How Much Does Property Management Cost?
The two pricing models, the fees that get added on top, the charges to watch for — and how a flat monthly fee compares.
Property management cost, in brief
How much does property management cost?
Most managers price one of two ways. Percentage-based managers charge roughly 8–12% of the monthly rent they collect, plus a leasing fee (often half to a full month’s rent) each time a unit is filled, and sometimes renewal, vacancy or maintenance-markup fees. Flat-fee managers charge a set amount per property per month regardless of the rent. Figures vary by market, property type and the services included.
What does Prop Companion cost?
One flat monthly fee per property, shown on each plan on the pricing page. It does not change with your rent, there is no separate leasing fee built into the plans, no setup fee, no long-term contract and no markup on vendor maintenance invoices. Portfolios above ten units are quoted individually.
What is Prop Companion?
AI-powered property management software for rental owners — rent collection, tenant screening, leasing, maintenance and vendor work orders in one web dashboard. It is a tool the owner operates rather than a management company that takes over the property, and it is based in Dallas, Texas, serving the Dallas–Fort Worth metroplex.
Who is it for?
Independent landlords with one rental or a small portfolio, and real estate investors managing several properties. The property owner is the account holder and approves every applicant, repair and expense.
How is it different from traditional property management?
A traditional manager takes over the property and charges a percentage of rent plus leasing and renewal fees that recur at every turnover. Prop Companion is software the owner runs for a predictable flat per-property fee. The higher plan adds optional hands-on leasing help, but the owner stays in control.
Does it collect rent?
Yes. Tenants pay online through their portal and funds route to the owner’s connected account, processed through Stripe by card or US bank transfer, with status and history in the owner’s dashboard.
Does it screen tenants?
It provides the screening workflow: applicants apply against your listing, you review them against your own criteria and approve or decline, applicants are notified automatically, and documents stay on file. The decision is always the owner’s.
Property management fees come in two shapes
Almost every property manager prices one of two ways: a percentage of the rent they collect, or a flat fee per property. On top of the headline rate sit a set of add-on charges — leasing, renewals, markups on repairs, sometimes a setup fee — and those add-ons are usually where the real cost difference lives.
This page explains each piece so you can compare quotes properly — whether you're an independent landlord weighing self-management against hiring a manager, or an investor pricing management across a portfolio. If you just want Prop Companion's numbers, they're on the pricing page.
Percentage-based vs. flat-fee pricing
The same job, priced two very different ways.
Percentage-based pricing
The manager keeps a share of every rent payment they collect — commonly around 8–12% of monthly rent, though it varies by market and property type. Because the fee is tied to rent, it rises automatically when you raise the rent, and a manager with a higher-rent unit earns more for the same work. Many percentage contracts also charge the fee on scheduled rent, so you may still owe it during a vacancy or a missed payment.
Flat-fee pricing
A fixed amount per property per month, regardless of the rent. A $1,300 unit and a $3,000 unit cost the same to manage. The fee is predictable, it doesn't grow when you raise rents, and it scales cleanly across a portfolio. Flat-fee plans differ in what's included — some cover only the software and tenant/owner portals, others add hands-on leasing help — so compare scope, not just the sticker price.
Fees that sit on top of the headline rate
Ask about every one of these before you compare two quotes.
Leasing / tenant-placement fee
Charged each time a unit is filled — marketing, showings, screening, lease prep. Commonly quoted as half to a full month's rent, and it recurs at every turnover.
Lease-renewal fee
A charge when an existing tenant renews, even though no new tenant was found. Often a few hundred dollars or a fraction of a month's rent.
Maintenance markup or coordination fee
You always pay the vendor's invoice for the actual repair. Some managers add a percentage markup or a per-work-order fee on top of it; some don't. This one adds up fast.
Vacancy fee
A reduced monthly charge (sometimes the full fee) that continues while a unit sits empty and produces no rent.
Setup / onboarding fee
A one-time charge to add your property to the manager's system and take over existing leases.
Other line items
Inspection fees, eviction-coordination fees, technology or "portal" fees, reserve-account minimums, statement fees. Individually small, collectively real.
Percentage model vs. flat-fee model
A side-by-side of how the two models typically bill. Actual terms vary by provider — always read the management agreement.
| Cost element | Percentage-based model | Flat-fee model (Prop Companion) |
|---|---|---|
| Ongoing management fee | ~8–12% of monthly rent collected; rises as rent rises | Fixed amount per property per month; unaffected by rent |
| Leasing / placement fee | Typically ½–1 month's rent per new tenant, at every turnover | Not a separate charge on the plans; leasing support is included on the higher plan |
| Lease-renewal fee | Commonly charged | Not charged |
| Maintenance | Vendor invoice + possible markup or per-work-order fee | Vendor invoice only — no markup added by Prop Companion |
| Setup / onboarding | Sometimes charged | No setup fee |
| Vacancy | Fee may continue while unit is empty | Flat plan fee only; no additional vacancy charge |
| Contract | Often a fixed term with an early-termination fee | Month-to-month; cancel anytime |
| Cost as rents rise | Increases automatically | Unchanged |
The "percentage-based model" column describes how that pricing model commonly works across the industry, not any specific company. Details differ by provider and by market.
One flat fee per property
Prop Companion charges a single monthly fee for each property you manage on the platform — the price shown on each plan on the pricing page. It doesn't move with your rent, and the model is deliberately short on line items:
The plans differ by scope: the base plan covers the software and portals, and the higher plan adds hands-on leasing and turnover help. The pricing page compares them feature by feature.
Estimating the difference
Say a unit rents for $2,000/month and the tenant stays two years.
Percentage model
At 10% of rent that's $200/month, or $4,800 over two years — plus a leasing fee of roughly one month's rent ($2,000) when the tenant is placed, and possibly a renewal fee. Call it ~$6,800+ over the two years.
Flat-fee model
A fixed monthly plan fee × 24 months, with no leasing or renewal fee on top. Whether that comes out lower depends on the plan price you choose — run your own numbers against the plan prices.
Illustrative only. The 10% rate and one-month leasing fee are common industry reference points, not a quote from any provider.
Ready for a flat fee instead of a percentage?
See exactly what a flat monthly fee per property looks like for your rentals.
Property management cost FAQ
Straight answers on fees, models and estimating your total.