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Don't get caught paying these fees... | Understanding Property Management Agreements

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To learn more about Ken's Real Estate Master Course follow this link: bit.ly/3kWNijc
Join Ken as he talks with Lesley Brice, who is his partner running his property management company, MC Companies. They talk about an example property management agreement with a close examination on the fee structure.
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Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
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If you are interested in learning more about this topic you can follow these links:
How Much do Property Managers Charge? Fees, Costs ...learn.roofstock.com › blog › how-much-do-property-...
To help you understand what property management fees to expect and what services they cover, we spoke with three experts: Mike Nelson of Excalibur Homes, ...
A Breakdown of Property Management Feeswww.thebalancesmb.com › Industries › Landlords
What Is a Property Manager? Landlord handing keys to a couple in an empty apartment. What Is a Rent Roll?
Property Management Fees: Here's What Landlords Should ...www.biggerpockets.com › blog › 9-sneaky-fees-watch-...
Jul 15, 2020 - Property managers make life easier for real estate investors, but landlords must understand the typical property management fees and cost ...
Property Management Fees - Part Iwww.managemyproperty.com › articles › property-ma...
For a single family home you might expect to pay 10% in rental property management fees. This fee will vary based on the number of properties you need ...

Опубликовано:

24 авг 2024

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Комментарии : 37

@kristiedickamore7304 3 года назад

I moved last year and rented from a place under management. The management company had a policy that the water had to be turned on before they'd give the tenant the key. But they didn't make sure all valves were off. All 4 apartments in the building flooded. Then, when they did the walk through with me, just before "close of business" and discovered the flood, they didn't act on it until the next day. And if that weren't enough, they had someone try to connect the fidge's ice maker that wasn't hooked up and caused more flooding. So this damage affected me, moving in (yes, the market was very tight so I moved into a flooded apartment) and the three other units (only one was owner-occupied) AND the management contract said they aren't responsible for water damage done to the apartment. The owner was stuck covering it all, cleaning up their mess, and potentially paying for the other 3 units' damage. Management companies really can screw the owners in the contract. So I really appreciate your candor in explaining the contract fees here.

@mpaulino6119 3 года назад

Ken McElroy is underrated and undervalued for sure..

@rentospropertymanagementso4895 3 года назад

Helpful hints about hidden charges. Thank you for the video.

@jordanaubrey-realestateinv334 3 года назад

The fees are small but they always add up quickly.

@Alex-ew9bs 2 года назад

Love Ken’s videos

@Daveymaxx-sl7ik Год назад

Good info. Thanks

@wadesuhr 3 года назад

Holy highway robbery. Fees + Fees + Fees + Fees + 12% !!!

@flip1980ful Год назад

MY management company made out like a bandit. Im on a payment plan and my properties don’t look any better for it. 🤦🏻‍♂️

@mattb8591 2 года назад

The problem with this video is they are conflating the fees from the management company and fees they would incur without the management company. It’s not the management company’s fault the rent on this condo is $1,000 and won’t cash flow..

@shelleyragusa9598 3 года назад

Way to make us all look bad! Been in property management for 20 years! It can be a thankless job! I hold myself to integrity and do not nickel and dime my investors as this is relationship business! Fees cover expenses! We can’t work for free!

@dstorm2.02 3 года назад

Like Ben Mallah said, no one else will take care of your baby more than you ( rental apts). Guys, take the chance handle investment stuff yourself. That is like trusting someone else briefcase full of 100,000 dollar bills. 9 out 10 property management are BAD, not a good %smh-geesh

@Michael-qy1jz 3 года назад

Great talk as always, buuuut , Those ability to raise rents also turn down to lower rents as these. Bubbles pop and this economic depression unfold.

@Planetgreenzen 3 года назад

Always great videos and information Ken. Thank you!

@marcanthony9923 2 года назад

Ken, what property management company do you use in Las Vegas?

@michaeleaston547 3 года назад

A lot to watch out for. Thank you.

@entrepreneurpodcasttv1239 3 года назад

Always useful content, Ken! 👍

@spaceworm123 3 года назад

I run a family owned property management company in San Francisco, and we don’t charge ANY of these absurd fees. (And we probably should have some fees for the legal hoops SF makes us jump through)

@GreggoryThorpe 3 года назад

Great video. Can't wait to see the progress

@futurewolffilms607 3 года назад

Awesome. Thank you!

@wellness-strides 3 года назад

Thanks for sharing.

@anniealexander9616 3 года назад

Great information!

@juanjmoran6951 3 года назад

Great info thanks

@gonnell64 3 года назад

Real education!

@ValPerez711 3 года назад

Goodmorning Ken, thank you for all you do. I live in San Antonio, not sure if you still have properties here but who would you recommend to property manage? I appreciate it. Take care

@lynnguyen2106 3 года назад

Hello Mr Ken I would like to start to learn flip the house . Could you help me how to have good buy or foreclosure ? thanks.

@CaseyBurnsInvesting 3 года назад

Sheesh. These will push you into the red slowly and sneakily.

@Richard-ci7de 3 года назад

Whats the name of your property management guy in Las Vegas?

@OscarTorresWork 3 года назад

I was going to ask that too!

@macfahad 3 года назад

This property management company is insane. I’ve never seen these fees all on one agreement. Usually they have a verity of fees, take out one but have another, but this is crazy on top of it all 12% geez. Not sure what the average in NV is but that is insane after all the fees.

@edcarrington 3 года назад

That is one robust contract!

@OscarTorresWork 3 года назад

Maybe too robust and unreasonable, they will be losing future clients.

@OscarTorresWork 3 года назад

Great video the property management fees mentioned here make you not want to get into Real Estate Luckily there is more than one way to skin a cat. Thanks for the tips!