Getting Multi-family in Minneapolis Market - Property Management

[Grace W.]

Due to frequent and increasingly unfriendly landlord tenant laws in my market, we're selling a property in Seattle to buy a multi-family in the Minneapolis market.  Obviously I'm going to need property managers for an out of state location, but we've never had to deal with property managers before and have been very hands on with our rentals. What should I look for and how much should I expect to pay?  I'm hearing that it should be 10% of the rent. Is that the average?  What should I expect managers to do for me and what should I expect to keep myself in the loop on.  

[Armin Nazarinia]

@Grace W.- Fairly consistently I've seen the price of property management at about $99/month per unit if it's single family and about 1 month or half a months rent for placement. Make sure to ask about markups for repairs and be aware of the additional maintenance items in Minnesota compared to Seattle. Minnesota you'll deal a lot more with winter and what it'll do to your home so just make sure to budget for that. It was a bit more of a shock to me coming from Utah you have different things you have to work through.