All Forum Posts by: Robert Mouser

I cant answer your question....but i basically live in Lorain so Id be curious to know also.

Even if theres truth in their response....

Clayton is the one plastering his face all over the internet drawing people in. Surely he doesnt expect to slide away from this mess unscathed...

He should have done a better job vetting that company and continually monitored them. He assumed and you all know the saying.

👍

In the middle of a tenant turnover after a horrible bedbug/flea/spider/ several lease violation situation and when property is ready in a month or so want a manager for a SFR

Anybody have suggestions for a Property Manager in/around  Vermilion or Lorain OH ?

 It has been mentioned several times in this thread already but I will say it again.

ALL of those expenses SHOULD be covered by the fees that PMs are already collecting. If your business is success is based on collecting extra fees for every little thing you most certainly have a bad business structure.

I havent seen any responses defending the keeping of late fees that make any sense to me....nor any responses that successfully refute the claim that PMs are already being paid for such service.

All I keep reading is a bunch of excuses used to keep and collect more money....when the service has already been paid for.

I saw where one person actually admitted that once a good tenant is in place the PM does very little other than collect rent.

In my example I paid a $700 placement fee and $85(11 percent) a month. The tenants were there for 20 months before there were any issues. So I paid them $1700 in monthly fees during those 20 months for doing pretty much nothing other than collecting the rent. Now when something pops up a little more involved they want more money. So yah....there is no denying that the PMs that do this are charging 10% for nothing more than collecting rent.....because once anything involves more than that they want more money.

The $1700 I already paid them wont cover their "hassle" as many of them are trying to make it out....for collecting a late fee?

And in my case they wanted a substantial fee to do a site visit when they were informed of illegal occupants and pets.
Again....someone remind me....what I am paying them $85 a month for?  Oh yah....to collect rent.

I guess I'll ask again since people seem to want to continue to play the same song...

Serious question. Once a good paying tenant is in place (which they collect a fee for doing) what exactly does a property manager do for an owner besides collect the rent?

Oh I understand the reasoning being provided by PMs....theyre all named Donna Summer and Work Hard for the Money lol

But another way of looking at it is.....the Mgr collected 11% for the last X number of months for nothing more than being the middle man and collecting the rent. When the odd month pops up and something extra is involved now they want more $$  lol

Could you have a bad tenant who frequently causes extra work?
Sure....but isn't it the Mgrs job to weed those folks out? I have yet to read a PMs sales pitch that doesn't brag a little about their screening process.

Serious question. Once a good paying tenant is in place what exactly does a property manager do for an owner besides collect the rent?

gunna revive an older thread lol

I am looking for a PM in North Central Ohio....I have one currently I am unhappy with so looking for better. The one I was strongly considering I just noticed does keep the late fees.  I have to say I was a little shocked to see that.

The house in question rents for $695

They keep first months rent for placing the tenant. (I get that)
They charge $79 per month management fee for SFHs....so roughly 11% in this case (maybe kinda high but I get that)

If you divide that $695 placement fee by 12 it comes out to $58 or roughly 8.5% of the monthly rent. If you add that 8.5% to the monthly 11%.... they are basically charging me 19.5% per month for the first 12 months. That seems like a more than adequate % to cover any small hiccups like a late payment.

A late payment that really shouldn't be likely to happen if they screen their tenants as good as they claim.

They place a tenant...that involves some work. Once that tenant is placed it should be fairly smooth sailing after that and they would be getting 11% to do little more than collect the rent. In the event that something like a late payment comes up the 11% they are already getting should cover any 'work' involved. Especially considering they are going to get that 11% whether anything extra pops up or not. (usually not)

Something about I dont get paid on time while you make extra $$$ doesn't sit well. I dunno thats just me.

I just went through stuff like this with my last PM.  Paid them their placement fee....paid them their 12% for 18 months. When I informed them there was 2 lease violations...another person moved in and 2 pets a dog and a cat....they wanted $125 to do a site visit for the pets....and basically said to me your rent is being paid on time so dont make a fuss about the extra person. Actually told me on the phone to do a site visit myself for free. I was like WTH am I paying you for? To collect rent?  Its not even like they go physically collect the rent lol.

Long story short im out 800sqft of carpet and infested with fleas and bedbugs.  I thought a PM would be on my side and put some effort in to checking on things when they were INFORMED of the violations.

Seems to me the replies got off track on whether a PM should or shouldn't share information...some even seem offended by the notion that an owner would want to be 'in the know'. Glad theyre not my PM.

the original question was "How much and what type of information is a property manager allowed to share"

Yah... I know much more detail would be needed to make a super accurate judgement.

I was just wondering if this is EVER done or pretty much impossible...