Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

22
Posts
5
Votes
Ben Chapman
  • Detroit
5
Votes |
22
Posts

Property Management advice.

Ben Chapman
  • Detroit
Posted

So I bought a turnkey sfh in Ohio. I closed on it at the beginning of June. Part of the turn key process was to have a tenant already in place (which there is) and a property manager (which there also is). My dilemma is that I have yet to sign any type of agreement or contract with the property manager outlining their fees and how I'll receive the rent. This was my 3rd turnkey  sfh purchase and previously those details were worked out just after closing. 

I contacted the property manager about this and their reason was that they were switching and upgrading their tenant owner websites and software. 

They sent me a check for my first months rent once the house was mine. They charged me 10% of the rent, but like I said, I've never signed any type of agreement with them. My other two property managers charge me 7% and 8%. 

All 3 of my sfhs are in different cities. 

Any advice on how to handle this situation? Should the property manager have sent me the full rent? Should I ask for the full amount until I sign an agreement?

Thanks in advance!

Loading replies...