What Fees Do You Charge
to Manage a Rental Property?
DMS Properties, LLC Residential Real Estate Services charges fees for services that we provide. First of all, there is a flat fee of 8% of the monthly rent to manage a residential property. This is outlined in our Property Management Agreement. We feel that the 8% fee is a fair price to charge for the management services we provide to our homeowners. The management fees are due each month even if the tenants don’t pay their rent.
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It also explains the rental listing process and information about property management to protect your investment. Finally, you will learn about the services that we provide to our homeowners. |
You can easily set up a Zoom Meeting to get more information about our services. We can discuss your specific circumstances.
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Provide us with a couple of times that you would like to meet for your 30-minute session. We think this is a better way to start than using just email, text messages and phone calls. Give it a try! If tenants are late with their rent payments, a late fee of 5% of the monthly rent is due. It is paid by the tenants and we retain it. That compensates us for the additional rent collection activities. If a homeowner elects to receive the late fee themselves, however, we would charge them a fee of $100 per hour for all rent collection activities.
As the homeowner, you are responsible for fees for any maintenance or repairs that are NOT caused by neglect of the tenants. We handle those through our Homeowner Concierge Service Program and the fees are reflected in the owners’ statement. You would also reimburse us for the legal fees charged by Maryland District Court for rent collection (Failure to Pay Rent) filings and eviction (Warrant of Restitution). Finally, you would pay the fees incurred for the physical eviction of the tenants. These fees and procedures are somewhat different in each County. We will gladly discuss those with you in greater detail if they are needed.