Nashville property management fees can be flat rate fees or percentage based fees. At Browning-Gordon, you pay a percentage fee. With that, you pay the same amount every month that the property is managed. There are no upcharges on maintenance or administrative fees or anything like that. It’s the same rate every month whether we spend a few minutes on your property or dozens of hours on your property. You don’t have to wonder what you’ll be paying every month, because it will be the same percentage based on the rent that comes in.
Management Fees and Pricing Incentive
When you work with a company that charges a percentage based fee, your property manager has to work a little harder to get a higher rent. So, the more rent we get for you, the more we earn. It’s a win-win situation. With a flat rate fee structure, there’s little incentive to get you more rent. They’re getting paid the same no matter what the property rents for.
Franchise Companies versus Local Companies
A lot of franchise companies will sell you on their technology. A lot of them do have great technology and they may centralize their services in other cities so it can be a great thing for some people. At Browning-Gordon, we are based in Nashville. When you call us, a live person answers the phone right here in Nashville. You can come to our office and visit us. Calls aren’t going to be routed somewhere else and they won’t go to an automated voicemail system during normal business hours. You can get an answer pretty quickly.
Incorporating Maintenance Costs
We don’t have our own maintenance division, so we don’t make a profit off your repairs. Some management companies will do that; they have a maintenance company in-house and make money off of what you need. That’s fine, but it’s another type of fee, and you need to be aware of it.
Leasing Fees and Hidden Fees
Ask questions so you know what you’re paying for. Ask what the leasing fees are and find out if there are any other fees you can expect to pay. We can all do property management, it just matters what experience you want to have when you’re comparing rates and choosing a company. Make sure you know what you’re getting; you might like a larger company or a locally owned company that can provide better customer service.