Ongoing management
10% of collected rentCharged on rent UM actually collects.
Request a fee reviewRochester owner guide
What does property management really cost?
The monthly management percentage is only one line. The useful comparison is the total cost of operating the property over a full year—and whether the manager’s incentives match yours.
Compare the complete fee structure
The number that matters
Total annual cost—not the advertised rate.
Two managers can quote the same monthly percentage and produce very different owner costs. Leasing charges, renewal fees, maintenance markups, inspection fees, turnover frequency, vacancy, and the owner’s time all affect the result.
Updegraff standard schedule
The numbers, in plain English.
These are UM’s standard charges from the fee schedule effective January 1, 2025. Your written proposal and signed agreement control if a property requires a different scope.
New lease placement
$600 or one-half month’s rentWhichever amount is greater, per newly rented unit.Lease renewal
$110Per renewed lease, per unit.Extended vacancy
$75 per monthAfter a unit remains vacant more than one month with no immediate intent to reoccupy.Routine maintenance labor
$90 per hour plus materialsRequired New York State tax is additional.Emergency / after-hours labor
$120 per hour plus materialsRequired New York State tax is additional.Vendor coordination and oversight
Negotiated vendor cost plus 10%Applies to listed outsourced services such as HVAC inspection, gutter cleaning, seasonal cleanup, mowing, and snow plowing.Owner approval threshold
$950UM requests approval before routine work above this amount; emergency health-and-safety exceptions are addressed under the agreement.Owner-requested bill payment
$10 per billFor bills not related to resident services, such as mortgage, tax, or insurance payments.No setup fee is listed in the standard schedule reviewed for this page. Cancellation, legal, construction, tax, materials, and third-party costs can apply under the signed agreement. Ask for the complete agreement before deciding.
Side-by-side review
Ask for every charge in writing.
Use the same property and the same 12-month operating assumptions when comparing proposals.
Cost areaWhat it may coverWhat to ask
Ongoing managementMonthly percentage or flat feeWhat is included, excluded, or separately billed?
LeasingMarketing, showings, screening, and lease preparationIs the charge a flat amount, a percentage, or a full month of rent?
RenewalsLease renewal or extension chargesIs there a fee every time a resident renews?
MaintenanceCoordination, after-hours response, and vendor oversightAre there markups, minimums, or project-management charges?
Inspections and administrationRoutine visits, notices, reporting, and document handlingWhich services trigger an additional charge?
TurnoverVacancy, make-ready work, utilities, cleaning, and lost rentDoes the manager benefit financially when residents turn over?
Transition and cancellationOnboarding, records, account setup, and exit termsWhat will it cost to start—or to leave?
Our incentive structure
A lower lease-up fee is intentional.
We use lease-up pricing as a commitment to the longer management relationship. Our goal is to support durable tenancies and well-run properties—not to create revenue by unnecessarily cycling residents through units.
That does not mean every tenancy lasts forever or every turnover is avoidable. It means our fee structure should not reward preventable churn.
Count the visible fees
Management, leasing, renewals, inspections, administration, maintenance coordination, projects, onboarding, and cancellation.
Count the operating effects
Vacancy, turnover, resident retention, unresolved maintenance, communication delays, and the quality of owner reporting.
Count the owner’s time
Every hour spent chasing updates, reconciling statements, supervising vendors, or correcting preventable errors is part of the cost.
Standard pricing does not mean generic management.
A single-family home with a stable resident, a vacant four-unit building, and a larger apartment community do not require the same transition or operating plan. We publish the standard schedule so owners can compare honestly, then review the property type, unit count, condition, leases, maintenance history, and requested scope before presenting the controlling proposal.
Bring your current proposal
We’ll compare it line by line.
Send us the current management agreement or fee proposal. We’ll help identify the charges, operating assumptions, and incentive differences that matter for your Rochester property or portfolio.
A useful review includes:
- Current fee schedule or proposal
- Property type and unit count
- Rent roll and lease status
- Vacancy and recent turnover
- Open maintenance or transition issues
Frequently asked
Before you compare.
Is the lowest monthly management fee always the least expensive?
No. A low monthly percentage can be offset by higher lease-up, renewal, maintenance, inspection, administration, or cancellation fees. Compare the complete fee schedule and the operational results the manager is responsible for.
Why does Updegraff Management use a low lease-up fee?
We want our long-term economics tied to managing durable tenancies, not repeatedly turning units. A lower lease-up charge helps keep the incentive focused on the longer owner relationship.
Does Updegraff Management use the same agreement for every property?
The standard fee schedule is shown on this page, but property type, unit count, condition, existing leases, transition complexity, and requested services can change the final scope. The written proposal and signed agreement control.
What should a Rochester owner bring to a management-cost review?
Bring the current fee schedule, leases, rent roll, recent owner statements, maintenance history, open work orders, vacancy information, and any notices or unresolved resident issues. Those records help reveal the real operating cost.