Real Estate Investor · Bronx, NY · Member since 2014 · 39 posts · 4 votes
Hello BP
We own a rental property in Schenectady NY. I currently have a PM but I'm not satisfied with their services. I'm thinking of using a handyman I now for repairs and having him on call. Finding the tenants my self and collecting the rent my self. Do anyone know of a reputable and dependable PM in the capital region.
Rental Property Investor · Cary, NC · Member since 2014 · 120 posts · 89 votes
11y
Eddie, Hi I would like to hear your gripes. I have just decided that i will be starting my own prop mgt business and am trying to learn what investors want and what drives them away from a PM. Background on me, I did prop mgt. many years ago in Boston and current have 3 properties that I self manage.
My only problem with PM are the miscellaneous fees they charge every month on top of their MGT fee and having to continuously call them to take care of something. I'm new to the landlord business and maybe this is common for PM, but I don't agreed with it.
Rental Property Investor · Cary, NC · Member since 2014 · 120 posts · 89 votes
11y
@Eddie Marcano
Yeah, that seems annoying if you are trying to budget management fees at a certain % and then the actual dollars spent are higher. Would you be willing to elaborate on the types of fees? I want to build a business that serves owners for a fair price not use gimmicks to nickel and dime folks, so it would be helpful to know. My impression is that the monthly % should cover most administrative costs which should be fairly predictable and the additional costs would include repairs/maintenance, lease up fees and eviction costs. Stay warm up there I hear its gonna be REALLY cold, tell your tenants to let a faucet drip somewhere in the house. Thanks.