How Much Does Property Management Cost in Miami? My Honest Breakdown as a Local Owner
If you own a rental property in Miami, you’ve probably asked this question already:
“How much does property management really cost here—and is it actually worth it?”
I get it. As both a property owner and the owner of PMI Miami Coast, I’ve been on both sides of that decision.
The short answer is: it depends.
The more important answer is: it depends on what you’re actually getting, not just the percentage being advertised.
Miami is not a forgiving rental market. The wrong decision doesn’t just cost convenience—it costs real money. So I want to break this down honestly, based on what I see every day working directly with property owners across Miami-Dade.
Average Property Management Fees in Miami
Most property management companies in Miami charge a percentage of the rent collected each month.
What I typically see:
7%–10% of monthly rent for long-term rentals
Sometimes a minimum monthly fee on lower-rent properties
Real example:
$2,500/month rent
8% management fee
Monthly cost: $200
On the surface, that seems simple. But focusing only on the percentage is where most owners go wrong.
In Miami, the real question isn’t “What’s the fee?”
It’s “What problems does this fee actually protect me from?”
That’s why at PMI Miami Coast we use tiered management plans, instead of pretending one flat setup works for every owner.
PMI Miami Coast Property Management Plans
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Miami property management pricing plans including PMI Essential, PMI Shield, and PMI Shield Plus
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PMI Miami Coast property management plans designed to protect rental owners from common risks in the Miami market.
Why Pricing in Miami Is About Risk, Not Just Cost
At PMI Miami Coast, our structure combines a competitive 8% management fee with optional monthly protection plans. I built it this way intentionally.
Here’s why.
Miami rentals come with risks that don’t exist in many other markets:
HOA rejections and violations
Tenants unfamiliar with condo or association living
Fast-escalating fines
Evictions that get expensive quickly
Property damage that spirals if it’s not handled early
Different owners have different risk tolerance, so I don’t believe in forcing everyone into the same box.
Here’s how most owners use our plans:
PMI Essential is usually chosen by experienced owners who want solid, professional management without extra coverage.
PMI Shield is our most popular option because it adds protections like guaranteed rent periods, eviction coverage, and damage protection. In my experience, avoiding just one major issue can more than justify the cost.
PMI Shield Plus is for owners who want maximum protection, including liability coverage and enhanced marketing tools. This makes a lot of sense for higher-value homes or owners with multiple properties.
Most of my long-term clients prefer a preventative approach rather than reacting after something goes wrong.
What Property Management Should Actually Include in Miami
A legitimate property management fee should cover more than just collecting rent.
At a minimum, owners should expect:
Rent collection and owner disbursements
Tenant communication
Maintenance coordination
Vendor oversight
Lease enforcement
Financial reporting
But in Miami, good management also means:
Handling HOA approvals and compliance
Managing violations before they become fines
Coordinating insurance issues when needed
Making sure vendors are properly licensed
These are the areas where I see owners get burned the most when management is weak or inexperienced.
Additional Fees Owners Should Understand Upfront
No management setup is completely fee-free. What matters is clarity.
Leasing / Tenant Placement
Typically 50%–100% of one month’s rent
Covers marketing, showings, screening, lease prep, and HOA coordination
Lease Renewals
Some companies charge $150–$300
Others include it — always ask
Maintenance & Repairs
Usually billed at cost
Emergency calls and after-hours issues can increase costs
In South Florida, preventative maintenance matters more than people expect. Waiting usually costs more.
Why “Cheap” Property Management Gets Expensive Fast
I’ve taken over a lot of properties after owners tried to save money on management.
What usually went wrong:
Poor tenant screening
Slow response times
Missed HOA issues
Deferred maintenance
Long vacancies
In more than a few cases, the owner saved a few hundred dollars a year in management fees and lost thousands because of preventable problems.
Miami doesn’t give you much margin for error.
Is Property Management Worth It in Miami?
In my opinion, yes — especially if:
You don’t live locally
Your property is in an HOA or condo
You own more than one rental
You value your time
You want predictable cash flow
Good property management isn’t about convenience. It’s about protecting your investment and keeping small issues from becoming big ones.
What I’d Ask Before Hiring Any Miami Property Manager
If you’re interviewing companies, ask these questions:
How many properties does each manager handle?
How do you deal with HOAs and violations?
Do you perform regular inspections?
How are vendors vetted?
What happens if a tenant stops paying?
If the answers are vague, that’s usually a red flag.
Final Thoughts
Miami is a great rental market—but only if it’s managed correctly.
Understanding the real cost of property management helps you avoid surprises, protect your asset, and keep your returns where they should be.
If you’re not sure whether your current setup is helping or hurting your bottom line, getting a second opinion can be eye-opening.
About the Author
Jesse Rodriguez is the owner of PMI Miami Coast, a full-service property management company serving Miami-Dade and surrounding areas. I work hands-on with property owners to help them protect their investments, stay compliant with local rules, and maximize long-term returns.
👉 Request a Free Rental Analysis:
https://www.pmimiamicoast.com/free-rental-analysis
