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Updated almost 2 years ago,
Help on hiring a property manager
Hi all,
I am a rookie investor, have been managing my duplex for 1.5 yrs. However, recently have been assigned out of the US for work and I'm not able to keep up with managing it while out of country.
Other investors in my area have recommended a PM company, since I am new just wondering what questions I should be asking that I may not be?
Fees they would charge
- 8% on monthly rent collected....if a late fee they keep the late fee
- $400 for placing a new tenant with 6 month guarantee in case tenant breaks lease within first 6 months
- From their contract: "In-house maintenance staff is provided to you at double the hourly wage with all materials billed at cost and no trip charge; this includes maintenance at cost, company vehicles and vehicle maintenance, vehicle insurance and gas, tools, worker’s comp, GPS tracking, 24- hour maintenance call center, around the clock in-house emergency services"
Please let me know thoughts and advice on the above. Thanks.
John
I am a rookie investor, have been managing my duplex for 1.5 yrs. However, recently have been assigned out of the US for work and I'm not able to keep up with managing it while out of country.
Other investors in my area have recommended a PM company, since I am new just wondering what questions I should be asking that I may not be?
Fees they would charge
- 8% on monthly rent collected....if a late fee they keep the late fee
- $400 for placing a new tenant with 6 month guarantee in case tenant breaks lease within first 6 months
- From their contract: "In-house maintenance staff is provided to you at double the hourly wage with all materials billed at cost and no trip charge; this includes maintenance at cost, company vehicles and vehicle maintenance, vehicle insurance and gas, tools, worker’s comp, GPS tracking, 24- hour maintenance call center, around the clock in-house emergency services"
Please let me know thoughts and advice on the above. Thanks.
John