Overview
Management fees are how you get paid for managing a property — finding tenants, collecting rent, handling maintenance, and more. You can set up your fee structure once for all properties, or customize it for specific properties that need different arrangements.
Note: Management Fees are not available to Starter Plans. Consider upgrading to the Pro or Premium Plans to access this feature.
Walkthrough Video
Set Up Management Fees and Configuration Walkthrough Video Link.
The Steps
Company default management fees settings allow you to configure a management fee rate for all your properties to use.
To set up your company's management fees settings, click Settings on the main menu. Then under the Property Settings section, click Fees Settings.
On the Fees Settings window, click the Management Fees tab.
On the Management Fees settings, under the Payment Recipient section, select the appropriate vendor (your property management company) in the Select Vendor dropdown menu. (Be sure to set your property management company as a vendor first. Click the Create New button at the top of the main menu to add your company as a vendor before configuring management fees. Read this article on how to add a vendor.)
In the Set Up Your Management Fee Structure section, start off by clicking the Add Fee button under the Configure Management Fee section. You will have three choices here when selecting your fee type:
Percentage of charges posted (Accrual Basis) - If your fee is based on the charges to tenants, regardless of their payments, pick this method. This calculates the fee as a percentage of charges created on leases for the revenue accounts you choose. Select the Base Category (such as rent) for the management fee and enter the Fee percentage. Choose the Expense Category (Management Fees) for the fee, such as the default Management Fees expense account. Use the Add Another Fee link to charge a fee on another base revenue account.
Percentage of charges posted (Cash Basis) - If your fee is based on the actual money you collect from tenants, pick this method. This calculates the fee as a percentage of payments received for the revenue accounts you choose. Select the Base Category (such as rent) for the management fee and enter the Fee percentage. Choose the Expense Category (Management Fees) for the fee, such as the default Management Fees expense account. Use the Add Another Fee link to charge a fee on another base revenue account.
Flat Fee - If you charge a set, non-percentage fee every month, pick this option. Enter the Fee amount and choose the Expense Category (Management Fees) for the fee, such as the default Management Fees expense account. Use the Add Another Fee link to add additional fees if necessary.
If you have a minimum fee you collect, toggle on the setting for Set a Minimum Fee. This ensures your management fee will at least be the amount entered here. (Once the total of your other fees exceeds this amount, DoorLoop uses that total instead.) Enter the Fee amount and choose the Expense Category for the fee.
In the Set Up Payout Categories section, click Add Account if there's an account in your chart of accounts for which your management company keeps the total amount, passing nothing on to the owner. These accounts won't show up as revenue on the Profit & Loss report or the Owner Statement.
Use the dropdown to select the account, and the Add Account link if you need to add others.
Click Save to finish.
Tip: Use Payout Accounts if you plan on keeping 100% of the income from accounts such as Late Fees, Applications Fees, Convenience Fees, etc. For more detail about Payout Accounts, read Set Up Your Management Payout Categories.
Tip: Property-Specific Management Fees
You can override the company default with a unique management fee structure for a specific property — useful if you charge a property owner a different fee than your default.
Click Rentals > Properties, and select the property.
Then on the property, click Settings > Fees Settings > Management Fees.
Make sure "Enable management fee for this property" is toggled on — otherwise, management fees will not be collected for this property at all.
Choose "Specify management fee structure for this property" if you want a fee structure different from the company default. If you select this, you'll also need to choose a vendor for this property, just like the company-level setup.
Set the rest of the fee structure the same way as the company-level steps above.
Note: If you have different units on the same property owned by different owners with different management fee structures, create a new property for each unit so you can set up different management fees for them.
Preview your management fee setup
As you set up your management fees, you'll notice a Simulation window on the right-hand column showing exactly how your calculations work based on your settings. Click Edit Inputs to change the default amounts used.
Next Step
Create and Pay Management Fee Bills - Now that you've set up your management fees, the next step is to create and pay your Management Fees.