Q Okay, so this is, if I'm just looking at costs, and maybe you can rebuke this in a second, this really isn't competitive until I'm getting a monthly kind of rent of somewhere around 790 bucks per month, because you have typical property managers charging about 10%. Is that accurate or am I wrong?
A Uh, that's not exactly right. So a typical property manager does charge an average of 10% a month. They also charge one month's rent to place a tenant. Uh, they also, uh, usually charge a fee to get started, a fee to renew a lease, and a markup on maintenance. Uh, so generally we find that the average customer is actually paying closer to 12 or 13% a month when you factor in, uh, all those other fees. Uh, the other thing I would mention is that, you know, the vast majority of rental properties in the United States The units rent for more than 790 dollars a month. So even if you're just looking at that 10% number, ah, that's 79 dollars a month. It's still pretty competitive with the standard property management.
AI assessment note: “that's not exactly right. So a typical property manager does charge an average of 10%”