I have a 14 unit C+ apartment that I am debating on property management options. I work full time and I currently have an off-site management company that charges 8% monthly fee and half month's rent on lease-up. My main issue has been lack of prompt communication and turnovers taking longer than they should.

I already have a great maintenance man dedicated to the property I inherited from the previous owner who is on site 2-3x a week and knows the tenants personally. He does everything repair and make ready wise (including plumbing and electrical) except for HVAC and I already have a HVAC guy I use on rehabs that I'm comfortable with (Just text him issue and he goes out and diagnoses and fixes it without me having to be there). I am a rehabber so coordinating repairs and make readies with the maintenance man is easy.

I really need management company to handle all the bookkeeping, marketing, showing units for prospective tenants, collecting rent, and evictions (if needed).

I'm debating if I should fire the property management company and:

1) Coordinate make readies and repairs with my maintenance man directly (what I've been doing). Have maintenance man take emergency calls (what he did with old owner)

2) Get a buildium or renttec or appfolio account

3) Outsource to my VA administrative stuff (marketing property online, handling general inquiries, fielding tenant calls, fielding prospective tenant calls, scheduling showings)(Tenant screening via buildium/appfolio)(Transferring utilities on turnovers)(Handling documentation (leases, addendums etc)

4) Outsource to my VA book-keeping stuff ( Collect rents, balance checkbooks, create monthly P&L statements, pay contractors, etc)

My VA is currently paid $5-6 per hour

The only in person stuff left that I can split with my maintenance man is:

- Filing Eviction notices / Going to Eviction Court

- Showing properties to prospective tenants

- Quarterly inspections

-Move-in Move Out inspections

Probably some more stuff too that I cant think of now.

Do you think that would be more cost effective and efficient while still not burdening myself with too much work?

If costs end up being the same as the property management company, I am ok with that because at least I will be running the property more efficiently.

Thanks

Adriel

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