West, MI · Member since 2012 · 674 posts · 182 votes
This is a question I have always had.......A property management PM takes upwards 10% of gross for receiving the rents. Bills every time for a repair and some add a rider on top of the repair. Bills a substantial amount for finding new tenants. Not to mention most PM companies have their own rentals in that area. Do you think they are goind to place the 'cream of the crop' in your units or theirs. Why would they they make good money on placing tenants.
Hopefully someone has some insight to change my view.
Involved In Real Estate · Rochester Hills, MI · Member since 2010 · 812 posts · 178 votes
14y
Why hire a painter? He charges $15/hr + materials! Surely you can just paint yourself! In fact, I'm not sure why people go out to eat? They can just make all that food themselves and probably a healthier version of it! Why buy bread when you can just make your own bread?
It's called leverage of time.
I always love the "well there are bad PM companies" or bad anything companies. Well no kidding. There is bad anything. Why in the world would you expect there not to be bad realtors, or property managers, or painters, teachers, or anything in life?
People just baffle me sometimes. Not to mention these PM companies, the big ones, like ours, have full time attorneys making sure every law is followed and every lease is legal. I'd argue that I can get better pricing for our owners then they could on their own due to volume.