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Updated about 9 years ago on .

User Stats

5
Posts
1
Votes
Hitesh Patidar
  • knoxville , TN
1
Votes |
5
Posts

choosing a Property Management company.

Hitesh Patidar
  • knoxville , TN
Posted

okay here is a little story about this house. i bought the 1200 sqft house for $14k from a owner, and spent around 12k for remodeling such as a new wooden floor, paint inside/out , window and tiles and some new dry walls.  we had it in market for almost 3 months at $59k ( market value is around $63k) and had only 4 inquires from the buyers and had more than 10 inquires for rent. so i decided to take it off from a market and give it to a property management company since i have other business to take care so i did not want all the headache from tenant. so here i am looking for a property management company and i found one that started in 2012 and they manage well over 200 property. 

Charges & Term as follow:

  • 9% of rent collected ( average rent in the subject property area $650-$750)
  • 0%/no fee for vacant property
  • 24/7 service
  • online property management software
  • $100 setup fee per property
  • 12 month commitment.  
  • Eviction: $500 for first defendant- add $4.50 for each additional defendant
  • will advertise on cragilist, hotpads, trulia, rentals.com, my new place, & yard sign at no additional cost. 

since this is my first property i would like to get some input from you guys to see if i am making a right choice.