01
Tenant placement
Marketing the vacancy, showings, screening applicants and signing the lease. Some owners hire a manager for this step only.
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Renting out a property
Find a property manager who knows your local rental market.
Explore city guides to choosing a manager, how management fees work, what a management agreement covers and the landlord rules that apply.
Renting out a home is local. Compare managers on their experience with your type of property, neighborhood and tenants, rather than choosing on promises alone.
Management fees are set by each company and agreed in your contract. Ask for every fee, the services included and how the agreement ends, in writing, before you sign.
The work
How a property manager can help
02
Full management
Rent collection, maintenance and repairs, tenant communication, inspections, renewals and monthly owner statements.
03
Repairs and maintenance
Ask who approves repairs, the spending limit before they call you, and whether they mark up vendor invoices.
04
Move-outs and security deposits
Move-out inspections and deposit returns follow state law. Ask how they document the condition of the unit and meet your state's deadlines.
Plan the budget
Understand property management fees
Each company sets its own fees, and they are agreed in your management agreement. Fees may be a share of collected rent, a flat monthly amount or a mix, and leasing, renewal, maintenance and termination fees are often separate. Ask for every fee in writing and compare the total cost, not just the monthly rate. Henry is free for owners; managers pay $5 per month per county for one of three spots, and Henry takes no cut of their fees.
| Scope | Planning range | What changes it |
|---|---|---|
| Monthly management fee | Set by the company | Ask whether it's a share of collected rent or a flat amount, and when it's charged. |
| Leasing / tenant placement fee | Set by the company | Ask what's included: marketing, showings, screening and lease signing. |
| Renewal, maintenance and termination fees | Agreement-specific | Ask for each one in writing, including any markup on repair invoices. |
Rental income and the costs of managing it, including management fees, are reported for federal taxes under IRS rules for residential rental property. See IRS Publication 527 and ask a tax professional about your situation.
For most homes built before 1978, federal rules require landlords to disclose known lead-based paint hazards and give tenants the EPA lead pamphlet before a lease is signed. Ask how a manager handles this disclosure.
Number of units, property condition, how often tenants turn over and the services you choose all change what you pay. Compare quotes on the same scope.
Know the signs
Landlord rules a manager should know
Landlord-tenant law, security deposit limits and deadlines, notice periods and rental registration rules vary by state and city. A good manager can explain the rules that apply to your property; ask a local attorney about anything uncertain.
The federal Fair Housing Act prohibits discrimination in renting based on race, color, national origin, religion, sex, familial status and disability. Ask how the manager keeps screening consistent and fair.
Ask how they hold security deposits and rent, how often you get statements, and how they return deposits within your state's deadline.
Ask whether your city requires rental registration, inspections or a business license, and who handles it.
No pressure
Want a pro to look at it?
You don't need to diagnose the job before you ask for help. Tell Henry what you see and compare up to three local property managers.
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How to choose a property manager
Many states regulate managing rentals for others under real estate licensing law, so a manager may need a real estate broker or property management license. Check with the official real estate regulator in the state where the property is located, search its public license lookup by the company or person's name, and confirm the license is active.
1
Check your state's real estate regulator for any license required to manage rentals.
2
Ask how many properties they manage like yours, and in which neighborhoods.
3
Get every fee in writing and compare the total cost.
4
Read the agreement's term, termination terms and repair spending limit.
5
Ask for a sample monthly owner statement.
Walk away when you see these
Guaranteed rent or occupancy promises.
Fees that aren't in the written agreement.
Long agreements with costly or unclear termination terms.
Vague answers about how deposits and rent are held.
Questions homeowners ask
Property manager matching, answered plainly.
Are property management fees negotiable?
Each company sets its own fees, and they are agreed in your contract. Ask for every fee in writing and compare the total cost across managers.
Does a property manager need a license?
It depends on the state. Many states regulate managing rentals for others under real estate licensing law. Check with your state's real estate regulator.
Can I hire a manager just to find a tenant?
Many managers offer tenant placement only. Ask what's included and whether you can switch to full management later.
Who handles repairs?
Your agreement should say who approves repairs, the spending limit before they contact you, and whether vendor invoices are marked up.
Is matching free?
Yes. Matching costs you nothing and does not obligate you to hire. Management fees are agreed separately with the manager you choose.
Local market guides
Find your city and see what the work costs there.
Each city page covers local labor pricing, weather, permits, licensing, neighborhoods and the contractors Henry can match in that market.
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Ready to talk to a local property manager?
Tell Henry what you need. We’ll send your project to no more than three local pros — and you decide whether any of them earns your business.
Sources: HUD: Fair Housing and Equal Opportunity · IRS Publication 527: Residential Rental Property · EPA: Lead-Based Paint Disclosure Rule for Sales and Rentals
The Henry Standard
Choose a manager with clear terms.
Check the license
Use your state real estate regulator's lookup to confirm any license your state requires to manage rentals.
Compare written agreements
Review every fee, the term, termination and repair spending limits before signing.
Your choice
Speak with local managers and choose who fits your property — or choose nobody.
Nothing revolutionary. Just the way we believe doing business should still be done.
Renting out a property
Renting out a property? Start with a manager who calls you back.
Tell Henry about your rental once. Up to three local property managers reach out, and you pick the one you trust — or nobody.
How it works
- 1. Tell us about the rental. The property type, whether it's rented, the help you want, and the ZIP.
- 2. Up to three managers get it. Only managers who work your area, and never more than three.
- 3. You choose. Talk to them, compare, and pick one — or pick nobody.
- Up to three local property managers — never a list of twelve
- Free for you, no obligation to sign with anyone
- Need work on the rental? The same Henry finds your painter, roofer, or HVAC pro
Quick question first
What can Henry help with?
Pick the one that fits. It's free for homeowners.