Property managers, from solo agents with a handful of doors to small management firms, invoice owners for monthly management fees, tenant placement, maintenance coordination, and other services. They also bill owners for expenses paid on their behalf, such as repairs, advertising, and inspections. Invoices are sent mainly to property owners, though some firms also bill tenants for fees such as late charges or lease violations.
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Invoice_1001_Client_2026-10-14.pdf
Most residential managers charge a monthly fee that is a percentage of collected rent, commonly 8-12% for single-family and small multifamily, with a minimum monthly fee per unit. Larger portfolios often get lower percentages. On top of that, managers bill separate fees for leasing (often 50-100% of one month's rent), lease renewals, move-in or move-out inspections, eviction handling, and project oversight on larger repairs (often 5-15% of project cost). Vendor costs are usually passed through at cost or with a disclosed markup. Some managers use flat per-unit fees, especially for commercial or HOA work, and bill hourly for consulting, owner reporting, or one-off tasks. Your management agreement should list every fee, and invoices should match it exactly.
| Service | Priced | Typical range |
|---|---|---|
| Monthly management fee (residential) | % of collected rent | 8-12% |
| Monthly management fee (flat, per unit) | per unit per month | $75-200 |
| Tenant placement / leasing fee | % of one month's rent | 50-100% |
| Lease renewal fee | flat fee | $150-400 |
| Move-in or move-out inspection with photo report | per inspection | $100-250 |
| Maintenance project oversight | % of project cost | 5-15% |
| Eviction coordination (not including legal or court fees) | flat fee | $150-500 |
| Consulting or administrative work outside the agreement | per hour | $50-125 |
Typical US ranges. Rates vary by region, experience, and job size.
| Description | Qty | Rate | Amount |
|---|---|---|---|
| Management fee, March 2025 (10% of $2,400 collected rent) - 123 Maple St | 1 month | $240.00 | $240.00 |
| Tenant placement fee, 456 Oak Ave Unit B (75% of $1,800 monthly rent) | 1 flat fee | $1,350.00 | $1,350.00 |
| Move-in inspection with photo report, 456 Oak Ave Unit B | 1 inspection | $150.00 | $150.00 |
| Water heater replacement oversight, 123 Maple St (10% of $1,650 vendor invoice) | 1 project | $165.00 | $165.00 |
| Online listing and advertising costs, 456 Oak Ave Unit B (at cost) | 1 flat fee | $65.00 | $65.00 |
| Total | $1,970.00 | ||
Notes: Payment due within 15 days or deducted from owner proceeds per the management agreement dated 1/10/2025. Vendor invoices and listing receipts are attached. A late fee of 1.5% per month applies to balances not covered by owner proceeds.
Owners with several properties need to see which fees belong to which door for their own books and tax filings.
Percentage fees are based on collected rent, so showing the figure lets the owner verify your math.
Tying each charge to the signed agreement prevents disputes over fees the owner forgot about.
Owners expect proof of repair and advertising costs, and it separates your fee from reimbursed expenses.
Hidden markups cause trust problems and may violate disclosure rules in some states.
Many states require a license to manage property for others, and some require it to appear on documents.
Owners need to know whether the amount comes out of rent or must be paid on top of it.
Most managers collect their fees by deducting them from rent before sending owner disbursements, which makes late payment rare. When you bill separately, such as for leasing fees or project oversight, net 10 to net 15 is common. Many managers require an owner reserve or advance deposit, often $300-1,000 per property, to cover repairs without waiting on reimbursement. Accept ACH transfers, checks, and card payments, and state any card fee in the agreement. Late fees of 1-2% per month are common, but check your state rules and make sure the fee is in the agreement. Keep owner funds and tenant security deposits in separate trust or escrow accounts as your state requires, and never pay your own invoices from the wrong account.
Bill your fees as their own line items and never mix them with rent or reserve funds. Clean separation makes your reporting clear and helps if the owner or a state regulator reviews your records.
Bill repairs, advertising, and supplies in the same month you pay them. Costs that sit for several months turn into surprises and get questioned.
Define in the agreement when a leasing fee, renewal fee, or inspection fee is earned, such as when the lease is signed or when the tenant moves in. Fee disputes usually come from unclear triggers.
Pair the invoice with an owner statement showing rent collected, expenses paid, and net disbursement. Owners pay more willingly when they can see the whole picture.
Percentage fees disappear when a unit sits empty. If you want a minimum monthly fee during vacancy, put it in the agreement and bill it clearly.
Deducting from rent is common and allowed when your agreement says so. Even then, send an itemized statement or invoice so the owner can see exactly what you took and why.
In many places yes, if it is disclosed in the management agreement. Some states or license rules require disclosure of markups or referral fees. Show the markup as a separate line and check your local rules.
Late fees and violation charges are billed to the tenant according to the lease and local law. Management fees and repair costs not caused by tenant damage go to the owner. Keep these separate on your records.
Your agreement should say whether the owner must fund the account or pay you directly. Invoice the shortfall, and consider requiring a reserve so fees and repairs are not delayed by cash flow.
That depends on your agreement. Most managers bill when the lease is signed or when the tenant moves in. State the trigger in writing so there is no argument if the tenant leaves early.
Send a Property Management estimate for approval, then turn it into an invoice when the work is done.
Property Management estimate template