Do NOT Hire a Property Management Company

[johnstaples-tllv]

A pm is worth it, a rental should be an investment not another job. No, I don’t want tenants calling me when I’m at work, church, watching the game or with family, in the middle of the night. Oh why aren’t u answering. Matter a fact I don’t want them to even know who I am. Tenants will threaten, I’ve had to drive to another city to collect rent then wait hours to receive only half of it. I will pay the 12% fee and use it as a tax write off. I spend more just in gas and my time, and the headache of dealing with these people.

[JuicyMullet]

That is horribly blunt unhelpful advice

[ethanbunce]

Imagine not being able to grow your portfolio becuase your dealing with tenants all the time. 🤡

[CalebRobinson-bsvy]

Don’t use a service because they charge you for the service they provide 😱

[RyanWillis]

Imagine having 20, 30, 50+ properties and no pm lol. You could save so much time which is then invested into new business investments. Time is money.

[ryand]

It’s not a waste of money bc anyone hiring a pm is looking for someone else to do the work for them. You pay to not have to do the work. I can fix my own car but if I don’t wanna bust my knuckles, get greasy, and take the time to do I pay a mechanic. This is no different.

[sami-khondakar]

15-20% is usually for profit on Airbnb's or short term rentals cz those has to be cleaned up regularly.

But 6-10% is average for rental properties.
And it's not waste of money.

They save you from lot of headaches, finding tenants, taking rents, fixing stuff, listening to complains in the middle of the night and everything lol.

[BluefaxPM]

That is awful advice. That's like saying people don't don't need an agent to sell their home. Some don't... but many do. They've never done it before and may be unaware of fair housing laws and local ordinances that can get them into hot water and wind up costing far more than a PM costs. Good luck with that advice though.

[karmathebrit]

I mean it depends on the company n the agreement. If a company is taking 20% of gross rent, you are dealing with the wrong company. Imo

[ChrisMcDonald]

What company would pay for your repairs of your property that you own?.. If so let me know. They can cover my properties 😂

[ReneeNow]

Here’s the thing, a property management company knows the ins and outs of property management while you get to still live here every day life. They are the ones that are communicating with lawyers, residence, de-escalating, etc. The property management company isn’t going to pay for repairs for a property that they don’t own. If you cannot pay for the repairs, then you can’t afford to own a property that other people rent.

[boardtom]

Repairs/wear and tear are owner expense
Any damage like holes in the wall or painting colourful walls etc is on you.

[PrincessJas]

Lmao as a PM you’re telling me you’re trying to wipe out my industry and telling landlords to NOT maximize time and profit and screw themselves!! Great advice bro 👏🏾👏🏾🤡 most investors dont reside in the same state nor know the laws or have licenses for the amount of transactions geesh

[justjfire]

if you have 1 unit sure its not worth it. but if you have a large number of them its very vauluable because they can keep you out of legal issues

[itsmelili]

Anyone who assumes that a PM Co. Would actually pay for the maintenance of YOUR investment really should NOT invest in RE, until they learn quite a lot.

[OakTrustPropertiesCharleston]

Imagine paying for professional services to reduce your legal liability, negotiate on your behalf and organize and eliminate all the nuts and bolts of the daily grind to help the investment qualify as "mailbox money"... just absurd.

[robertgonzalez]

But It saves all the headaches of dealing with tenants especially bad ones. It’s worth it

[Kedtherealtor]

If you are an investor, I suggest you to get a property manager !

[bricecay]

Actually for my experience it's 8-10% which is only around $100 to $150 a month. Definitely worth it without a doubt. Unless you bought a property that can't cashflow.😂

[RowdyBush]

Hiring a property management company is well worth it. Paid off for me several times. I guess if you luck out which is possible you could be fine without. But few and far between. Pay the $, well worth the avoided headache and stress