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Is my property manager generating problems to fix unnecessarily?
Finally rented out my first house and got a property manager to look after it while I moved out of state. The mortgage is $1350 and we are renting it for $2400. It has been 3 months and we have not broke even! The property manager keeps reporting problems and wanting us to fix them. We lived in the house 3 years and didn't have these problems, now the AC is going out, the garage door springs busted, the furnace needs to be replaced... Are tenants and property managers just more picky, or is the property manager looking for things to fix and get a kick back? Should I just keep fixing the problems as cost of business? My concern also is the property manager wont let us research our own contractors to fix things unless they are on their list. They claim their list is licensed and vetted places, but my wife seems to think their list is places that will give them kick backs.
It has been 3 months loosing money and my wife wants to pull the plug. Should we just hang out a little longer?