self manage vs property management company
Hey BP members,
Does anyone have any advice on hiring a property manager? I currently manage 16 doors myself, all within a 10 minute drive from each other. (I do everything). I looked into a few property management companies but they want 10% of the gross rent plus other fees to renew leases and file evictions, etc. On top of that, the realtor wants the first months rent when they find me a new tenant. Nothing against property managers for sure, if thats what people are paying, then God bless you :)
But I was thinking of hiring a part time employee (property manager). I could pay them a salary or hourly wage and I am thinking that would be less expensive and give me more control?
If anyone has ever done this, I'd love to hear your thoughts and how you went about it.
Here's what I'm thinking: If I hire an employee I can determine the job description. I'd like them to handle everything such as handling all phone calls, maintenance requests, posting and showing vacant properties, signing leases, filing evictions, etc,etc,etc...They could even work flexable hours.
I'd love to get some feedback from the BP community.
Wishing everyone loads of success,
Mark