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Benchmark Tool

Property Management Fee Benchmark by State

See what property managers charge in your market, then calculate exactly what your annual PM cost is and how it affects your NOI.

Your PM Fee Calculator

$135
Monthly PM Cost
Within market range
$1,620
Annual PM Cost
9.0%
% of Gross Rent
8–10%
State Benchmark
$18,000
Annual Gross Rent
PM fee benchmarks — all 50 states
StateMonthly Mgmt FeeLeasing FeeRenewal Fee
Alabama8–10%50–75% first month$100–200
Alaska6–9%50–100% first month$100–250
Arizona8–11%50–100% first month$100–200
Arkansas8–10%50–75% first month$75–150
California6–9%50–100% first month$150–300
Colorado8–10%75–100% first month$100–250
Connecticut7–10%50–100% first month$100–200
Delaware8–10%50–100% first month$100–200
Florida8–12%75–100% first month$100–250
Georgia8–11%75–100% first month$100–200
Hawaii8–10%50–100% first month$150–300
Idaho8–10%50–75% first month$100–200
Illinois8–10%50–100% first month$100–250
Indiana8–11%50–100% first month$100–200
Iowa8–11%50–75% first month$75–150
Kansas8–10%50–75% first month$75–150
Kentucky8–10%50–75% first month$75–150
Louisiana8–10%50–100% first month$100–200
Maine7–10%50–75% first month$100–200
Maryland7–10%50–100% first month$100–250
Massachusetts6–9%50–100% first month$150–300
Michigan8–11%50–100% first month$100–200
Minnesota8–10%50–100% first month$100–200
Mississippi9–12%50–75% first month$75–150
Missouri8–10%50–75% first month$75–150
Montana8–10%50–75% first month$75–150
Nebraska8–10%50–75% first month$75–150
Nevada8–10%50–100% first month$100–200
New Hampshire7–10%50–75% first month$100–200
New Jersey7–10%50–100% first month$100–250
New Mexico8–10%50–100% first month$100–200
New York6–9%50–100% first month$150–300
North Carolina8–10%75–100% first month$100–200
North Dakota8–10%50–75% first month$75–150
Ohio8–11%50–100% first month$100–200
Oklahoma8–10%50–75% first month$75–150
Oregon8–10%50–75% first month$100–200
Pennsylvania7–10%50–100% first month$100–200
Rhode Island7–10%50–75% first month$100–200
South Carolina8–10%75–100% first month$100–200
South Dakota8–10%50–75% first month$75–150
Tennessee8–10%75–100% first month$100–200
Texas8–10%75–100% first month$100–200
Utah8–10%50–100% first month$100–200
Vermont7–10%50–75% first month$100–200
Virginia7–10%50–100% first month$100–250
Washington6–9%50–75% first month$100–200
West Virginia8–10%50–75% first month$75–150
Wisconsin8–10%50–100% first month$100–200
Wyoming8–10%50–75% first month$75–150
Common PM fee mistakes

Only looking at the monthly percentage

The monthly fee is just one line item. Leasing fees (50–100% of first month's rent per turnover), lease renewal fees, and maintenance markups can add 3–5% annually to your effective PM cost. Get the full picture before comparing companies.

Not including PM fees in your NOI underwriting

Investors who self-manage often omit PM fees from their deal analysis. This inflates NOI and makes properties look more profitable than they are. Always underwrite with a full PM fee even if you plan to manage yourself today.

Assuming all PM companies offer the same service

A 10% fee with monthly inspections, 24-hour maintenance response, and detailed owner statements is worth more than an 8% fee with quarterly statements and slow vendor coordination. Price per unit of service quality matters more than the raw percentage.

Not auditing PM statements monthly

Errors in PM billing are more common than most owners realize — fees charged on gross rent instead of collected rent, duplicate charges, and uninvoiced maintenance credits are all worth checking. DoorVault can flag these discrepancies automatically.

Know exactly what your PM is charging — every month

DoorVault reads your PM owner statements, reconciles every fee against your contract, and alerts you to overcharges. No more end-of-year surprises.

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NOI Calculator

See how PM fees reduce your net operating income and cap rate.
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Cash on Cash Calculator

Measure your return after PM fees and debt service are accounted for.
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Schedule E Worksheet

Map your PM fees to the correct Schedule E line for tax filing.
Related guides
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How to Reconcile PM Statements

Step-by-step process for auditing your owner statement every month.
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How to Verify Your Property Manager

Red flags, questions to ask, and how to evaluate PM performance.
Frequently asked questions
What is the average property management fee?
The national average monthly management fee is 8–10% of collected rent. Rates vary by market — coastal and high-rent cities often charge 6–9% while lower-rent Midwest and rural markets may charge 10–12% to cover fixed costs on smaller rent amounts.
What does a property management fee include?
A monthly management fee typically covers rent collection, tenant communication, maintenance coordination, owner reporting, lease enforcement, and routine inspections. It does not usually include leasing fees, eviction costs, or major repair coordination fees — those are charged separately.
Is property management fee tax deductible?
Yes. Property management fees are fully deductible as a rental expense on Schedule E line 11 (Management Fees). Both monthly management fees and leasing fees are deductible in the year they are paid.
How do you negotiate property management fees?
Your best leverage is volume, contract length, and timing. Multiple properties with one PM company, longer initial contracts, and willingness to handle your own tenant placement all create negotiating room. Most PMs offer meaningful discounts starting at 3+ units under management.