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Originally Posted by Orkrist
I have a rental property and began by using a management company, which was a huge mistake. Everyone told/warned me, and said it would be a disaster. My thinking was, how bad can a professional company be? How can these stroies be true? After it was all said and done, I found the tenant myself, and the PM has been pretty mediocre in everything they have done. They don't charge very much (8%), but it was a big mistake and the contract expires in May, thank god.
The best thing to do, acccording to my friends, is have a friend who is trustworthy keep an eye on an out of town property for a few bucks, and have him be the contact person, or just deal with the tenants yourself since you have just the one property.
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Mine is 8% too, thought is was pretty reasonable. But now I see how this guy makes his money.
I am working with a realtor friend of mine in SLC to see what solution I can come up with. He is calling me back on Monday.
Interesting to read that others have had crappy experiences with PM's too.
Live and learn I guess. The biggest thing that ticked me off more than anything was the guy saying one thing and then doing the other. And how he spoke to me on the phone. He wouldn't answer my questions straight up and did everything he could to convince me to pay up.