My wife and I are going to be renting out a single family home as well as a triplex in Macon, GA. Originally we planned on using a management company, but so far we're so disgusted with the fees and minimums per door that we're planning on being our own landlords which I really don't want.
I'm hoping someone has a reputable management company they know of that services our area, thank you!
Hopefully you calculated the average minimum for property management in your area BEFORE you bought this house and a tri-plex.
If you didn't then you might have overpaid and is a very common occurrence. Another thing that happens is a buyer says they will manage themselves so they do not input that expense and then later on want a manager.
Some parts of Macon are rougher and the PM"s charge higher fees to deal with the tenants. I don't know what you mean by " disgusted with the fees" but your expectations might be out of line for the area. I know some good PM companies there but they do larger multifamily and not the smaller properties like you have.
Maybe go look on www.irem.org and follow up with some contacts showing there.
I have found a few companies that don't charge a minimum per door, and did factor those rates into my initial figures anyway. The main fees concerning me that I'm seeing more often is a 10% fee tacked on to maintenance calls and 1/2 to a full months rent to move someone in.
These seem as though they would encourage the management company to find shorter term tenants as well as extra service calls to the house, and as it just happens these companies have their own in house maintenance.
While I have maintained I wish no part in managing the properties, my wife wants the learning and the increase in cash flow, which is definitely significant.
@Mason Keith did you ever find a property manager? Or did you decide to manage them yourself? I'm going to be moving out of the state soon and am looking for a decent property manager in the area. Just curious how things ended up for you.
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