Notes

Caveats of Using a Property Manager
A property manager is typically purchased tenant placement, ongoing management, or both. Tenant placement is usually a onetime fee that is different from 1/3 to your full month's rent. Ongoing management is paid each month and is normally 5-10% in the rent collected. However, sometimes you'll find hidden fees or another junk fees the manager may charge.
Making profits from repairs
Property management companies might have their very own in-house repair and maintenance division or even a sister company. Their main business might not come from managing properties, but from making repairs. They can charge outrageous high hourly rates on repair and maintenance. They can also mark up materials without providing you additional options to choose from.
Often times they will often not let you use another contractor. Even worse, they find unnecessary things to repair or replace to create a huge profit for your expense. Be sure to negotiate these services and ensure these are on the property management agreement. If not, pass this business up and appear elsewhere.
Extra charges during property vacancy
There are property managers that will not get money unless the exact property is rented. It provides them incentive to acquire your property rented as quickly as possible. Some companies ask you for regardless if the exact property is vacant. Some charge the identical rate as when the exact property is rented, while others charge extremely low rates.
On the surface of that, they charge you a fee for finding a tenant. Even if the exact property manager claims no charge during vacancy, there could always be a catch. doncaster property management of your friend of mine moved in on October 1st as well as the house was vacant in September. However, his property manager still charged him full commission for September. The reason he gave was because the lease was signed in September.
Late fee policy
Some property managers collect the whole late fee or fee for non-sufficient funds. They argue collecting late payments requires extra work. It is true to some degree; however it won't seem sensible to enable them to make money from it. This is true in particular when those fees are set in a pretty high amount inside lease agreement.
You might wonder when the manager is attempting to make an easy benefit from collecting such fees. In addition, these are the ones who recruited the tenant in the first place! Splitting the fees between owner and property manager, or capping what are the manager are able to keep to a degree inside a given year, seems more reasonable and fair.
Website: http://www.masonre.com.au/