How Much Does Property Management Cost in Rhode Island?
- Kristen Hrabcsak
- Aug 14
- 4 min read
A Complete Guide from The Hennessy Group
Owning rental property in Rhode Island is a smart investment but it’s also time consuming. A professional property management company in RI like The Hennessy Group takes on the day-to-day tasks so that property owners can take back their time. Property management companies help with functions such as finding qualified tenants, handling maintenance, collecting rent, and staying on top of legal compliance.
One of the first questions owners ask us is: “How much will property management cost in Rhode Island?”
There are a few factors that pricing can depend on including property type, the level of service you choose, and your long-term investment goals. In this guide, we’ll break down the typical fee structures, what’s included, and why investing in property management pays for itself.
Understanding Property Management Fee Structures
At The Hennessy Group, our fees are designed to be transparent, competitive, and aligned with your needs. Most property management pricing in Rhode Island follows one of two models: percentage-based or flat-rate.
Percentage Based Fees
This is the most common approach in the industry. We charge a set percentage of the monthly rent collected for your property.
At The Hennessy Group, we work with a percentage based fee structure.
• Monthly management fee: Usually 6–9% of collected rent
What’s Included in The Hennessy Group’s Management Fee?
When you hire The Hennessy Group, you’re not just paying for someone to collect rent, you’re paying for a full service property management team that treats your property as if it were our own.
Our core management fee covers:
Marketing & Advertising - Professional listing creation with photos, syndication to top rental platforms, and strategic marketing to minimize vacancy.
Tenant Screening - Comprehensive credit checks, background checks, income verification, and rental history review.
Lease Preparation & Execution - Legally compliant lease agreements that protect your property and your income.
Rent Collection - Online and in-person payment options, plus prompt follow-up on late payments.
Maintenance Coordination - 24/7 response to tenant maintenance requests and emergencies, using vetted vendors.
Accounting & Reporting - Monthly owner statements and year-end tax documents for easy financial tracking.
Legal Compliance - Ensuring your property meets Rhode Island rental laws, fair housing requirements, and safety codes.
Have more questions about property management? Get them answered by reading our Property Management FAQs.
Additional Fees to Consider
We believe in upfront pricing—no hidden surprises. In addition to the standard management fee, you may encounter the following:
Tenant Placement / Leasing Fee - Covers the marketing, showings, and screening needed to place a new tenant. This fee is typically equal to a month’s rent.
Maintenance Costs - Repairs are quickly responded to by our in-house maintenance team. Owners are consulted for any maintenance requests that involve larger expenses. We also perform preventive maintenance to avoid any emergencies.
Eviction Processing Fee - If required, covers legal paperwork and coordination with attorneys.
These additional fees are only charged when relevant. They’re not ongoing monthly charges unless tied to active services.
Are you looking for HOA or Condo Association Management? Contact us for more info!
Average Property Management Costs in Rhode Island
While exact numbers vary based on property type, service level, and rental income, here’s a general idea of what to expect when working with The Hennessy Group:
Full-Service Management - Average cost in Rhode Island: 8%–10% of monthly rent
Tenant Placement - Average cost in Rhode Island: Equal to one month’s rent
How Property Management Pays for Itself
Some owners hesitate to hire a property manager because they view it strictly as an expense. But the reality is, professional management often increases your net income. Here’s why:
Higher Occupancy Rates
We minimize vacancy by marketing aggressively and ensuring quick tenant placement.
Better Tenants
Thorough screening leads to tenants who pay on time, care for the property, and stay longer.
Reduced Maintenance Costs
Our in-house team and trusted vendor network are reliant and offer competitive pricing, saving you money and time on repairs.
Compliance & Risk Reduction
We keep your property in line with Rhode Island’s landlord-tenant laws, reducing the risk of fines or lawsuits.
Time Savings
Your time is valuable. By outsourcing management, you can focus on other investments or personal priorities.
Factors That Influence Your Cost
Every property is unique, so your management and repair costs can be influenced by:
Property Size & Type - Single-family homes, multi-family buildings, and commercial spaces have different needs.
Number of Units - More units can sometimes mean a lower per unit management fee.
Condition of the Property – Well-maintained properties often cost less in maintenance fees due to fewer repairs.
Level of Service - Full-service management includes everything; partial-service or “tenant placement only” packages cost less but require more owner involvement.
Why Choose The Hennessy Group for Property Management?
Hiring a property management company is more than outsourcing tasks. By choosing us as a partner, we will protect and grow your investment. Here’s why Rhode Island owners trust The Hennessy Group:
Local Expertise - We know the Rhode Island rental market inside and out.
Full Transparency - No hidden fees.
Proven Marketing Strategies - Faster tenant placement, less vacancy, more income.
Tenant-Centric Approach - Happy tenants mean longer stays and less turnover.
Owner Focused Service - We provide clear communication, regular updates, and detailed financial reporting.
Final Thoughts
While property management costs in Rhode Island typically range between 8%–10% of monthly rent for long-term rentals and 15%–25% for short-term rentals, the true value lies in what you get in return:
Higher income potential
Lower vacancy rates
Peace of mind knowing your property is being cared for by professionals
At The Hennessy Group, our goal is to make property ownership stress-free and profitable for every client. We tailor our services to your needs, whether you own a single rental home or a portfolio of properties.
Ready to Get Started?
If you’re ready to learn exactly how much property management will cost for your Rhode Island property and how it can increase your returns, contact The Hennessy Group today for a customized proposal.
Contact us at 401.736.8300 , info@thehennessygrp.com, or through our website.