I wanted to know what size building/multiplex you would use an on-site manager for? Is there some minimum size that would make it necessairy to use one?
Probably depends on how much time you want to spend doing maintenance, and what you would do with your time if you weren't doing the maintenance yourself. If you have no other prospects and don't mind the work; save some bucks. If you'd rather be working on something else, another deal or what have you, then give someone free / reduced rent.
As property management averages 8-12% fees, I'd say around 10 units would be a breakeven point (1 free unit / 10 units = 10% ; OR, prop mgmt = 10%).
I never thought about it that way. What you are saying makes a ton of sense. I love how some things that seem to be so difficult are just obvious. Thanks for the explanation.
Thank you Takleberry. I have been informed!