The recommendation for which PM / PMC to call will depend on the location and particulars of you and your homes. Good Property Managers / PM companies tend to specialize either vertically (by rental price) or geography (where the homes are located).
Your costs should be based on the above; as well as your financial strength, the length of time you've been a landlord, and the number of properties you are offering to the PM or the PM Co.
You will experience initial push-back from most PMs / PMCs when you try and negotiate your PM cost.
Standard PM costs in the market right now for a small landlord (less than 5 properties) is 10% of gross income collected. As your rental price, financial strength, willingness to allow the PM to handle all the details and you just receive a check, and (most especially) the number of units you are bringing over increases, your monthly PM cost should decrease.
There are HUNDREDS of PMs / PMCs out there all scrambling for business right now. You might want to call and talk to Suzette Teague first. She has been a long-time club sponsor. She is a Real Estate broker and owns a property management company. You can reach her at (817) 996-1772.
If you have questions, or if there is anything else I can do to help you grow your business, please don't hesitate to call.
-Greg
Greg Wilson
The REI Mentor
