Key Points
Hiring a professional property manager involves several standard fees.
A quality property manager can save investors money over time, while a poor one can significantly reduce returns.
Real estate investors should carefully vet property management companies and fully understand all fees before signing a management agreement.
One of the most common questions we hear from Virginia investors is:
“How much does hiring a property manager cost—and am I paying too much?”
Property management fees can vary widely depending on the services provided, the property type, and the experience of the management company. What matters most is not finding the cheapest option, but choosing a property manager with a transparent, fair, and clearly defined fee structure that aligns with your investment goals.
Below are the five most common fees investors should expect when hiring a professional property management company.
5 Common Property Management Fees
1. Management Fee
The management fee covers the ongoing, day-to-day operation of your rental property. This typically includes rent collection, tenant communication, accounting, coordination of maintenance, and compliance oversight.
Management fees are usually structured as either:
A flat monthly fee, or
A percentage of the monthly rent collected
Percentage-based fees often better align the property manager’s incentives with the owner’s—encouraging strong occupancy, timely rent collection, and proactive management.
2. Leasing Fee
The leasing fee covers the process of securing a new tenant, including:
Marketing the property
Scheduling and conducting showings
Screening applicants
Preparing and executing the lease agreement
Leasing fees can range from a flat rate to the equivalent of one month’s rent. Investors should clearly understand how their property will be marketed, how applicants are screened, and what criteria are used to select tenants.
3. Lease Renewal Fee
When a lease approaches expiration, a professional property manager should complete a full renewal review that includes:
Analyzing current market rental rates
Reviewing the tenant’s payment history and reliability
Evaluating changes in operating expenses such as insurance, taxes, or HOA fees
The goal is to retain quality tenants while ensuring rent remains aligned with market conditions and rising costs. Many property management companies charge a modest lease renewal fee for this service.
4. Occupied Property Inspection Fee
Routine inspections are an important part of protecting a rental property. At a minimum, an occupied home should be inspected annually to ensure the property is being properly cared for, lease terms are being followed, and potential maintenance issues are identified early.
Some property management companies charge a separate occupied inspection fee for this service. At Hive Group Realty, this is not something we typically charge for, as we consider routine inspections a standard part of responsible property management rather than an add-on expense.
5. Maintenance Oversight Fee
Maintenance coordination plays a major role in preserving a property’s condition and value. This includes responding to maintenance requests, coordinating qualified vendors, and ensuring repairs are completed efficiently and at competitive rates.
While some property management companies charge an additional maintenance oversight or coordination fee, this is not something Hive Group Realty typically charges. We view maintenance management as a core responsibility of effective property management and include it as part of our overall service to property owners.
Watch for Hidden or “Junk” Fees
In addition to standard fees, investors should be cautious of extra charges that may not provide meaningful value, including:
Setup or onboarding fees
Annual tax document or 1099 preparation fees
Administrative or processing fees
Before signing a property management agreement, review the entire contract carefully and make sure you understand exactly what you will be charged and when.
Finding the Right Property Management Partner
When it comes to property management, you often get what you pay for. A skilled, proactive property manager can protect your investment, reduce vacancy, and improve long-term returns—while a poor one can quickly erode profitability.
At Hive Group Realty, we believe in transparent pricing, proactive management, and long-term partnerships with Virginia property owners. Our goal is to provide clarity, compliance, and confidence—without unnecessary or hidden fees.
If you’re considering professional property management or want help evaluating whether your current fee structure makes sense, our team is here to help.
Contact Hive Group Realty today to learn how we can support your rental investment goals.
