Is the 2 percent rule more applicable to multiple unit buildings when moving into higher prices?

I have interviewed a few narpm.org accredited companies that manage SFRs and am finding that the general fees are:8-9% Management fee80-100% of first month's rent for lease out25% of first month's rent for renewalsAny input from local investors would be great!

Again it could be a reasonable cost depending on what all they had to do.There are multiple issues here.1.Most of the items mentioned for repair should have shown up on an inspection of the property PRIOR to purchasing.In my mind if you didn't get a inspection from a 3RD party inspector not affiliated with the company selling you the property then these repairs are on you for not doing due diligence.2.The other component is that this property manager has their own crew.I don't like that one but and would never agree to it.Sometimes managers also get referral fees for giving business to skilled trades even if they don't have their own crew.The problem becomes then instead of getting the best rate they have to pad it a little to give back to the property manager for the referral.So either way I am sure the property manager is reaping a benefit monetarily from it.This way they make more than the lousy 50 to 60 bucks a month managing a property.This is why I am not a fan of "one off houses" in an area far away from where I live.This is why I like owning apartment buildings.I can find a full time highly trained manager easily and they use systems and programs to control cost and everything is documented.Since they only focus on management and are not a broker/agent doing transactions and then handling "rentals on the side" my properties get the focus they need to be ran properly.It just sounds like you purchased wrong and then on top of that have a property manager padding fees with the repairs.REO agents used to do this with banks.They wouldn't make much commission on selling the little dumpy houses so would have their company do the trashout,re-key,repairs and charge full market for it.Eventually the banks caught on and choosed their own company to perform tasks and only let the broker list the property for sale.Sometimes that works and other times it doesn't as the broker or manager is now dealing with outside parties they can't control saying work was completed properly and it wasn't.If you haven't had an inspection of the property I would do it now to see what all else might come up in the future so you can expect it and plan for it.

Certainly, facts have been omitted - even by accident since a proper interview has not taken place.

Does he have multiple crews?

These are the questions I ask of buyers.I know the chance of a deal happening based on their answer.Statistically a direct buyer has the best chance of transaction a deal for me an earning me a commission.The other ways there are multiple times in the deal that things can fall apart and you are back at square one under contract again.

I made it a point to stay out of those areas for multiple reasons.

The chances of your house burning down are very low and if you have multiple properties the chances of them all burning down at the same time is astronomical (assuming they are not right next to each other).

But still, the net yield (assuming a more realistic 45-50% expenses/vacancy/capital) is considerably better than most alternatives.Maybe it's this: they like you to lever up so that you can use your capital to buy multiple properties (meaning multiple sales and higher prop mgmt and maintenance residuals from tending to all these properties).

I just started a real estate brokerage and am looking into how to syndicate my listings to multiple websites in the best fashion.SellPoint costs money, but I remembered about a year or so ago signing up for a free acount (I think it's good for 2 years).Any feedback on this?