Onsite Management for 4 Plex

[Trinh Lam]

Hi everyone,

I’m about to close my first investment property. The current owner has an on-site manager to help him taking care the property. The manager is responsible for maintenance, lawn, cleaning and some other miscellaneous stuffs, except for collecting the rent, finding new tenants. The manager doesn’t get pay in exchange for a free room to stay. My question is: should I keep him or hire a professional property manager?

If I keep him, I still need to put my time to deal with current tenants and find new tenants. There are 2 vacant units. The income that I loss for letting him to stay there is about the same or a little bit less compared with the 10% commissions for a property management.

I’m currently leaving out of state. I have a full time jobs. I probably will not visit the property regularly.

Please let my know your opinion.

Thanks for reading.

[Heath Ryans]

@Trinh Lam get a real manager if your not going to do it yourself. I promise you that 25% of your income for letting him stay for free and barely do anything is NOT the same as 10% of your income for a professional property manager who does everything.