Have become experts at charging fees and decreasing their value
We used Bennett Property management to look after four houses we had in the Chandler area for close to ten years.
Some words of caution.
• Leasing fees, signing fees, advertising fee, management fee, tax prep fee… just keep your checkbook open
• When you are budgeting give yourselves a couple months for each vacancy.
• Each repair and appliance that comes up be prepared to pay about 2x what you’d expect. While they may get a couple quotes it’s all from their “approved” providers. When we’ve priced it out other places there were significant gaps
• Tenants continually complained about not getting ahold of the management company. When I switched management companies there were “must have” items neglected that should have been addressed… neglected roofs, a water leak, etc
If you are looking for property management companies keep looking. Some of the people there are nice… but that doesn’t justify the mountain of fees for poorly performed work.