Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Doughboy who wrote (23379)	8/18/2004 1:03:06 AM
From: bentway	Respond to of 306849

I can answer some of your queries Doughboy, as I used to run a maintenance business that catered to property managers. I liked working for them because they gave me a lot of business and I only had to deal with one person. As in any business, there are good people and there are thieves. None of them directly solicited a kickback from me, but I became aware that a couple of them were taking my invoices, making their own, and tacking on a percentage. Whenever I discovered them doing this, I jacked up my own rate to them! One of them was tacking on 20%! I had a condo I had managed for 7 years. I was only charged 10% and the well screened tenant the people found for me lived in the place for the whole seven years - until I offered to sell it to her!

To: Doughboy who wrote (23379)	8/18/2004 1:20:16 AM
From: jrhana	Respond to of 306849

On the other hand, I agree with you about property managers I have had experiences exactly as you describe I refuse to use one.

To: Doughboy who wrote (23379)	8/18/2004 12:52:22 PM
From: Tradelite	Read Replies (2) \| Respond to of 306849

<<collect 15%-25% of rent for their non-efforts>> That's a pretty high fee compared with the traditional fees I'm familiar with. Not that I'm a rental or property management expert, but the traditional fee has been around 8 percent of monthly rent, and might get up to 10-15 percent if the management firm takes responsibility for making the owner's mortgage payments. (This is the system I'm familiar with in a town where many owners are out of the country for extended times and do need management firms to take care of everything, including mortgage payments.)