How much do Rental Property Management companies charge per month in Vancouver?

In the Greater Vancouver area for individual unit rental management, you’ll find a range of 5-12% of the monthly rent as a charge.

A 10-12% monthly management fee should include everything:

  • Marketing costs
  • Photos
  • Paid ads
  • Showings
  • Tenant Screening
  • Lease Signing & Deposit Collection
  • Move In/Out Inspection
  • Rent Collection
  • Repair & Maintenance
  • Inspections
  • Emergency Response
  • RTB Disputes
  • Insurance Claim Management
  • And More…

As you go lower on the fee range, (< 10%) you begin to see less service as you go.

If you’re comparing companies, pay particular attention to the “Leasing or Tenant Placement Fee” and the “Additional Fee Schedule”. The Additional Fee Schedule is often a list of things that cost you money, are going to happen/are needed as part of good management of rental property, and are not included in the monthly fees:

  • Inspections
  • Key Cutting
  • Photography
  • Additional Showings
  • Repair & Maintenance Charges/Markups
  • Renovation Management Project Fee
  • Emergency Response Fee
  • Registered Mail Fees
  • Rent Increase Fee
  • Renewal Fee

When you add all of these fees up, over the long term, you end up paying around 9-11% for management over a matter of a few years. This is why we provide service at 10% of the monthly rent, and we include everything on the above lists in that 10% fee.

You may also find that some some Strata Management Companies who also provide rental services, will offer a “limited time” rate of $50-$75 per month to manage your property. This is a big red flag for the following reason:

– You will likely be a “secondary client”

What this means is that they cannot fully represent your best interests as the Strata is the main client. This is done to avoid conflicts of interest which they also have to disclose from you as part of your service agreement.

All of our clients are Primary Clients which means we can represent them fully and have no conflicts of interest. If we expect there may be one, this can be avoided before you begin to work with us, and if needed we can always refer you to someone else to avoid the conflict.

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*The above information is not to be relied on as legal advice. If you require professional or legal advise for your personal circumstances, please reach out to us for a referral, or consult with us for property management services.

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