Property management companies in Utah vary widely on rates, services, and customer service. The following post is a broad overview on what ranges you can expect when turning your property over to a management company in Utah.
Whether you want to nightly rent your property in Utah on Airbnb, lease it out for parties/events, or just have a long-term contract renter – There is a Utah property manager to fit your needs!
Spectrum Realty & Property Management has over 20 years experience in the Utah housing market and has helped savvy investors not only rent and manage properties, but also buy and sell great investments! Contact us for more info today!
Here are some FAQ’s that investors ask of companies that specialize in Utah property management.
Utah Property Management FAQ
If you have questions regarding property management companies in Utah, you’ve come to the right place! Below are some frequently asked questions for the Utah rental market!
What is the Average Property Management Fee in Utah?
The average fee for property management in Utah ranges between 8% – 12% for a full service manager, but the industry standard is 10%. For example, a single-family home renting for $1000/month at a 10% fee, would cost $100 in property management fees. Full service property management often includes finding renters, rental pricing, online collection of rent payments, automatic deduction of property management fees, property maintenance, inspections, and turnovers.
Find out more information on Spectrum’s Utah property management services.
Do you Need a License to be a Property Manager in Utah?
Yes, Utah state law requires you to have a current broker’s license to manage other people’s properties, or be a licensed sales agent working under a Utah broker.
What can an Unlicensed Property Manager do in Utah?
Unlicensed employees of property management or real estate companies may preform property management services without a real estate license, as long as they are supervised by a licensed broker. These duties include: Showing prospective rentals to tenants, quoting rent and lease terms, bookkeeping, maintenance, rent collection, serving legal notices, inspections, addressing tenant complaints, and filling out pre-printed rental/lease agreements.
What Does Full Property Management Mean?
Full-service property managers handle all aspects of renting a property, including: Listing your property, finding and placing qualified tenants, background screenings, rent collection, yearly inspections, maintenance requests and repairs, lease agreements and resigning, tenant turnovers, and any legal issues that may arise.
If you are an investor or owner looking to buy/sell/manage rental properties in Utah, contact Spectrum today to find out more!