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Updated almost 6 years ago,

User Stats

603
Posts
130
Votes
Adam Craig
  • Investor
  • Cleveland, OH
130
Votes |
603
Posts

How much to pay in house property manager/book keeper?

Adam Craig
  • Investor
  • Cleveland, OH
Posted

I am taking my 26 rentals that have been professionally managed for 7 years and bringing them all in house. Right now I am managing 4 of them and bringing them in one at a time as leases renew - then I am going to hire someone to take my place. 

I decided it was time because I plan to continue adding rental units and I have a full time rehab/flipping business so I handle all tenant repairs through my guys. So the tenant screening/showings/accounting/rent collection was not worth the approximately 30K I paid them last year not to mention no property manager will care about my properties as much as I do.

I am going to advertise the job as "work 90% from home" especially with the TenantCloud software I am using so I think it will be an attractive part time position for somebody. A couple questions -

  • What would be a fair wage assuming they were managing all 26 properties and counting? Eventually I plan to buy small apartment buildings and then larger ones so this will be a growing position. I am thinking right now a fee for each unit but somewhere down the road salary.
  • Where would be a good place to look to hire? Craigslist or something more professional? 

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