Let An Experienced Property Manager Properly Manage Your Rental Units


How much do property managers charge?

Let An Experienced Property Manager Properly Manage Your Rental Units

When it comes to hiring a property manager, many people will think that these professionals usually charge them a fortune and that is why they will generally not consider hiring one. However, the good news is that as a property owner, you can easily find and hire an Economic property manager, but only if you’re ready to invest some time and effort in looking for one.

“All progress takes place outside the comfort zone.” ~Michael John Bobak

To help you out a bit, we have come up with some useful advice that can make it easier for you to hire one such professional and hopefully be pleased with his services.

Where’s your property located?

If your property is like 100 miles away from where you live, then it’s obvious that driving to it every single day can easily become not only stressful, but also pretty costly. In this case, hiring a property manager would certainly help take a lot of pressure off your shoulders. To be more specific, whenever tenant complaints arise or you need to find new tenants, no longer is it going to be necessary for you to take care of these things.

It’s now your property manager’s responsibility to handle them, so while he’s at it, you can just relax and take it easy, having the peace of mind someone with great experience in this field is taking care of everything for you.

The number of units you own

The more units you have, the more responsibility sits on your shoulders. Also, if you have a lot of tenants, then you’re also going to have a lot more complaints, maintenance issues and similar problems, so that is why it’s best that you let someone handle these things for you.

No more will you have to worry about waking up early in the morning and feel stressed, since that thought in your mind saying ” My Property Manger is going to take care of everything” is going to give you the peace of mind you need to relax and not worry about your property anymore. Remember though, if you have a lot of units to manage, then it may even be necessary that you hire 2 property managers.

His experience dictates the cost

How much do property managers charge? Well, you’re not the first person to ask herself this questions. In fact, the amount of money it costs to hire a property manager depends on his experience. The more experience he has, the more money you can expect him to charge you. In general though, it’s about 5% or even up to 10% of the annual rent of all your units. While some people may think this is a bit much, it’s actually not considering the many responsibilities such professionals have on their shoulders. Keep in mind that some of them can also charge you a tenant placement fee, which is a separate fee that’s paid for every new tenant he finds.

With that being said, if you’re thinking “I’d really want to have someone else Manage my rental property” because it’s too much for you, then it’s only natural to start looking for a property manager right away. Just make sure to do your research properly and soon you’ll find yourself stress free and with a lot of free time on your hands.

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