All Forum Posts by: Kenny Dahill

@Adriel Hsu where is this property located?  Curious what the average rents are, to help understand determine your 8% monthly fee and the value they should bring.

Hi @Chase Gu I would have it executed but not sent.  Contracts are always better held if it is contingent on another action.  Make them aware of your intent but it is a technicality, so they aren't upset trying to communicate with you and know it will be quick once closed.

@Nathan Gesner is spot on as always.  Also consider reviewing Indiana property management law, if it stipulates any type of return policy then make her aware.  Great content for that letter you're sending to the broker!

Outside of this, have they been a good property management company?  If so, I recommend paying the $520 but making it very clear that if it happens again you are only paying the $350.  Then get an addendum executed that clarifies that clauses, plus double check your Property Management Agreement for anything that could be open ended.

If they've been difficult, tell them they are in breach of contract, pay the $520 and find a new PM.  An extra $170 isn't that much but it could be a foreshadow of future big unexpected fees.

Yikes!  I give benefit of the doubt, but eventually after enough troubles I believe in hard proof for everything.  Having a 3rd party inspector is well worth the money if you are out of town and need another set of eyes.  They typically don't make any money based on the complexity of the project so there's no reason to fabricate a false story.

I definitely think a lawyer would be useful to help get back your fees.  And of course the PM is going to let you out of the contract, he's already made his money and ready to run!

Hearing stories like this is exactly we wanted to start Burbz.  Not only is it important to identify great PM's but also expose the bad ones.  You should consider reporting your PM to the state's Real Estate department as well.

Hi @Chase, typical rates are 8-10% and 75%-100% of 1st months rent.  Most do not have a mark-up on the vendors, depending on the size and complexity of the scope.  If it's a major renovation, you should expect fees.

I'll send you a PM with additional information as well.

Hi @Marc G., we recently helped a user find a PM in Dallas, GA.  Dallas isn't too far from Marietta, maybe some of those PM's service Marietta as well.

I'll send you a PM with more info.

Hi @Caleb Clay, what part of town and what class of properties?  PM's have criteria of their own and aren't always interested in every property.  I'll send you a PM with some more info about Indy PM's.

Absolutely!  It shouldn't cost you any extra, it's more of a protection.  It just required an update in paperwork.

Hi @Peter Sik, it is a fairly common clause in Property Management Agreements.  How often it is actually audited, not sure.