If you own a rental in Miami-Dade, Broward, or Palm Beach, hiring a property manager can turn a time-consuming asset into passive income. But the sticker "percentage" you see advertised is rarely the full story. Here is an honest, specific look at what South Florida owners actually pay, so you can compare quotes and budget with confidence. All figures below are typical market ranges and estimates, not quotes for your specific property.
This is the core charge, and it comes in two common structures:
Watch the wording: "percentage of rent collected" means you pay nothing during a vacancy, while "percentage of rent due" means you may pay even when the unit sits empty. Always confirm which applies.
Finding and screening a new tenant is usually billed separately from ongoing management. Expect a leasing fee of roughly 50% to 100% of one month's rent, or sometimes a flat few hundred dollars. This typically covers marketing, showings, background and credit screening, and lease preparation. A related lease renewal fee, often $150 to $300 or a small percentage, may apply each time an existing tenant re-signs.
Managers coordinate repairs but pass the vendor costs through to you. Key things to clarify:
Beyond the headline rate, read the agreement for these common add-ons:
Short-term and seasonal rentals, common near the coast, are managed differently. Vacation-rental fees run much higher, frequently 20% to 30% of booking revenue, because they include guest communication, turnover cleaning coordination, and dynamic pricing. Condo owners should also factor in that HOA rules and building approval processes add administrative work a manager may charge to handle.
Do not choose on the monthly percentage alone. Add up the realistic annual total: management fee, one leasing fee, likely renewal, maintenance markup, and any setup or vacancy charges. A firm advertising 8% with several add-ons can cost more than a 10% all-in flat rate. Ask every candidate for a single-page fee schedule in writing and confirm exactly what is included.
The Neuman Group is a data-driven South Florida brokerage serving Miami-Dade, Broward, and Palm Beach. We can walk you through realistic management costs for your specific property and rental strategy, with no guesswork. Call 954-228-5001 (or 561-359-1115, answered 24/7) or request a free consultation to get a clear, itemized picture before you sign anything.
Most Miami managers charge about 8% to 12% of monthly rent collected, or a flat fee often between $100 and $250 per month. These are typical ranges; your rate depends on property type, rent level, and services included.
No. The monthly fee covers ongoing management, while the leasing or tenant-placement fee is a separate one-time charge for finding and screening a new tenant, usually 50% to 100% of one month's rent.
It depends on the contract. "Percentage of rent collected" means no fee during vacancy, while "percentage of rent due" or a flat fee may still apply. Always confirm the wording before signing.
Vacation and seasonal rentals typically cost 20% to 30% of booking revenue because they involve guest communication, frequent turnovers, cleaning coordination, and dynamic pricing—far more hands-on work than a standard annual lease.
Ask for a written, single-page fee schedule listing every possible charge—setup, maintenance markup, renewal, inspection, vacancy, and eviction fees—then compare the realistic annual total across firms rather than just the headline percentage.