ZipRecruiter.com puts the average salary of Orlando landlords at $74,017 yearly. However, the highest earners make nearly twice as much: an impressive $128,054!
The above should give you an idea of how much you can earn as a new or soon-to-be Orlando landlord, although your earnings will still depend on several factors, such as your property's location, size, and condition. And while it may seem counterintuitive, hiring a rental property management firm can help you maximize your income in the long term.
But exactly how much are Orlando rental property management fees? And why are they worth it?
Join our team at Verandah Properties as we explore the answers to those questions.
How Much Are Rental Property Management Fees in Orlando, FL?
Orlando rental management pricing is typically a percentage of the monthly rental fee you charge tenants. For example, here at Verandah Properties, our monthly full-service property management costs between 7% and 10% of one month's rent, or a minimum of $100. So, if your monthly rental fee is $1,500, you'll only pay us a management fee of $105 to $150 monthly.
We also offer a stand-alone leasing and tenant placement service, which includes:
- Property marketing and listing
- Tenant screening
- Lease preparation
- Full legal compliance
A one-time fee of 85% of one month's rent applies to our leasing and tenant placement service. However, if you opt for our full-service property management solutions, you'll pay a discounted rate of 50% of one month's rent for this part of the package.
Why Are Fees for Property Managers Worth It?
In Florida, including Orlando, landlords and tenants have rights and duties under Florida Statutes, Part II, Chapter 83, also known as the Florida Residential Landlord Tenant Act. As a landlord, you must familiarize yourself with all the rules in the act, such as respecting tenants' rights and providing them with a safe and habitable living environment. Otherwise, you could face legal consequences due to non-compliance.
You don't have to memorize all those laws if you hire Verandah Properties as your full-service property manager. As part of the fees you'll pay us, we will:
- Screen tenants on your behalf and in compliance with all fair housing laws
- Oversee your property's maintenance and ensure it meets all building, health, and safety codes
- Enforce the lease and ensure tenant compliance
- Provide eviction oversight
So, with us on your team, you can worry less about complex rental housing laws. We can also help you maximize your income with our pet-friendly rental policies. Plus, with our trusted network of skilled contractors, we can help maintain (or even boost) your property's value and enhance tenant satisfaction, leading to higher retention rates.
Trust Verandah Properties to Manage Your Orlando Rental
Now you know that rental property management fees in Orlando, FL, are typically a tiny percentage of your monthly rental charge: only 7% to 10% if you choose Verandah Properties. However, you can still earn a hefty income for that small amount without doing all the hard work yourself.
So, as early as today, we encourage you to explore Verandah Properties' full-service property management solutions. As a company with over two decades of industry expertise, you can rely on us to help you maximize your rental income.
Speak with us today, and we'll happily give you a complimentary property analysis!