Found 2 blog entries tagged as Property Management.

2 photos showing the difference of a landlord of a Scottsdale home with or without a property manager

You know that feeling when you're convinced you can handle something yourself? That smug satisfaction of skipping the "middleman" and keeping more money in your pocket? Yeah, I had that feeling too. Spoiler alert: it didn't last long.

When I bought my first rental property in Scottsdale, the math seemed obvious. Property managers typically charge around 8-10% of monthly rent. My place rented for $2,000 a month, so we're talking roughly $200 monthly, or $2,400 a year. That's a decent chunk of change. I thought, how hard could this be? I'd save thousands and pocket the difference.

Turns out, very hard. And very expensive.

The $2,400 Decision That Haunts Me

Let me paint you a picture. It's 2 AM on a Tuesday. My phone buzzes. The tenant is…

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What do you mean by Property Manager?

A property manager is a third party who is hired to handle the daily operations of a real estate asset or property or an investment. He or she is a person or firm charged with operating a real estate property for a fee, when the owner is unable to personally attend to such details or is not interested in doing so. They can manage all types of properties, whether it’s a commercial property (like a large apartment complex) or a residential property (like a single-family home).

Responsibilities of a Property Manager

  • Responsible for Rent:

    • Setting rent: Property managers have a deep understanding of how to set the right rent level to attract the tenants. They charge according to the location…

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