Author Topic: Property management Comonies vs paying a condo fee, which is better?  (Read 1174 times)

purplish

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Right now I have a condo I'm renting out. The condo fees are rediculous though! Wondering if I sold and bought a non-condo property, if using a property management place ends up being better or more of a headache.

Mikhial

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Re: Property management Comonies vs paying a condo fee, which is better?
« Reply #1 on: November 15, 2015, 07:17:08 PM »
I don't think anyone can give you an answer if you don't give more information/numbers.

Bearded Man

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Re: Property management Comonies vs paying a condo fee, which is better?
« Reply #2 on: November 19, 2015, 10:44:09 PM »
Condo fees usually pay for the ammenities...

jnc

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Re: Property management Comonies vs paying a condo fee, which is better?
« Reply #3 on: November 20, 2015, 06:17:23 AM »
It is a bit of an apples to oranges comparison. True, condo fees could go in part towards a management company that is managing the entire complex but that's where the comparison stops.

In any case, typical property management if you have a single family home charges 10% of the monthly rent. If they're finding the tenant for you, it is usually 50% of the first month rent though in some places it could be more. Some companies charge 100$-200$ if the tenant renews the rent, though I find that to be BS.

I've personally found it hard to make the numbers work out favorably when looking at properties with condo/HOA fees.

Hope that helps.

SwordGuy

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Re: Property management Comonies vs paying a condo fee, which is better?
« Reply #4 on: November 30, 2015, 06:50:15 PM »
You can fire a property management firm if you don't like what they do.

You're stuck with the goobers running the association.