Of course pricing is important, but should this be the only reason you choose a property manager? We think it shouldn’t even be the #1 reason. As the old adage states, “You get what you pay for”… Here’s a quick blog post from Eddie about Property Management Pricing.
Property Management Pricing
A friend of mine, another local property manager, sent me an email about an out-of-state owner prospect call. He just wanted to know price. “What was your management fee?” That’s all he really wanted to know. My friend gave him his local rate. When he tried to get more into the conversation, the out-of-state gentleman said “All I’m looking for is the cheapest price.” So my friend recommended a few very cheap local companies and hung up the phone.
Dirt Cheap Fees = Dirt Cheap Service
You really get what you pay for out there. If you want dirt cheap that is exactly what you will get. Which is a dirt cheap management fee and really no other services. It’s kind of like buying a burger over the phone:
- You don’t know what it looks like
- What it tastes like
- OR where it’s coming from.
So you could be buying a McDonald’s burger or you could be buying the best burger in town.
When to Consider the Fees
When you are looking for a management company, I hate to say that the last thing to worry about is property management pricing. First, really get to know that person who is going to manage your property. Learn exactly what they do for you. And THEN see where their fees lie and see if that is acceptable to you.
Just a quick tip today. Thanks for reading!
Want to see our pricing? We have it all laid out on our Pricing page. Better yet, we have an exceptional blog about What to Expect From a Professional Property Management Company.