how much does residential rental property management cost

how much does residential rental property management cost?
I'm curious what it would cost to have property management for a 2 family residential property in Medford MA. including, finding tenants, handling background checks and screenings, all financials and accounting, rent collection or possible eviction, inspections, property upkeep (lawn, snow removal, etc), emergency repairs, etc. ballpark or price range? thank you. or in general... what does residential rental property management typically run? thanks.
Renting & Real Estate - 2 Answers

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1
We're not in Massachusetts, but we charge typically 8% of the gross rent for everything. For a single property we charge 10%. We charge nothing for showing the property, advertising, running applications- we only make money when we have a paying tenant. I have also seen some companies with ala carte charges; so much to write a lease, so much for advertising, so much for collecting rent, so much for evictions, etc.


2
Most property management companies charge up to 10% of gross rents, and they handle maintenance, collections, move-ins / move-outs, etc. Your time is then spent running a business as opposed to being a landlord, which in general is like a part time job. Check this out for a list of typical "landlord duties": http://www.free-rental-property-investing-info.com Usually, you'd need many units to justify the cost of a property management company. Most often, 20 units is the magic number. However, if you are not highly leveraged then you may be able to foot the bill with only 2 units.