This is roughly estimated to cost about 10% of rental property income. Investors who have limited time, who don't live near their rental property, who aren't interested in hands-on management, or who can afford the cost can benefit from hiring a property management company. It is common for rental property owners to hire property management companies at a fixed or percentage fee to handle all the responsibilities. Administrative-filing paperwork, setting rent, handling taxes, paying employees, budgeting, etc.
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