Comments on: Should you Hire a Real Estate Property Management Company?

By: golferwhoworks

golferwhoworks — Thu, 10 Dec 2009 01:00:59 +0000

that depends on the fees of a management company and then getting a tenant to do the job you hire him to do. Most mng fees are rent based so now you have to do the math yourself
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By: gafpromise

gafpromise — Thu, 10 Dec 2009 00:58:59 +0000

You’re better off hiring a management company – it’s worth the extra money for peace of mind. There are just too many potential issues I can think of with having one of the tenants do it – so many pitfalls and so many things can go wrong in that scenario.
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By: Fast Pace

Fast Pace — Thu, 10 Dec 2009 00:56:59 +0000

Well, if you do not have much maintenance in the place, like pool, yard etc. You can get the tenant to do it as long you put it very clear in the rental agreement. Some tenants are just looking for a gap to take advantage of, it happened to me. Put penalties and bleach of contract too, so you will not get screwed!
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By: mas8baller

mas8baller — Thu, 10 Dec 2009 00:54:59 +0000

I’m in america but I would guess legally that for yourself & the properties sake it would best to get a real management company involved even at the extra cost because if you ask someone to do it for you there seems there could be liability issues not to mention short cutting against you or other tenants which wouldnt look good for you. Where as a management company would have insurance & be bonded not to mention have a reputation plus connections & discounts you might not get and thus in the end work might end up being cheaper even though you would pay more in a fee. Any work done though might save more and thus make up for that extra money paid in the monthly fees and again if something happens its on them & their insurance / reputation not so much you. Also there are usually laws and codes that would have to be followed especially when work is done & most people wouldnt know any or all of them where as a management company would have to have people who did or else they wouldnt keep business.
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Just a guess

By: Independent_guy

Independent_guy — Wed, 09 Dec 2009 19:52:58 +0000

Real Estate Investments – should I hire a property management company or ask one of the tenants?
to help with maintenance issues for a fee say $100 a month instead of hiring a property management company? (I will take care of rent collection in both scenarios) it’s a 4-plex in a city 4 hours north of Toronto where I live. What makes more sense? THANKS.