Property Manager Responsibilities

[Matthew Hicks]

Hi Everyone,

I have two questions. First, I own a vacant lot next to a rental property that I own. I was just told that a car has been parking in the vacant lot and the manager told me "Since you own the lot, I would call the police and see if they can tow it." Isn't this something the property manager should do for me?

This leads me to my second question. Does anyone have a good resource they can refer me to that outlines the general role of a property manager? I'm located in the Pittsburgh area and so far I haven't been thrilled by the services that are being provided by my manager. They are charging 75%-100% of 1 month's rent to locate a tenant and 7-10% of the monthly rent there after. For what I'm paying, I just don't feel as though I'm getting a good service, but I'm new to the landlording business so I'm not familiar with what standard, let alone good, management service is like.

Thanks in advance.

Matt Hicks

[Ian M.]

@Matthew Hicks just a thought, but rather than going right to having it towed, why not try the entrepreneurial route and find out who the owner is and negotiate a deal where you let them park there for b/w $25-50 (going rate in the burgh depending on location and amenities/garage). It's a great way to have vacant land make you some money

As far as management fees those are about the rates I pay as well but my new management company is much better than the old. That said, I have always had an issue with paying a full months rent to place a tenant, just based on principle. Why isn't it a flat rate? I would argue that it's actually harder to place a (good) tenant in a $450/month property than in a $1200/month property so why do I still need to give up a full $1200 to have that tenant placed? Unfortunately it doesn't matter what I think it matters what the market dictates. That said if anyone knows of a GOOD management company in the burgh that will not take a full months rent I'm all ears. @Michael D. I would be interested in hearing who you are utilizing. If you would PM me, I would appreciate it. @Jerry Kisasonak I think the last we spoke you were managing yourself, correct?