Flat rate property management fee?, page-4

Hi acorn

I believe that property is the best investment option for the majority of people because they can see it, they can monitor it, and it is not too involved or difficult.

But as with all investments the only person you can trust is yourself, everyone else is looking after their own interests so are biased in their advice and actions

From my experience the standard of property management is abysmal so if there are significant reasons that you are unable to do it yourself you have to use an agent

This still does not let you off the hook because you MUST study the real estate law and consumer affairs so that you know what is happening to your investment and understand that you are employing someone so you have total rights to monitor and correct them if they do the wrong thing and if they don't do the right thing, sue them or sack them and move onto someone else

Basically all you are paying for is "service" and if the one you have chosen does not supply it go elswhere

Most Real Estate Offices use Property Management as a "cash cow" to finance the rest of their business and use minimal staff and the cheapest staff to operate that side of the business.

So the result is that you have a bevy of young girls who although they may be nice, polite etc they have NIL knowledge of housing construction or maintenance and yet this is what in part you are paying them for

You finish up with a rent collector not a manager and if you only want a rent correcter tell the tenant to pay the money into the bank and save the commission

Although Rental laws vary from state to state and are biased towards the bad landlords and bad tenants there are still ways to alleviate the problems and your manager must know the law fully to be able to interpret a safe path thorough it

No investment happens by itself you have to work at it and to give your half million dollar investment to the care of an inexperienced person is the same as walking down the street and stopping the first person you see and giving him/her your $500 000 to invest for you