Does real estate get tiring fast

[Arta Montero]

Hi all,

I have a couple of house rentals. One of the houses is been managed by a property management and feel like it has been a nightmare. I thought once you pay someone things will get easier from a rental standpoint.

Initially there was a lot of paperwork and getting all set up and all that. Then I was encouraged to allow pets and I did.

Property management rented to someone with a dog and a cat. Then I asked them what is the dog rent and they tell me that they keep pet rent in addition to the 8% plus other fees. Pet rent is $70/month in this case.

After talking to them they agreed that they will only hold 8% of total and give me pet rent back.

I paid property management close to 5k to get rent ready. This was to do touch up and few things they recommended to get rent ready.

New tennant moved in and I have have close to 10 maintenance requests in two weeks since tennant moved in.

First complain was that washer was rusty. Property management told me they agree and purchased new one for about $500

Second request involved cracks in refrigerator drawers and one of the bars. Property management paid someone $91 to inspect refrigerator and they told me I need to pay $500 to get fixed. I was shocked that property management would even recommend fixing where I could buy a new one for $500.

Third complaint is that one of the stove tops is not turning on and is dirty. I paid $600 for cleaning to contractor hired by Property management. Property management asked me to pay another $130 to send tech to inspect. Not sure what they will recommend.

Fourth was a tree that reds to be trimmed. Property management sends me quote for $600. I called a random guy and quoted me $400 and decided to proceed.

I feel that every estimate I get from property management can’t trust and is so unreasonable and I still have to get involved with all and coordinate all repairs.

I feel that this property management is a hinderance more than help given that I have to get all the estimates, but now have to go through them do they coordinate time with tenant.

I feel that I need to pay money not to have this property management and I had thought up to now that would be easy to manage if you hire someone.

I have wanted to purchase more but getting a little discouraged since I thought things could be easier once paying a property manager.

I feel that this property manager doesn’t consider any costs or doesn’t do anything to ensure that I am paying a reasonable amount for the anything. I am shocked.

For this of you that have done this for a while please give me hope. Have been investing in 401k and had to do nothing.