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Property Mgmt Expense estimate

1,117 Views | 2 Replies | Last: 7 yr ago by Football&Finance
Football&Finance
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AG
Wife & I currently live in Katy and, due to personal reasons, we are taking a hard look at moving closer to the medical center. I'm looking at leasing out our home and renting something near the med ctr.

I know it's only one property, but I'm going to assume that I won't have the time/care to properly manage it myself, so... what should I be budgeting for property mgmt expense? and does anyone have a firm they recommend?

If it helps, the home is new construction (2013), so I'm hoping maintenance calls are kept to a minimum.

Thank you.
Diggity
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AG
I know you mentioned not having time to do it but I wouldn't think a newer house would need much babysitting (unless you rent it to a moron).

We rent my wife's place out and I think I've heard from the guy twice in three years.

If you do want someone to manage it, these guys seem to have reasonable fees. Never used them myself though. Otherwise, you'll probably pay 8-10% of the rent each month to a typical management company.

Renters Warehouse

Keep in mind you'll likely be giving up a months rent to an agent as well (unless you lease it out yourself).



Boats and Hose
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AG
Just out of curiosity, where in Katy and what's the time frame? We may or may not be in the market for a home in the near future.
Football&Finance
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AG
Diggity, thanks for the response. Good point about sourcing expense for the renters too

Boats & Hose, PM sent.
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