Start your membership account today...  Access to credit reports, 100's of rental specific forms, agreements, letters, checklists, how-to articles, guides, expert advice and much more!  Even a FREE, 3-day trial!

Not a Member?
Get a Free Trial Membership

  Get FREE Stuff! Run Credit Report Rental Forms  Shop & Buy Forms!  Advertise Your Rental Customer Care

Welcome to Landlord.com's Discussion Forum
Register Latest Topics
 
 
 


Reply
  Author   Comment  
alexiscooper5

Registered:
Posts: 28
Reply with quote  #1 
How property management companies works, and what they will do?
__________________
Simply Residential Property Management
NoNonsenseLandlord

Registered:
Posts: 178
Reply with quote  #2 
They do whatever is agreed upon.

Property management companies answer the phone, and arrange maintenance.  They collect rents and handle marketing between tenants.   Most everything they do costs extra.

What do they do for a standard fee?  Just answer calls, and arrange a maintenance company to come out.  You will pay ~$100 per hour for their services.

Here is my take on the risks of using a property management company.

__________________
http://www.NoNonsenseLandlord.com/

Landlording for maximum profitability and Financial Independence

alexiscooper5

Registered:
Posts: 28
Reply with quote  #3 
Hey Thanks a lot for it.
__________________
Simply Residential Property Management
undergroundlandlord

Registered:
Posts: 13
Reply with quote  #4 
NoNonsense I couldn't agree more. I have about 12 homes some modular and some stick built that I rent out. 4 of these are 4 hours away from me. I have kicked around the idea several times of at least turning the ones so far away over to someone to manage however as you say the 10 percent starts to add up. Not only that as you also know there are a lot of folks in the world with no integrity and property managers are no different. A bad one can get you for lots of so called repairs before you realize whats going on.


__________________
for free landlord to landlord tenant ratings, http://www.undergroundlandlord.com
BritneyR

Registered:
Posts: 224
Reply with quote  #5 

Property management companies provide services such as home maintenance, inspections, tenant screening, rent collection etc.

 


__________________
Hunter Rentals & Property Management

OHlandlord

Registered:
Posts: 3,716
Reply with quote  #6 
You need to vet your property manager better.  In this area, the placement costs are 1/2 month of rent to place a tenant (advertise the property, do showings, take applications, screen tenants, and sign the lease paperwork).  For management, the fees are 8-10% of the rent.  This covers collecting rents, posting notices, accounting, scheduling repairs (the owner pays for labor and materials), inspections, deposit statements to tenants, and other routine tasks.  Extra fees are charged for accompanying an owner/attorney to court, for arranging improvements (not repairs), to act as general contractor on large projects, or for normal turnover costs.  Remember, tasks and fees are always negotiable.  Have the agreed items written into your management contract.
Previous Topic | Next Topic
Print
Reply

Quick Navigation:

Easily create a Forum Website with Website Toolbox.

Apartment Finders > > Member Log-in > Free Trial Offer > Free E-newsletter > Customer Service > Get Free Stuff! > Run Credit Report > Rental Forms > Vacancy Center > Do-it-yourself > Evicting Your Tenant > Foreclosure Resources > Landlord Discussion Board > Income Tax Resources > Information Center > Join Landlord.com > Landlord Law > Library > Multi-family > Professional Advice > Rental & Property Mgmt > Rent Collection > Repair & Maintenance > Security Deposit > Software Center > Tenant Screening > Vacation Homes > What's New > Rental Agreements > Free Leases > Inside Our E-store > > Security Deposits > > Landlord Daily News > Rental Agreements >
LandscapingSanJose.net Resources: Cleaner Sunshine coast