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Obviously this depends on the location and the management company. Mine takes 50% of the first month's rent for finding & qualifying a new tenant, then 8% of t
by chiph 3y ago
Obviously this depends on the location and the management company. Mine takes 50% of the first month's rent for finding & qualifying a new tenant, then 8% of the following rent payments. So far they have done a decent enough job - I just have to prod them on repairs to not use the absolute cheapest approach (my theory is a nicer house can justify a higher rent, vs. all the ones in the market that are run by corporate landlords and look like it)
- JohnFen 3y ago> to not use the absolute cheapest approach Can I just say -- you rock. I've been a renter my whole life (I prefer it that way), and I appreciate when the property owner steps in to keep property management companies from being total cheapskates with repairs. It makes sense -- it's the owner's investment, after all, and I don't mind paying a bit of a premium for a place that is well maintained.
- nradov 3y agoIt's common for property management companies to arrange for kickbacks with certain repair contractors. I'm not claiming that any particular management company is corrupt but I know of cases where this has happened and it's tough for absentee landlords to detect.