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Anyone looking at airline stocks or ETF play?
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Thoughts on Fundrise?
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Subject Expert
They will make decisions on expenses for you, but you are responsible for paying the bills
My understanding is that you’re on the hook for maintenance and repairs, but that your management fee will often cover the expenses of marketing to new tenants and the application process.
You will pay every expense. They charge for the management alone. But there’s a threshold of what they’ll bother you to approve versus what they just pay without asking. You’ll get a net distribution monthly of what’s left after they collect rent and pay expenses.
For reference this is for the DFW market
They infact can charge you premium.
What’s the typical rate structure for property mgrs?
Coach
Typically a percentage of rent 8-10%. You will get some spirit airline type property rental managers that do a $99 monthly rate. But you also get what you pay for and my question would be do you want to risk a half million dollar asset?
My landlord is willing to come down on my rent if I become the property mgr. However the LL is expecting me to cover expenses for a few hundred dollars saying that’s what any property mgmt company would do. My understanding is most, if not all PMs pass any cost to the owner
Is this a multi unit building? Because if you’re managing your own unit and that’s it that’s…not a job and sounds super weird. If there are other units then it makes sense but it’s also a real pain potentially to live on site with other tenants you manage. You’ll find them knocking on your door for things they may not have bothered emailing the landlord or an offsite manager about (bathroom light just went out, music is playing down the hall, smoke alarm is beeping). Personally I’d pass unless it’s a big rent reduction. And no the landlord needs to pay for everything that costs anything (materials, professional repairs, etc).