Property Manager, are they really needed?

[Bob Stevens]

So, for years I have been an advocate for PM until recently. What does the PM do? Collect rent, schedule repairs, place eviction notices ect, just really moving around paperwork oh and show the place for a new tenant.  Well why not just have the rent go directly to the owner, and if sec 8 well the owner gets paid 1st-5th like clockwork without having to chase the PM.  The tenants call the " Maintenance Coordinator dfro any issues.  The owner is still not bothered with issues and is still hands off. If a notice needs to given to the tenant well that's simple. Anyone can put a note on a door, take a picture and send to the attorney. Why pay 8-10% of your rent? Well, a MC can do all this for 5% therefore cutting that expense in half. 

So far, it's working very well, who knows maybe I just created a new term. Just like wholesaler, back in the day it was called flipping a contract. 

What are your thoughts?