The short answer
Full-service property management in Charleston commonly runs about 8 to 12% of monthly rent, plus a leasing fee of roughly half to a full month's rent when a new tenant moves in, and a one-time setup fee anywhere from $0 to $500. The rate on the first page of a proposal is only part of the cost. What matters is the total you pay over a year and how much rent the home actually collects.
The fees you'll see on a proposal
1
Monthly management fee
Usually a percentage of the rent collected. Ask whether it is charged on rent collected or rent due, because some managers bill even when the tenant hasn't paid.
2
Leasing fee
Charged when a new tenant signs. It should cover marketing, showings, screening and the lease itself. Ask what is included and what costs extra.
3
Lease renewal fee
Charged when a current tenant renews. Renewals are cheaper than turnover, so a good manager works to keep good tenants in place.
4
Maintenance oversight
A fee on repair bills for finding vendors, scheduling the work and making sure it gets done right. Maintenance is most of a property manager's day-to-day work, so that cost shows up somewhere. Managers who skip this fee usually charge a higher monthly fee instead, and a manager who isn't paid to manage maintenance has little reason to do it well. Ask how it is calculated.
5
Setup or onboarding fee
A one-time charge to bring your property on. Some companies charge it and some don't.
6
Eviction coordination
If a tenant has to be removed, there are court costs plus the manager's time. Ask what the manager charges and what is passed through at cost.
Fees to ask about before you sign
1
Repair markups
Some managers add a markup to vendor invoices or use in-house crews at higher rates. Ask to see a sample invoice.
2
Add-on fees
Inspection fees, technology fees, mailing fees, annual fees. Small charges add up, so ask for the full fee schedule in writing.
3
Vacancy fees
Some companies charge a monthly fee while the home sits empty. That means they get paid even when you don't.
4
Tenant-paid fees
Some managers keep late fees or application fees. That is common, but you should know where that money goes.
5
Cancellation terms
Read how you can end the agreement, how much notice is required, and whether there is a fee to leave.
What the monthly fee should cover
These are the core of the job. If a manager bills extra for any of them, ask why.
- Collecting rent and paying you each month
- A monthly owner statement showing income and expenses
- Year-end tax documents
- Answering tenant questions and enforcing the lease
- Following South Carolina landlord-tenant law
What affects your quote
- Property type. A single-family home, a condo with an HOA and a small apartment building each take different work.
- Age and condition. Older homes and homes with deferred repairs need more attention.
- Number of units. Owners with several doors can change the math on what makes sense.
- Tenant history. A home with long-term tenants is simpler than one that turns over every year.
Why the cheapest rate can cost more
Take a home that rents for $2,000 a month. One percentage point on the management fee is $20 a month, or $240 a year.
Now compare that to one extra month of vacancy. That is $2,000 in lost rent, which is more than 8 years of that one percentage point. A tenant who stops paying or damages the home can cost several months of rent on top of that.
So the questions that matter most are how fast a manager leases homes, how well they screen tenants, and how they handle rent collection and repairs. A lower fee does not help if the home sits empty or the wrong tenant moves in.
A checklist for comparing managers
1
Get the full fee schedule in writing, not just the monthly rate.
2
Ask how long their homes sit vacant between tenants.
3
Ask how they screen tenants: income, credit, rental history and background.
4
Ask whether they mark up repairs, and see a sample owner statement.
5
Ask how and when you get paid each month.
6
Read the cancellation terms before you sign.
Where Prosper fits
We're not the cheapest property manager in Charleston, and we don't try to be. Owners hire us to get their homes leased to qualified tenants, keep them leased, and get clear answers when they ask. Our fees are listed on our pricing page, so you can compare us line by line.
Fees and terms vary by company and by contract. Always read the management agreement before you sign.
