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Choosing a manager
Two quotes at the same percentage can differ by thousands over a year. These are the questions that expose the difference before you sign rather than afterwards.
The first question
Not the percentage: the schedule. Every fee and the event that triggers it, including placement, renewal, inspections, eviction handling, any setup fee and any minimum that applies while a unit sits empty.
Then model the first year with placement included. A provider at 10% charging a full month on placement costs around 18% of rent in year one, which is a very different number to one at 12% with placement included. See the fee ranges.
Then ask about the markup on contractor invoices. A 10% to 20% addition is common and it is invisible in the headline rate, yet on a system replacement it is the largest single charge of the year.
Comparing two quotes
Every fee with its trigger, in writing. Anything not listed should never appear later.
Percentage plus placement plus renewal, modelled together rather than compared separately.
Whether one applies, at what rate, and whether it is capped on larger jobs.
Notice period, any early termination fee, and whether renewal is automatic.
The clauses to read twice
An automatic renewal clause resets the notice period without anyone mentioning it, so the exit you thought you had may not be there when you reach for it. Read it before signing, not at the point of leaving.
A minimum monthly floor during vacancy overrides the usual basis of charging on rent collected. Some providers apply one, some do not, and the difference matters most in exactly the month you can least afford it.
Finally, ask who actually holds the files. The tenancy record, condition reports and statements belong to the property, and a manager reluctant to say they transfer is answering the question. Compare with our agreement and the record we keep.
Owner pages
The pages that hold the numbers.
Comparing, answered
The questions that decide between two quotes.
I interviewed three managers using the questions from their own guide. They were the only one who answered all of them without hedging.
They told me which of their competitors would suit a single condo better than they would. That kind of honesty made the decision.
The reference owners they gave me actually picked up the phone and had nothing rehearsed to say. That settled it.
Contract was four pages in plain language with the termination clause on the first page. I signed the same week.
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Read articleComparing quotes
The full schedule, the first-year total, the invoice markup and the exit. Ask us too, and compare the answers side by side.
Full schedule · First-year total · Exit stated