Property Management Recommendation

[Padam Neopane]

Hello BP Community 

I wanted to manage a studio condo DC. I have used property management. It is just breaking even and not cost effective. It is located close to GW University and good for students due to its location and bigger than average condo size and it is furnished. I am concerned about frequent turnover from tenant and property management takes firs month and 8% monthly management const. 

I would like to hear about self managing  with soft ware like rend redi or avail or apartment.com, zillow. 

Thank You

[Drew Sygit]

@Padam Neopane

Owners always complain about how much they “waste” paying a Property Management Company.

How much are you paying for car insurance? Isn't that also a BIG waste of money?

What about health & home insurance? STOP paying those too because aren't they all a waste of money?

Landlords are so short-sighted when it comes to hiring property management companies and always mention some variation of, "but 8% is a lot..." nearsightedness.

How much do you really know about the following:
1) Fair Housing laws
2) Fair Credit Reporting Act
3) Consumer Privacy Protection laws
4) Local rental ordinances
5) State eviction laws and procedures
6) Etc...

Everyone thinks property management is easy until something goes wrong...

Please send us any feedback via email, as we do not use the DM feature here.
Also, if you like our response, please don’t be shy about giving us a vote😊