Should I take over certain bills?

[Nick Shri]

Hi BP'ers

I purchased an OOS property last year, in Cleveland, OH. I am a starter investor you can say. I have been following the expenses from the property mgmt and noticing expenses such as 'bill payment fee' charged to me. The bill payment fee is $5/bill, and it is chewing into my CF. I am curious to hear from more savvy property owners, long time owners about their thoughts on this practice. Should I take over some of these bill payments to avoid such ridiculous charges?

TIA.

[Jon Kelly]

@Nick Shri how many bills per month are you paying? 1, 2, 3? Is your time worth saving $15/mo? 

You hired the property managers for a reason, so I wouldn't suggest taking over some of their responsibilities. I would reach out to other property managers in the area and see how their pricing / fees compare. If they have better terms than you can try to negotiate with your current property manager to remove the fee or make the switch to someone else. 

You'll have more leverage to negotiate the more properties you own and the more business you do with your property manager.