Discussion: Incentivizing property mgmt contracts - what works?

[Jeremy M.]

Does anyone care to share some ideas on incentivizing my contract with a property manager. I am admittedly fairly uneducated in dealing with PM's but from what I've picked up, it almost seems like they get paid more/better on tenant turnover than not. Seems like a definite conflict of interest from where I stand. I am still in the brainstorming process personally. I'm thinking along the lines of a trial period where after a certain period of time I'd offer some kind of quarterly bonuses based on lack of turnover/rents paid on time ect ect. Something to create "buy in". Would love to hear what's working for you.  

I would especially like to hear from PM's themselves...

(1) Who are the types of owners you love to work for?

(2) Who are the ones you dread picking up the phone for?

(3) What are the obvious things that owners miss that you wish they could understand? 

(4) Anything else....

thanks!