Property Management Company's
I am pretty fed up with paying my property manager 25%. It really cuts into the rental payouts. Between the upkeep and the property manager, I am losing money every month. I have a call with Evolve tomorrow. The 10% sounds incredibly compelling.
Wondering if anyone has advice on who to use? On who not to use? What you would do in this situation?
Most Popular Reply
I can tell you that a good manager can blow Evolve away. At least that's the case in my market. You could pay 30% management fee and still come out ahead.
I'd get a revenue estimate from Evolve and then get revenue estimates from local managers (or yourself) and decide from that. I got a revenue estimate from Evolve for one of my personal cabins and they said they THINK they could hit 120k with it. I hit 210k. One of the first owners we took from Evolve saw his revenues go up 30% immediately due to underpricing.
Compare apples to apples as best you can so you can make an educated decision. My personal vote would be to self manage (and dedicate time to do a good job) or shop hard to get a hungry PM that'll do a better job bringing in money.