All Forum Posts by: Julie Hartman

I am new to this site myself and am a PM. Yes, property managers will locate a suitable tenant for your property. There are fees  involved and depending on how the individual PM company structures their fees, it is usually a % of the first months rent. At the company I work for, we take 50% of the first month's rent, then 10% every month for management fees (sometimes less). Some owners just want us to locate a tenant and then they will self-manage to save money in the long run. In that case, our % would be larger since we won't have the on going management responsibility. We do all of the background/criminal/credit/employer screening. The laws are changing constantly, so it's important to know the laws in your state in case you want to self-manage. 

Missing a proceed payment to an owner is not normal. Paying a contractor in cash it also not normal practice. We've had contractors ask to be paid in cash to which they get a firm "NO" and if they cannot accommodate a check or credit card payment with a paper trail, then we use someone else. Sounds like a complaint to the RE commission is in order for you. Good luck!

I know here in Colorado if you are the owner and have 4 or fewer properties, you have a bit more say in who rents the property but you still need to be careful. As a PM, we typically tell people during the phone screen that there are occupancy limits per municipality. If the prospect insists on viewing the property, we show it and let them figure out the property may be too small for their needs. Good luck!