Originally Posted by
realazy
My anecdotal experience with property management companies for rentals is that they only do work at the beginning to find the tenant and after that all they do is collect their percentage of the monthly rent. It's almost better IMO to just use them to rent it out if you don't want to deal with it then manage the day to day yourself if you can.
The monthly management fee is usually 10-15% of the total rent charged. This sucks for a condo because that's a percentage of top line revenue before your condo fees, property taxes, and etc. The property management company we dealt with just forwards all the tenants' inquiries to the owner directly. If something needs maintenance, they will not schedule anything nor will they open the door for the trades to enter and be present for the service. This is especially tiring if the tenant themselves are unwilling to be present and expects the problems to be fixed without their involvement.