Pay as you go property management

[Nick Fegley]

Good afternoon, I'm writing to get your opinion on a new property manager relationship I have. A friend of mine retired from his military career and became a real estate agent. Up until this point I have self managed my house with no problems from a few states away, however I had met the tenants and got them set up in the house before I left. When the tenants in my house told me they'd be leaving last spring, I reached out to my fri me for advice, and it's morphed into him getting tenants in there and receiving the phone calls from tenants and then calling me to come up with a solution. I like having control of everything that's involved with managing my place, but am so thankful he is physically there to keep an eye on the property. Every time I bring up paying him he says that we can do a pay as you go because he doesn't think I'll get my money's worth with paying him or someone else 10% a month, I agree. Besides his own places, this is his first time managing a property. I think he's waiting on me to propose a fare payment plan. Do you have any suggestion on a payment plan that I can present to him? Here's what I was thinking; Phone call from tenant: $50 Site visit: $60/hr to include driving time Setting up services for work order: $75 Please be brutally honest, I want to be fare Thanks, Nick