All Forum Posts by: Trinh Lam

@Kenny Dahill

I have contacted a Property management company. They charge 10% for long term rental and 20% for vacation rental. 2 units of the fourplex is currently for vacation rental. I’m planning to do 3 units longterm and 1 short term.

The owner didn’t pay any fee for the on-site manager. He’s looking after the property, cleaning the small yard, checking in/out for short term tenants and fixing some minor problems.

@Kenny Dahill

Thanks for sharing your experience. I’m not planning to manage it by myself.

Hi everyone,

I’m about to close my first investment property. The current owner has an on-site manager to help him taking care the property. The manager is responsible for maintenance, lawn, cleaning and some other miscellaneous stuffs, except for collecting the rent, finding new tenants. The manager doesn’t get pay in exchange for a free room to stay. My question is: should I keep him or hire a professional property manager?

If I keep him, I still need to put my time to deal with current tenants and find new tenants. There are 2 vacant units. The income that I loss for letting him to stay there is about the same or a little bit less compared with the 10% commissions for a property management.

I’m currently leaving out of state. I have a full time jobs. I probably will not visit the property regularly.

Please let my know your opinion.

Thanks for reading.