Virginia Virginia Property Management Package Form
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People also ask
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Do you need a license to be a property manager in Virginia?
In Virginia, you must earn your Real Estate Broker license to start a property management company. Alternatively, you can work under a Broker with your Virginia Real Estate Salesperson license.
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How much does property management cost in Virginia?
Management Fee: Charged whenever a tenancy is in effect, it is 8% of the monthly rental amount for houses and townhomes and 9% for condominiums.
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Can I manage my own rental property in Virginia?
Virginia does not require a license to manage property. However, any actions taken as manager that are considered 'licensed activities' will require a real estate license.
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How is the management fee typically calculated in a rental property?
Most property management companies charge a monthly fee of between 8% – 12% of the monthly rent collected. If the rent on your home is $1,200 per month the property management fee would be $120 based on an average fee of 10%.
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What is the average property management fee in Virginia?
Northern Virginia property management rates usually fall between 8 and 10 percent of monthly rent.
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What is the average management fee rate?
The Typical Property Management Fee When you contract a property management company, expect to pay a commission of 6% to 12% of the rental value. This fee goes to the management company. However, some companies charge a flat rate of $100 to $200 per month, especially when the rental income is relatively low.
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How much does an apartment property manager earn in Virginia?
Property Manager Salary in Virginia Annual SalaryHourly Wage Top Earners $82,783 $39 75th Percentile $67,400 $32 Average $57,834 $28 25th Percentile $43,600 $21
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What is a typical management fee?
Management fees, whether paid as a mutual fund expense ratio or a fee paid to a financial advisor, typically range from 0.01% to over 2%. Generally, the range in fee amount is due to management strategy.
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