choosing a Property Management company.
okay here is a little story about this house. i bought the 1200 sqft house for $14k from a owner, and spent around 12k for remodeling such as a new wooden floor, paint inside/out , window and tiles and some new dry walls. we had it in market for almost 3 months at $59k ( market value is around $63k) and had only 4 inquires from the buyers and had more than 10 inquires for rent. so i decided to take it off from a market and give it to a property management company since i have other business to take care so i did not want all the headache from tenant. so here i am looking for a property management company and i found one that started in 2012 and they manage well over 200 property.
Charges & Term as follow:
- 9% of rent collected ( average rent in the subject property area $650-$750)
- 0%/no fee for vacant property
- 24/7 service
- online property management software
- $100 setup fee per property
- 12 month commitment.
- Eviction: $500 for first defendant- add $4.50 for each additional defendant
- will advertise on cragilist, hotpads, trulia, rentals.com, my new place, & yard sign at no additional cost.
since this is my first property i would like to get some input from you guys to see if i am making a right choice.