Property Management Tip #2 - Beware of Discount Property Management

By
Real Estate Agent with NEPTUNE REALTY 0225-075558

If you are considering professional property management, it makes sense to comparison shop, but beware of discount management fees.  If you find someone who charges 2% less than others on the management fee of a $1,200 monthly rental, that's a savings of $24 a month which adds up to a whopping $288 over the course of an entire year.  But an inexperienced property manager can cost you much more than that by putting the wrong tenants in your property or failing to adequately protect your interests.  These mistakes can cause your house to be damaged in ways that you don't even realize until years later when you go to sell it.  If the mistakes are not intentional mishandling, you may not have any recourse against that agent when they cost you thousands or tens of thousands of dollars.

Check into several property managers and you'll see that the fees are all generally similar in any local market.  The real question you should be asking is, "What do I get for the management fee I'm paying you?This is your real estate - base your decision based on quality of service, not lowest bidder.  A discount is not always a bargain.

Posted by

Search the MLSDrick Ward, Realtor and Broker Associate    757-575-5156

Neptune Realty - Virginia Beach, Virginia

 

Contacts Information 

Comments (0)