Renegotiating the PM agreement

[Ayne C.]

So now I'm up to 4 rentals and soon to close on the 5th and I was thinking about renegotiating my property management contract. I was thinking that they get paid the most when there is turnover, so has anyone been successful in crafting an agreement that rewards for: Tenant longevity Short vacancy Keeping repair costs down (I do want to address issues though) Dunno... Anyone doing a performance based compensation? How does it work? How successful has it been?