Since when did Property Managers . . . . . . . . . . . .

[Mike McKinzie]

Start charging 10% of the repair bill as a "Management Maintenance Fee?"  I am very PRO Property Management as I used to be one.  But each year, it seems like they are finding more and more ways to charge the investor money.  When I ran a Property Management Company, I charged a percentage of the months rent.  I NEVER charged for a Lease Renewal.  I NEVER charged to send a handyman out to do repairs.  I NEVER charged to get a new tenant.  My monthly fee covered all of these costs.

When I ask my Property Managers WHY, I get the same answer. "I went to these Property Management Seminars and they told me that I can charge this, that and the other thing!" Then they tell me that they need to hire "quality" people to do a good job. I managed 100 properties WITHOUT any help, WITHOUT a computer, WITHOUT a Cell Phone, WITHOUT a Fax Machine, WITHOUT the MLS, WITHOUT any lock boxes, etc... I kept a Green Ledger Sheet for each property, made a copy of it each month and got the investors their money that I collected on the first, to them no later than the 10th. I made all the Mortgage Payments, Insurance Payments, HOA Payments, Property Tax Payments, hand writing each check. I personally showed properties, served 3 Day Notices, did Sheriff Lockouts, everything.

Currently, my California Property Managers only charge a monthly fee, no lease renewal fee, no new tenant fee, no management maintenance fee, etc...  It is my TX, TN, OK and AZ Property Managers that are charging all these fees.

For those of you who use Property Managers, are all these fees normal in your experience?