All Forum Posts by: Deano Vulcano

eRentPayment.com has a flat fee $10/month for the first 5 renters and then $1 for each additional renter.

According to the "cozy" website the tenant pays a 2.75% fee.

York county has the worse tax assessors sight ever.  I buy properties in Florence and Darlington SC and their sites are great, sometimes they even have pictures of the properties. Every county is different whether it`s NC or SC, and the size of the county does not matter. Sometimes you can google the address, and a past listing of that house will pop up.

I tried like crazy to get her to remove the 6% commission clause and she did not budge an inch. Her contention was that she was adding value to the property by getting tenants in there, and she felt she should be compensated for that. I thought that was what the 1/2  months rent was for.

Why should a property management company get a piece of the pie when you sell it. Those are two completely different business transactions. They are getting paid to manage the property, not market it. You mean to tell me that if someone made you an offer to buy your property, you would have pay your PM a 6% commission? For what?

After reading some of the replies, I realized that I should have been more specific in explaining the situation.

I am actually the owner of the apartment complex. We want to hire a management company to fill the vacancies and manage the property. That`s when they told me that their standard management agreement includes a 6% commission, paid to them, if the complex sells. They are a real estate company as well.

I was recently in discussions with a management company in Charlotte for my 11 unit apartment complex in Gastonia. She insisted that in order for me to sign a property management agreement with them, I would have to agree to give them a 6% commission if I sold the property during the length of the agreement. They insisted that it was standard in the industry. I asked her, "do you mean to tell me that everyone that uses your company to manage their properties has to pay you a 6% if it is sold?" Her reply was "yes". This is my first experience having to use a management company, does this sound right? 

So I read this whole thread. Brent you are a rockstar for being so consistent with your updates. I hope all the advice and information you provided yields you a hundredfold return. So in 7 months, how much did you spend on marketing, coaching, etc., and how much have you netted? Thanks again for sharing your story with BP family. Cheers Deano

Thanks everyone for your input. Of course I would do it to save on the commission fee. I can always go with a flat fee listing and only pay 3%.

I am half way through renovations on an 11 unit apartment complex. I was thinking of trying to sell it myself for a month or two. Can someone recommend some sites where I can post my apartments?