Let me know what you think of this article. I was trying to paint a good picture of the things you must know before you hire a property manager. I have also included a couple of pictures of some recent properties we listed and rented out. What do you think of the quality of the rentals? You can read the article at tampa property management link.

Let me include some of the highlights. Most property management companies charge huge penalties if you wish to fire them for poor performance in the first year. I have seen fees of $500-$1000. One management company refused to allow the owner to fire them and hire us and threatened a lawsuit. He said he rented the 3 houses a deserved the management fee for the whole year. I could not believe this guy would hold his client hostage. So, you should check the property management agreement very carefully to make sure these penalties are hidden in the contract. If you find them, you should negotiate them out or find another property manager.

You also want to try and find a property manager that actually owns rental properties. After all, you want someboby managing your property that believes in their product enough to actually own some for themselves. You would be amazed how most property managers own no rental properties. It makes you wonder if they are skilled enough to keep expenses down and units rented.