Hello Masters,
I've acquired a rental property recently and this is my first rental property. It is about 2 hours away drive from home so I hired a property managert to help me out. I've got a few questions regarding the cost associated with the property management.
(1) What is a reasonanle cost for managing my property? ~10% of rent or one month rent?
(2) How does a property owner usually audit the maintenance cost each month? Can I require my property manager to provide the receipts for all the maintenance items? In the past two months (as I just started), each month my property manager gives me a list of repairments with cost well above my expectation, like $100 for two garage door opener, and $160 for two window blindsheet et cetera, and when I ask for receipts, he was unwilling to provide.
Thanks in advance!
I've acquired a rental property recently and this is my first rental property. It is about 2 hours away drive from home so I hired a property managert to help me out. I've got a few questions regarding the cost associated with the property management.
(1) What is a reasonanle cost for managing my property? ~10% of rent or one month rent?
(2) How does a property owner usually audit the maintenance cost each month? Can I require my property manager to provide the receipts for all the maintenance items? In the past two months (as I just started), each month my property manager gives me a list of repairments with cost well above my expectation, like $100 for two garage door opener, and $160 for two window blindsheet et cetera, and when I ask for receipts, he was unwilling to provide.
Thanks in advance!
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