We don't mark up maintenance. Ever.

If the plumber's invoice is $85, your statement from Serenity shows $85. If the HVAC tech invoices $340, your statement shows $340. We bill maintenance at the contractor's actual cost. Zero markup, zero exceptions, every time.

That sentence is the simplest thing on this page. The rest of the page exists because most owners I talk to don't believe me when I say it — and for good reason. Maintenance markups are the most common hidden cost in property management, and almost every other PM company does them.

What's a maintenance markup, and why should you care?

A maintenance markup is the difference between what your contractor actually charges and what your property manager bills you. Here's how it works at most companies:

1. Your tenant reports a leaky faucet.
2. The PM calls a plumber. The plumber comes out, fixes it, invoices the PM for $85.
3. The PM marks the invoice up — somewhere between 15% and 70% — and bills you $130, or $170, or sometimes $200.
4. The markup is rarely disclosed. It just shows up on your monthly statement as a higher line item than what the contractor actually charged.

Industry-standard markups in residential property management commonly run 15% to 30%. On smaller repairs the percentage can be much higher — I've personally seen $40 garbage disposal installations billed to owners at $200, and $200 plumbing repairs billed at $350. Over a year, on a single rental property, that adds up to thousands of dollars an owner never sees.

The Serenity math, in plain numbers

Here are real examples from actual repairs we've handled in the last quarter. The numbers on the left are what the contractor invoiced us. The numbers on the right are what appeared on the owner's monthly statement.

If you were to take the same work to a property manager who applies an industry-standard 25% markup, here's what you'd actually pay:

Over a year on a single managed property, a 25% maintenance markup typically costs an owner $400–$800. Across a portfolio of three or four properties, it can easily exceed $2,000 a year. Owners who switch to Serenity from a markup-based PM regularly tell us they noticed the difference on the very first statement.

Then how does Serenity make money?

Honest question. Here's the honest answer.

Serenity charges a straightforward monthly management fee based on rent collected — typically 8% to 10% depending on the property type, location, and portfolio size. That's our entire compensation. We don't charge:

• Setup or onboarding fees — we just get to work.
• Lease renewal fees — your tenant renewing is good news, not a billable event.
• Vacancy fees — your unit is empty, you're making nothing, you don't owe us anything.
• Advertising or marketing fees — Zillow and Apartments.com listings are free.
• Maintenance markups — see this whole page.
• "Statement processing" or admin fees — yes, some companies charge owners a fee to send them a statement. That's not a joke.

We make money by managing well. Owners stay with us because they trust the numbers on their statements. Word of mouth brings the next owner. That's the whole business model.

How you can verify it, every month

Every Serenity monthly owner statement includes:

• A line-item breakdown of every dollar collected and every dollar spent.
• The original contractor invoice, attached as a PDF, for every maintenance line item.
• Photo documentation of any significant repair work.
• The direct cell phone number of the owner-operator. If anything looks off — anything — we want you to call.

Compare any line item on your statement to the attached contractor invoice. The numbers will match. If they ever don't, that's a phone call we want to take immediately.

The signed promise

Frequently asked questions

What if a contractor charges Serenity a discounted rate because of volume? Do owners get that price?

Yes. We've built relationships with trusted contractors in Nashville and Lexington over the years, and some of them give us preferred rates because we send them consistent work. When that happens, the discount is passed through to the owner. The contractor's invoiced cost is what appears on the statement — including any volume discount.

Does the "no markup" policy apply to large repairs and capital projects too?

Yes. Whether it's a $40 garbage disposal or a $4,000 roof repair, the rule is the same. The contractor's invoice is what you pay. For larger projects we'll typically get multiple bids and bring the recommendation to you before proceeding, so you can choose the contractor and the price.

How do I know the contractor isn't inflating their invoice and splitting the markup with Serenity?

This is a fair question and a smart one. Two answers: first, the contractors we use are independent and most of them work with multiple property managers — they don't have an exclusive deal with us. Second, you're welcome to call any contractor on any invoice and verify the amount with them directly. We'll provide contact information. Owners almost never do this, but the option is on the table.

What about maintenance work I want to handle myself or use my own contractor for?

Totally fine. Many of our owners have a brother-in-law who does HVAC or a neighbor who's a plumber. Send them. We coordinate the access with the tenant, you handle the billing directly with your person, and the work doesn't appear on our statement at all. No coordination fee, no "outside vendor" fee, nothing.

What's the catch?

Honest answer: there isn't one. We make less per repair than a marked-up competitor would. We make it up by keeping owners for years, getting referrals from those owners, and never having to explain a surprise charge. It's a slower business model but it's a more honest one.

Are you taking new owners right now?

Yes — but with a cap. As an owner-operated firm we deliberately limit how many new properties we take on each month, typically one or two new owners per month. If we're at capacity, we'll tell you straight and we'll suggest two or three other firms in your market we think do honest work. We won't take a property we can't manage well.

Get a real quote — usually same day

If your current monthly statements include any line items you can't trace back to a contractor invoice, those are likely markups. Send us your property address and we'll give you a no-obligation quote that includes a straightforward management fee, the contractor-cost maintenance policy, and an honest estimate of what your property should rent for.

→ Get a free rental analysis and quote

Or just call: (615) 585-4086. The owner-operator answers.