What are typical property management fee structures for residential rental properties?

Professional property managers in most markets charge between 8% and 12% of monthly collected rent (not potential rent, meaning they only earn fees on rent that is actually collected). On top of the monthly management fee, most also charge a tenant placement or leasing fee when finding a new tenant, which is commonly 50% to 100% of one month's rent. Some also charge fees for lease renewals, maintenance coordination markups, and eviction management. Investors evaluating whether to self-manage versus hire a property manager need to weigh these costs against the value of their own time and the expertise required to navigate tenant law, maintenance, and marketing.