Property Manager pay.

[Sam T.]

I am in the process of hiring someone to handle my day to day workings of managing my rentals. This would involve taking all tenant calls, meeting prospective tenants, handling inspections, coordinating repairs, move ins and move outs etc.. Their job would be to manage 40 units for me. I am having a hard time figuring out what would be the best way to pay this person. Anyone try this before and what was your experience. I don't want to go the property management route as I have heard some horror stories.

[Ray Harrell]

THAT, my friend, is a property manager! If you have 40 units, why can't you quit your job and manage your own properties full time? Get a good handyman that is reliable and take your own calls.

[Tracy Streich]

The question is how much time do you have time to manage and train an employee? How much is your time worth vs hiring someone who already knows what they are doing? Just something to think about

[Sam T.]

The person I had in mind is my handyman and I have been using him for the last 7-8 years. The reason I don't want a property management company is because it will cost me more in the end. Since I have been working with this individual already, he understands what I want and what I expect. My other issue is my units are spread over 20 properties and a couple of management companies I talked to weren't interested because of that.

[Keith Weigand]

Keep your handy man, get a good software to assist you in all the tasks and manage them yourself if you have the time. I've never heard of a professionally property manager who wouldn't take your portfolio just because it's spread across multiple properties. Sounds like a small PM company.

[Jason Wisniewski]

@Sam T. how did this turn out for you? I'm considering paying my property manager a percentage of gross revenue and percentage of NOI to keep interests aligned.