If you’ve been shopping for a property manager in Miami, you’ve probably noticed something frustrating: everyone advertises a different “rate,” and none of the proposals seem easy to compare.
One company says 6%. Another says 10%. Another says “low monthly fee!” but then the contract has pages of extra charges. Others say “Call for a quote”.
Here’s the truth: property management cost in Miami is rarely just the monthly percentage. The real cost depends on leasing fees, renewal fees, maintenance policies, and whether the company uses markups or “admin fees” to make up for a low advertised rate.
This guide breaks down what owners should expect in 2026 — and how to avoid the fee traps that quietly raise your real cost.
Typical property management fees in Miami (2026)
Most residential property management companies in Miami charge some combination of the following:
1) Monthly management fee
Most commonly 8%–12% of rent collected.
This is the “headline” number everyone markets, but it doesn’t tell you the full story.
2) Leasing fee (tenant placement)
Often one month’s rent (sometimes 10% of the TOTAL ANNUAL RENT; sometimes a flat fee).
This covers marketing, showings, screening, lease preparation, and getting a tenant in place.
3) Renewal fee
Usually $0–$500 when a tenant renews. Or sometimes even ONE ENTIRE MONTH.
Some companies charge it every year. Some charge it only if they renegotiate terms. Some don’t charge it at all.
4) Maintenance-related charges
This is where many owners get surprised. You’ll see things like:
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repair markups
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“maintenance coordination fees”
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“dispatch fees”
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mandatory inspection charges
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mandatory programs
These can add up quickly — especially in Miami where AC, plumbing, and condo building logistics are part of normal life.
The biggest cost trap: low management fee + fees everywhere else
Be careful with very low advertised monthly fees.
I’m not saying a low-fee company is automatically bad — but the economics are what they are. If a company charges 5%–6% and offers full service, they still have to pay for:
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staff
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leasing operations
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tenant communication
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accounting
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after-hours calls
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maintenance coordination
So if the monthly fee is low, owners should ask how the company makes the money back.
Here are the most common ways:
1) Repair markups (the sneakiest one)
Some companies add 10%–30% on top of vendor invoices.
Example:
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Vendor invoice: $450
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20% markup: $90
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Owner pays: $540
That difference can easily exceed the “savings” from a lower monthly management fee.
Ask this directly:
“Do you mark up repairs or vendor invoices?”
If yes, ask: “What percent?” and “Is it on labor, materials, or both?”
2) Hidden admin fees and micro-charges
Some agreements include charges for things that feel like normal management:
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work order fees
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tenant portal fees
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statement fees
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lease document fees
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notice posting fees
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“coordination” fees
One or two small charges isn’t unusual. A long menu of fees is a red flag.
Ask this:
“Can you send your full fee schedule in writing?”
3) Mandatory programs
Some companies require add-ons like:
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required inspections every X months
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required HVAC servicing plans
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“resident benefit packages”
- Eviction Protection Package
Sometimes these are legitimate. Sometimes they’re revenue streams dressed up as “standards.”
Ask this:
“What fees are mandatory beyond management + leasing + renewal?”
4) Cutting service to cut costs
This part matters more than most owners realize: some low-fee models work by reducing labor cost, which can mean:
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high tenant-to-manager ratios
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outsourced call centers
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slower response times
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minimal follow-up on maintenance issues
On paper it looks fine. In real life, the owner pays for it through longer vacancy, tenant frustration, and more turnover.
Why the cheapest option is often the most expensive
Owners usually focus on the percentage, but the things that cost the most over time are:
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vacancy
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bad tenants
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maintenance delays
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repeat repairs
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poor communication
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building violations in condos
A great manager can be the difference between a smooth, long-term tenant and constant turnover.
So when you compare pricing, you should compare the whole system, not just the monthly rate.
What Novel Management charges (clear and simple)
To make this easy and transparent, here is our fee structure at Novel Management:
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Monthly management fee: 9%
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Leasing fee (new tenant placement): one month’s rent
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Renewal fee: $100
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Repair markups: none
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Hidden fees: none
If a vendor charges $400, you see $400. We don’t inflate invoices with percentage add-ons.
We built it this way for one reason: owners should be able to predict their costs and trust the numbers.
How to compare property management proposals (apples-to-apples)
When owners tell me “Company A is cheaper,” I usually ask one question:
“Cheaper based on what — the monthly fee, or the total cost across a year?”
Here’s a simple way to compare companies:
Step 1: Assume one real year of ownership
Pick a realistic scenario:
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12 months of management
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either one new lease or one renewal
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normal maintenance events (Miami reality: AC, plumbing, appliances)
Step 2: Ask each company for the “real annual cost”
Not a guess — an actual breakdown of:
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monthly management fee total
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leasing fee (if applicable)
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renewal fee (if applicable)
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maintenance markups (if any)
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any admin/mandatory fees
Step 3: Ask the questions that reveal the truth
If you only ask about the monthly fee, you won’t learn anything.
Ask these instead:
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Do you mark up repairs? If yes, how much?
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Do you receive referral fees from vendors?
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Who answers tenant calls and maintenance requests — in-house or outsourced?
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What is your typical response time for maintenance requests?
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What are your screening standards (income, credit, background)?
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Can I see your full fee schedule in writing?
Transparent companies will answer quickly. Companies with hidden pricing usually get vague.
What owners should look for beyond the fee
Pricing matters — but here are the service points that protect your investment:
Tenant screening standards (non-negotiable)
Screening is where most “cheap management” fails. One bad tenant costs more than a full year of management.
Ask exactly what they verify:
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income
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employment
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credit
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background
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rental history
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eviction history
Maintenance coordination with documentation
Fast repairs matter, but so does documentation. Owners should receive:
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vendor invoices
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clear notes
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photos when relevant
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approval requests above a set threshold
Strong communication
If a company can’t communicate clearly before you sign, it won’t get better after.
You want:
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fast owner responses
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clear processes
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consistent updates
So… what does property management “really” cost in Miami?
In most cases, a realistic 2026 owner cost looks like:
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a monthly management fee (8–12% typical)
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a leasing fee when you place a new tenant (often one month’s rent)
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a renewal fee (varies)
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and the “hidden layer” — markups and add-ons — depending on the company
If you want a straight answer: the cheapest-looking proposal is often not the cheapest outcome. The proposal that’s easiest to understand is usually the one that protects you best. Checkout our Pricing Page.
