When you’re looking for professional property management in Phoenix, AZ, it’s understandable that you’d be attracted to a company with the lowest price. However, that price could end up costing you more than it’s saving you, thanks to hidden fees and a low quality of service.
A low property management fee might seem too good to be true, and it probably is. A low management fee means you probably have a high cost if you want to cancel. That’s because you won’t be satisfied with the work you’re receiving, and you’re going to want to get out of your contract with that company. A professional, reputable management company cannot provide full services at a bargain price. They’ll collect even more of your money in other ways. You can expect to pay a premium on your maintenance costs and even sales taxes will be subject to a mark-up. For example, your 1.5 percent sales tax could cost you 3 percent when you work with a low cost property manager.
When you under-pay for property management services, you’ll be surprised at the number of administration fees that are later charged. There will be administration fees at the time of move in, and any late rent charges collected by the property manager will be kept instead of passed on to you. These property managers will also charge an administration fee to you and to the tenant when there is any involvement with the HOA. If the property manager needs to post a notice, there’s another administration fee and you’ll also have to pay for getting keys made, having mail sent to you or for copying documents. You won’t be told about these fees until you’ve already signed a contract.
A low management fee might sound like exactly what you’re looking for, but make sure you know what else you’ll be charged for before you sign a contract with a management company. Get a written list of the fees for which you will be responsible.
Contact Paramount Property Management and Realty if you have any questions about how to understand the costs of professional property management.
Saving money and time on maintenance issues is an important factor for landlords. Contact Paramount Property Management & Realty if you have any questions.