How Much Does Property Management Really Cost? (And Is It Worth It?)
Apr 25, 2025
Hiring a property manager may seem like an added cost, but managing rentals takes time, structure, and expertise. This article breaks down what it really costs — and if it’s worth it.

💰 The Perceived Cost vs. the Real Cost
Property management companies typically charge between 8% and 12% of the monthly rent collected. At first glance, that may seem like a lot. But if you're handling everything yourself, consider the hidden costs:
Time spent responding to tenant issues
Delayed rent collection
Long vacancies due to poor marketing
Legal risks from non-compliance
Stress from juggling maintenance, screening, and paperwork
When you factor in those indirect costs, professional management can pay for itself.
📋 What’s Included in a Property Manager’s Fee?
Not all property managers are the same, but a full-service company like Lakea typically provides:
Tenant screening and placement
Lease creation and enforcement
Rent collection and late follow-up
24/7 maintenance coordination
Legal compliance support
Owner reports and communication
Vacancy reduction strategies
This saves you time, reduces risk, and improves cash flow — all from day one.
🧾 The Hidden Costs of Self-Management
Doing it all yourself might seem cheaper, but it often leads to:
Emergency repair overcharges
Longer vacancies
Poor tenant retention
Legal issues due to inexperience
Missed tax advantages
Even one bad experience — like a costly eviction or extended vacancy — can cost more than a year of professional management fees.
✅ When Should You Hire a Property Manager?
You’ll benefit most from hiring a professional if:
You don’t live near the property
You have a full-time job or other business
You own multiple units or plan to scale
You want to minimize hassle and protect your investment
At Lakea, our clients value peace of mind, not just convenience.
💡 Lakea’s Transparent Pricing
We believe in simplicity. Our plans typically range from 8% to 10% of monthly rent, with no hidden fees and full-service coverage — from leasing to maintenance and reporting.