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Updated over 10 years ago,
Property Manager or not?
we've used a property manager for the last 6-7 years and have been satisfied. But starting to look at all cost in addition to the 10% management fee and beginning to wonder if it makes sense to look at alternatives. It seems that there is some level of profit margin built into other expenses - like the $65/hour maintenance rate, advertising fees passed on as well as other things that just make me wonder.
There's a lot of variables that go into the decision I know. We're not ready to be property managers as we (wife and I) are W2s and have 4 kids. No plans on quitting day jobs as we both have jobs that we love. She works her easy job 5-10 hours a week and then takes care of our busy household the rest.
But starting to look down the road at alternatives. Also having the discussion of as the number of properties increase so do the demands of managing the properties but so do the total expenses. We want to keep adding properties at a steady rate for us -1 or 2 a year - so scale is a consideration.
Long time follower. First time poster Thx in advance for help.