Property Manager · Moraga, CA · Member since 2012 · 27 posts · 2 votes
Would like to get some feedback on the pros and cons of using a property manager. I have seen some that offer online portals for tenants, vendors and owners and therefore keep all communication and financials tracked. I also can see the benefit in helping to find tenants and manage the late night calls, financials, and general headaches. Wanted to hear what owners feel might be pain that a property manager can solve. Also at what expense (fixed rate, %of rent, etc.)?
Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
12y
Property management can be soul-crushing. And even when it's not, it's time-consuming. That time is time you can't spend looking for good deals. But, I've had a lot of bad experiences with management companies. Some are fraudulent and many are incompetent. If you go with a management company, don't think you just pay for it, ignore it and everything will be fine. You need to keep a close eye on them and demand results. And don't be afraid to switch if they aren't getting the job done.