HERO OR ZERO – By the Numbers

When people ask me whether we would recommend our property manager, I just cringe. And usually say “The lack of communication and poor paperwork drives me nuts, but we are getting higher rents and it is REALLY nice to not have to deal with them as closely.”

Last year was a great year, we earned $21K. Our target for this year was $17K. We are on target to hit $21K again this year. Same high income with less stress.

We’ve paid $2800 in PM fees this year. I estimate the PM has generated $4500 in incremental rent revenue, by aggressively raising rent with each turnover. We’re going to raise rent this spring on our self managed units, but we are not on the leading edge by any means.

On the down side, one of our units did not have any rent paid for an entire month, in addition to the earlier eviction. $600 was our share of the eviction costs. And I estimate our utility costs (water sewer garbage) are $800 higher than they would otherwise be due to odd usage not being dealt with timely.

I must admit that my perception is a zero, but she does seem to be a bit of a hero.