Sought property manager after 7 years of landlording

[Candace Ellison]

For the past 7 years my husband and I have managed our properties. As our children have gotten older and become more active in various sports we have found that we are not able to meet the needs of our tenants in a timely manner. My husband or father in law usually handles repairs. Now that my husband travels often for work I am somewhat limited on handyman. Also, I am just burn out with dealing with tenants issues. I am meeting with a reputable PM in my city today. It will be a burden lifted when I don't have to leave in the middle of a softball game to handle a repair.

So far, I was told the management fee is 10% of gross rents collected. I have to turn over security deposits

$600 for reserves

Repairs are $85 for first hour and $55 every hour after that.

$360 for evictions

Does this sound about standard? 

I am excited and nervous at the same time. Excited that my phone will not be ringing at for leaky faucets and clogged toilets. But, also apprehensive because I am not sure of all the right questions to ask. I do plan on driving by properties often and staying on top of knowing where my money is being spent. 

 I am pretty sure I have been doing some things wrong through the years and have been putting ourselves at risk for lawsuits.