Hi All!
I'm brand new to all things rental properties, I'm gearing up to by my first property OOS in Ohio and live in California. As I'm working on underwriting my deals, one question that keeps coming up in my mind is the use of RentRedi vs a Property Manager. I'm not sure how to decide when to use what? As I reach out and interview property managers, it seems like they do many of the things that RentRedi does and charge fees for them. For example, I found a property manager who charges $10/month to process the payment from the tenant, charges fees on processing late fees and charges for tenant screenings. It seems like many of these things could be taken care of by RentRedi for a much lower cost. I'd prefer to use RentRedi for those things, being from the Bay Area it seems highly logical to me to use a digital platform for everything, it is much more efficient and cost effective. However, the property management companies I have spoken to have said that they require you to use them for everything I listed above. It seems to me like really what I want a property manager for is to show the property for me, to deal with late night calls and coordinate repairs. I don't think I should have to pay individual fees for each transaction, but am I wrong in this? How do most people do this? It seems like some folks like the idea of having a property manager handle everything for them, but I'd really like to be involved and have say in who lives in my property, not let a property manager decide. Am I just looking at the wrong property managers? These are folks recommended by a few realtors and the largest property managers in the area. What do other folks do? Has anyone successfully found someone who will just do showings and coordinate repairs? Am I looking at the wrong type of person for the job and should be focused on handymen instead of property managers? Thanks in advance for all the advice!
