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Property management companies work for landlords by handling the day-to-day operations of a rental property to maintain its value and generate income. Their tasks are divided between tenant management - including marketing, screening and rent collection - on one hand, and property upkeep, accounting and legal compliance on the other.

Property management companies typically charge a monthly management fee of 8% to 12% of the monthly rent collected, but this can vary by location and property type. They may also charge additional fees for services like tenant placement (often 25-75% of the first month's rent), leasing, lease renewals, annual inspections, and maintenance. Some companies offer a flat monthly fee instead, which can range from about $100 to $200 per unit, depending on the market.

Property management companies handle the day-to-day operations of a rental property, including finding and screening tenants, collecting rent, and managing maintenance and repairs. They also handle administrative tasks like bookkeeping, legal compliance, and tenant relations to keep the property running smoothly and maximize profitability for the owner.

Property management companies typically make money through a percentage of monthly rent, often 8%–12%, and by charging extra fees for services like leasing, maintenance markups, and evictions. Overall profit margins average around 10% to 15%. Revenue varies significantly, from solo ventures earning around $45,000 to companies with over 51 properties making up to $2.7 million.

Property management companies work for landlords by handling the day-to-day operations of a rental property to maintain its value and generate income. They manage tenant relations by marketing vacancies, screening and selecting tenants, and collecting rent. They also handle maintenance, repairs, property accounting, and ensure compliance with legal and local regulations.