Published on March 2nd, 2014 | by Chris Snell - Rental Success0
Monkeys Manage Rental Properties – Discount Property Managers
One of the most common and costly mistakes landlords make when they are searching for the best property manager to manage their rental property is the mistake of shopping around based on low management fees.
More often than not, the agent who is prepared to give generous discounts with their own money is sure to do the same with your money and your investment property. This might seem absurd but some investors become so mean in the negotiation process that they actually lose sight of the main game – securing a good property manager. Discount property management fees will produce discounted property management services. Get help to “Rent out my property,” or “Rent out my property well” …. the choice is yours.
A good property manager might be charging a management fee that is one or two percent higher than the other but chances are you are going recoup that in better services and better result standards. I suggest that you break-down the calculations and bring it back to the dollar difference per week. In some instances the desperate landlord is squabbling over a fee gap of $2 – $5 per week. Surely the services of a better property manager at the added cost of a cup of coffee is value money and seemingly a good investment.
We’ve all heard the throw away line “pay peanuts and get nothing but monkeys”, I wonder how you’d feel about a monkey managing your investment property?
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Written by Chris Snell, Property Manager Australia, Rental Success Blog