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Updated almost 11 years ago,
How much commission should I ask for providing leads to Property Management Company?
My mentor / business partner who is showing me the ropes in RE is starting his own property management business after being in the real estate game for 13 years.
He is offering me a job in said property management business as an on-call maintenance person, and also said he can pay me to do yellow letters for him (I currently send out a lot of them for my own investing purposes).
He said he can either pay me for each letter, or a 10-15% commission on income from any leads I generate (so if I land him a property that he makes $150/mo on, I would make $15-$22.50/mo on each property. 20 properties = $300-$450 / mo total).
Either way, he will pay for all the material and postage- so I'll just be taking care of the rest (printing, packing, sending). I'm pretty sure I'll be answering the calls but I'll meet with him tomorrow to go over exact details.
He has experience in property management, and I know if well managed, there won't be much turnover.
The question is: how can I keep track of what accounts I land him, and how do I prevent him from just deciding to stop paying me the passive income?
Any input is appreciated. Many thanks,
Eric