Property Management Fees

[Ray Harrell]

Just a thought. I know most PM companies charge the first month's rent for leasing an empty unit, but is that fair? Let's say a unit becomes vacant on April 30 and they don't lease it until August 1. Do they really deserve a full month's rent? I don't think so. I think they should get the full month's rent if they lease it by June 1. By July 1 it should be half a month's rent, and August 1 it should be 1/4 a month's rent. After that, they just aren't doing their jobs and it should be FREE!!!!!!

They are supposed to be "professionals in their field". Taking 3 months to lease a unit, regardless of the location, especially after doing "rental ready" work of $5K, shows ineptness.

What do you guys think?

[Joel Wilmoth]

Too many variables to make this be something a smart manager would consider.  

1. Market conditions

2. Asking rent and ability to adjust to market

3. Quality of rent pool

Do you want your manager to just rent to anyone who can fog a mirror just ot make sure they get paid?