Vancouver Property Management Fees Explained: What You Should Actually Be Paying

Most property management companies in Vancouver are not upfront about their fees. You find the real cost buried in the contract — after you have already signed. This guide breaks down what the industry charges, what you should actually pay, and what to watch out for when comparing companies.   How Property Management Fees Work…Read More→

Most property management companies in Vancouver are not upfront about their fees. You find the real cost buried in the contract — after you have already signed. This guide breaks down what the industry charges, what you should actually pay, and what to watch out for when comparing companies.

How Property Management Fees Work in Vancouver

1. Monthly management fee

This is the ongoing fee charged every month the property is under management. In Vancouver, this typically ranges from 8% to 12% of the monthly rent collected. It should cover rent collection, tenant communication, maintenance coordination, monthly reporting, and general oversight of the tenancy.

2. Leasing fee

A one-time fee charged when a new tenant is placed. Typically ranges from 50% to 100% of the first month’s rent. It covers advertising, viewings, screening, and lease preparation. This fee is charged each time a new tenancy begins.

3. Lease renewal fee

Some companies charge an additional fee — usually 25% to 50% of one month’s rent — when an existing tenancy is renewed. Others do not charge for this at all. Ask directly before signing.

4. Maintenance markup

Some companies add a 10% to 20% markup on top of every contractor invoice. This is one of the most common hidden costs in property management. Always ask: ‘Do you add any markup to maintenance invoices?’ Get the answer in writing.

5. Vacancy fee

Some companies continue to charge a monthly fee even when the unit is empty and generating no rent. Look for companies that charge zero management fee during vacancy — the only payment should be the leasing fee when a tenant is successfully placed.

What GVANTPM Charges

• Monthly management fee: [10% of the Rent +GST] Ongoing—Leasing Included for Life
• Leasing fee: [$1,500 +GST] One-Time—No Management

What Does It Actually Cost Per Year?

Using a sample property: a two-bedroom condo in Burnaby renting for $2,500 per month.

Against the cost of a bad tenant — lost rent, RTB hearings, and time spent self-managing a difficult situation — professional management at this level is not expensive. It is insurance.

Red Flags When Comparing Companies

• Vague contracts with no itemised fee list
• Maintenance markups — always ask directly and get the answer in writing
• Vacancy fees — you should not pay management fees when no rent is coming in
• Long lock-in contracts with high exit penalties
• No clear process for late rent or tenant issues
• Rotating staff — you should have one named point of contact

Questions to Ask Before Signing

• What exactly is included in the monthly management fee?
• Do you add a markup to maintenance invoices?
• Do you charge a monthly fee when the unit is vacant?
• What is your average time to fill a vacancy?
• What is your process when a tenant stops paying rent?
• What is your contract length and exit terms?

Want a Straight Answer on Fees?

GVANTPM gives every prospective client a clear, itemised fee breakdown before signing anything. Contact us at gvantpm.com/contact-us/ for a no-obligation quote on your property.