Quoted a flat placement fee the authority's calendar then took entirely
I've been building toward the leasing side while I finish licensing, and a small landlord with eight doors asked me to fill three vacant units with voucher holders. He'd been doing it himself for years and hated the paperwork. I quoted 500 a unit, flat, on the assumption that a placement takes me somewhere between two and three weeks of part-time work. That's roughly what my market-rate placements run.
Here's what actually happened on unit one. Applicant identified in six days, good. Request for tenancy approval submitted day 9. Authority came back on day 22 asking for a corrected form because the owner had entered the utility responsibility differently than his own lease said. Resubmitted day 24. Inspection scheduled day 41, failed on a smoke detector location and a loose stair tread. Corrected day 44, reinspected day 58, passed. Contract executed day 66. Tenant moved in day 71.
So 71 days, not 21. Across three units, overlapping badly, I logged something like 90 hours of my own time chasing forms, coordinating an inspector, calming an owner who thought I was slow-walking him, and re-explaining the tenant portion calculation twice. 1,500 of fees. I don't need a calculator to know that's bad.
The other thing I'd flag: leasing activity for compensation is a licensed activity in most states and the definitions differ, so anyone thinking about doing this should confirm the rules with their own state commission before they take a fee.
What I'd do differently: not price a flat fee against a timeline I don't control. I'd also never accept the owner's paperwork at face value again. That corrected form cost me 15 days.