Property Management Cost

[Kyle Barnhart]

Is getting a property management a good idea? About how much do they charge? Monthly or annually?

[Will Fraser]

Boy @Kyle Barnhart, that's a loaded question.  Hiring a good PM company can be a good idea.  Hiring a bad one is always a bad idea.  

Whether hiring a quality PM company is good for you largely comes down to who you are and what you want to be true of your investments.  If you want to have a more hands-off approach, if you do not have time for self management, or if it for some other reason fits your needs better then it can be a boon.  If you want to have a lot of direct control over your investments and want to be in the know about the day to day operations then self-management can be a better fit.

Painting with a broad brush here, you can expect PM services to range between 6-12% of the monthly rent amount, varying widely based on a number of factors.