Have you ever put up an ad to sell something? If you have, you know how time-consuming it can be. The good news is you don't have to do that! We will advertise your property with incredible results. 

This is actually the best part: With Belong, you will have guaranteed rental payments, continuous cash flow, maximized rental value, AND free time! 

These results can only be expected from a trustworthy company like Belong. A poor choice of a management company can produce many headaches of its own. So if you are ready to Belong, all you have to do is visit our website and follow a few simple steps. 

What Are The Benefits of Belong Over a Property Management Company?

At Belong, we believe landlords or tenants are outdated. We want to make renting a magical experience for homeowners and residents. Beyond properties, we are renting people love and happiness.

Belong: Disrupting Property Management 

At Belong, we believe landlords or tenants are outdated. We want to make renting a magical experience for homeowners and residents. Beyond properties, we are renting people love and happiness. 

In this article, we will explore Belong: a company that works as the middle person between homeowners and renters. 

Belong is an online platform that connects homeowners and renters so they both can find what they’re looking for in the most simple and convenient way. 

If you are a homeowner looking for passive rental income, Belong makes it easy for you. With our user-friendly platform, putting your property out on the market and finding the perfect renter can be done without all the stress that usually comes with it. All of this happens in one place, at the click of a button on your phone or computer. The Belong App is people-forward and convenient for everyone to use.

You can forget about advertising your property, showing the house, finding the right tenant, doing a throughout screening process, collecting rent and so many other things that landlords usually have to do. 

With Belong, all you have to do is visit the website, go to the Homeowner section and follow some simple steps that we will list below.

First, you input your address in our search engine to make sure Belong is available in your area. If it’s unavailable, just be patient; we are working hard to expand to more places. You can check out all the cities we’re “coming soon” to on our website!

If you are still living in the property you want to rent out, don’t worry! Belong will handle your move so you can just sit back and relax while we make the magic happen.

Belong will take care of all the reconditioning and renovations needed for your home to be in top shape and ready for showing.

Once your property is ready, Belong will take care of all the marketing, tours, and showings. 

Belong has a trustworthy screening process that allows them to find residents that will care for your home. 

Belong will make sure to do background and credit checks, income verification, identity verification, and reference check. This way we are able to spot the best renters right away and connect them with the right homeowner. 

Belong has a reliable concierge team that will be available 24/7, offering assistance to both homeowners and renters. 

If anything comes up, you will receive notifications straight to your phone and communicate with our team. You will be able to review estimates and approve any work that has to be done in the most simple and convenient way. 

With our guaranteed rent payments, all you have to do is wait for your monthly rent payment. No complex paperwork, no trouble, no stress. One streamlined payment process and online statements are available for maximum ease.

Belong

Sparsh Mehta

Eric Vandekerkhove

Andrea Vale

Afton Brazzoni

Ale Resnik

Sparsh Mehta

Eric Vandekerkhove

Andrea Vale

Afton Brazzoni

Ale Resnik