Consumption and Real Estate
Are Property Management Companies any good for individual Condominium owners?
Question : Are Property Management Companies any good for individual Condominium owners?
Are Property Management Companies any good for individual Condo owners to hire. I know Property Management Companies handle whole complexes and apartment houses, but are they any good for an individual who wants a Property Management Company to manage one single family house, condominium or town house.
property management companies
Best answer:
Answer by Lisa S
I never thought so.
Management companies are “for profit”. Hence, their actions will be inclined in that direction. I much prefer Homeowners Associations…despite their issues. People who live in the community will always look at things from a different POV.
Landlord? A PMC oversees condo communities so the owners do not have to hire staff to do so. Some communities are so large, that it is cheaper and more efficient to do so in house, rather than hire out the work.
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#2 written by godged 1 year ago
I have a friend that allows a PM to manage her duplex. They charge 10% of the rent every month to manage it. She does not want to deal with it, so for her it is a good investment. However, the mamagement is only as good as the company you hire. I recently listed a house that had a PM, the garbage in this house was ridiculous, it looked like an episode of hoardeds and it took 18 trailer loads to get rid of it. Obviously, the PM was not doing checks because it had to take a while to accumulate all that stuff.
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Sure, if you want to pay their fee and have them take care of all the details.
It is especially a good idea if you have never been a landlord or will be in another city/state/country.