October 29, 2026
If you own a rental in Edmonton, one of the first questions about hiring a property manager is simple: what will it cost? The answer depends on what’s included, so this guide covers the typical fees in Alberta, what a management fee should cover, the extra charges worth asking about, and how to tell whether a property manager pays for itself.
Typical property management fees in Edmonton
Most property managers in Alberta charge two main fees.
- A monthly management fee of 6% to 12% of the monthly rent for individual units. On a home renting for $2,000 a month, that’s $120 to $240 a month.
- A leasing or placement fee each time a new tenant is found, usually 50% to 100% of one month’s rent. On the same home, that’s $1,000 to $2,000. It typically covers advertising, showings, screening and the lease.
Larger buildings are often priced differently, with a flat fee per unit or a custom agreement. Those figures come from FirstService Residential’s 2026 guide to property management pricing in Alberta.
What a property management fee should include
A lower percentage isn’t always cheaper if half the work is billed as extras. A full-service fee should cover:
- Rent collection and monthly payouts to you
- Tenant communication, including after-hours emergencies
- Maintenance coordination with trusted trades
- Regular inspections, plus move-in and move-out reports
- Lease renewals and notices under Alberta’s Residential Tenancies Act
- Monthly statements and year-end reporting
Tenant finding and screening is often billed separately as the leasing fee, so check whether it’s part of the monthly fee or not.
Extra fees to ask about before you sign
The monthly percentage is only part of the cost. Before signing a management agreement, ask about:
- Lease renewal fees each time a tenant renews
- Vacancy fees charged while the property sits empty
- Maintenance markups, where the manager adds a percentage on top of every repair invoice
- Setup or takeover fees when you switch from another manager
- Early termination fees if you end the agreement before its term
Ask for every fee in writing. A good property manager will show you the full cost on one page.
Is a property manager worth the fee?
The biggest cost for most owners isn’t the management fee. It’s an empty month. A home renting for $2,000 loses about $66 for every day it sits vacant.
That’s why leasing speed matters as much as the percentage. As an example, a home leased in 18 days instead of 45 earns about $1,775 more in rent on a $2,000 lease, which covers more than a year of management fees at the low end of the range. Add fewer late payments, better-screened tenants and repairs handled before they grow, and a good manager often pays for itself.
How Best Step prices property management
At Best Step, we quote after a free rent assessment, because the right fee depends on your property type, size and number of units. Every quote spells out exactly what’s included, and there are no hidden fees.
- No markup on maintenance. You pay what the trade charges.
- Rent paid to you by the 20th of every month.
- Faster leasing. Our AI-assisted screening through Tenant Turner leases properties in 18 days on average, against a 45-day industry average.
- Only need a tenant? Our Tenant Placement service is a one-time flat fee of $975.
We manage rentals across Edmonton and St. Albert. See how our property management works, or get a free rent assessment to find out what your property could earn.
Source: FirstService Residential: Understanding property management pricing, 2026 costs and coverages
