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Updated over 8 years ago,

Account Closed
  • San Jose, CA
3,246
Votes |
4,456
Posts

Landlords - How would you write the perfect PM contract?

Account Closed
  • San Jose, CA
Posted

I started to mention this on another thread that's going, but thought maybe a new thread would be better.

I thought about managing again, and then my sanity came back lol.  But, I thought about how I would structure a PM contract that I would have also been happy with, if I was the owner.  What I thought of doing, was a straight monthly flat fee with a bonus written into the contract at the end of the year, for zero vacancies.

I thought a fee to find a great tenant would be appropriate.  But, after that, a flat fee to manage a property, regardless of the amount of rent.  My time would be worth the same amount, regardless of what a tenant is paying in rent.  And if there was a vacancy within 12 months, then I would not be paid another fee to find another tenant, and I would not get my bonus.

I'd have options on how to handle maintenance and who I should call, and if the owner wants to be contacted on every decision.

At any rate, I never worked it all out.  But, if you could write your own PM contract, what would it include?  

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