Didn’t see anything on the forum about property managers, I thought there was. Looking for the pro’s and con’s to using one and what to look out for. Have a deal working hear in Pa with a broker and they offered the use of their property manager for 5% of the gross which would be $35.00 a month. Using a manager with morgage and taxes, subtracting the rent, still would leave me with a positive cash flow of $125.00. Nothing has been agreed on yet. Opionions? Thanks.
Howdy In-pa:
Be sure to ask about repairs and find out if they add a premium to the repair invoices. Also get an agreement as to who finds new tenants and what the fee is. Some charge 50% and some charge 100% of a months rent and some charge a higher fee monthly and will get new tenants at no extra charge. It is worth the fee especially if you are not hands on and can earn more money doing something else. There are other considerations to discuss as well like who goes to court for evictions etc. Try to get it all discussed before hand
LOL