Property manager, yay or nay?

[Jason Prendergast]

I understand the value of a good real estate agent, mortgage broker, GC and real estate attorney, but are property managers worth it? Ive called and emailed some of the property managers in my area and never been able to speak with someone over the phone (red flag). Ive received canned email responses, too. Im willing to pay someone the 50%-65% of a first months rent to get a good tenant in there, but not sure if I can justify the 8-10% fee per month. What is everyone elses opinion on this?

[Account Closed]

@Jason Prendergast I am a real estate broker and own several rental properties. I don't manage my own properties. I think my property manager is worth EVERY penny! I like having a "middle man" because I am too nice :) I feel sorry for people when their dog dies or they get all of their teeth knocked out in a car wreck (true story) and can't pay on time.

Also, on a more serious note, my property manager has processes in place to handle tenant screening, rent collection, maintenance calls, late payments, walk-thrus, etc. And, she is very knowledgable about tenant/landlord laws and attends meetings to continually stay on top of it.