Updated about 9 hours ago on . Most recent reply
Property Management Costs
Hi all,
I'm an out of state investor with a portfolio in Cleveland, OH. I'm on my third property manager, and wondering if the PM specific expenses I've seen in Cleveland are standard everywhere. Fees such as visual inspection fees or visit fees to look at a maintenance request that was raised, or giving 30 day notice to a tenant that we're not offering renewal, or installation of a lockbox on a vacant unit.
5 years ago when I first started investing, it felt like I was being nickel and dime'd, but now I've seen this across multiple PMs, wondering if its just industry standard? The little charges here and there add up over time and eat away at margins, but I've decided to really dig deep into numbers and metrics and learn how to be a more profitable operator.