I am looking for good property management, time frame 2 months. Do not want to manage it as long as I work in current job.
Feel free to PM your references with rate.
Generally 50% or 75% of first rent for placement. Then 6% for managing each month.
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I use Summerhill property management. Placement was $1000 first tenant and $500 after that. Fee is 6%.
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@marcus335 , I have talked to Summerhill property management, they told me that they are not taking any more home as they are too busy with current homes !
The same was told by my current property manager that they are not taking any homes as they are too busy with buyers/sellers.
I recently noticed that my property manager is too busy as he is responding by evening or night nowadays.
No doubt, unemployment is low and labor shortage is high in bay area.
BTW: This is the main reason Powell is raising rates every quarter telling that economy has got potential to have inflation spike (Feel free to listen to his yesterday conference call in you tube )
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Too busy with property management or making tons of money brokering sale of houses?
- Making tons of money brokering sale of houses
- Looks like Rentals increased in bay area and PMs are all fully engaged.
We are the first client for our current PM, who started his career 12 years before. Now, he exceeds 100
SFH/TH/Condos, and can not scale further. I knew this last two years that he can not take any PM work as his sales are increased drastically.
One person operation usually stop at 100 doors 
Rents had fully recovered the sudden decline lasted from Jun last year to Jan this year. My speculation is one of the big companies have let off many folks or AMZN poached many to Seattle leaving a vacuum which is fully filled now.
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Unfortunately, nobody care your property as much as you do. So with PM being this busy, I suspect that they will try to rent the house with median price instead of top dollars. And additional 6-10% (with monthly & placement fees), we are getting much less return.
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Here is one company that a friend of mine used. But I don’t have first hand experience: http://avrr.com/property-management
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He has a team including his semi-retired father/realtor. Unless he is physically needed, he will handle all the calls by phone or send his handyman (team member) to places.
True, we care about our properties more than any one, but we need time to devote. My biggest concern is calls during office (W2) hours 8am-5pm. Regarding rent, I do measure the rents near by my areas and I am flexible to accommodate $100 less than market rent.
Any way, I am settled with a new property manager now.
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Remember PMs make their money on repairs, extras and leasing fees. Talk to the PMs handyman first before hiring them.
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San Jose had a ton of new apartments open at the same time. It defintiely created an over supply which rippled through the whole rental market.
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Is property management profitable? Should I get into this? 
You get to keep 6% of rent. The question is how much time does it take to support each door? The property management companies don’t do any of the repairs or work themselves. AppFolio automates a lot of what used to be manual paperwork. I’m not sure what % cut they take for doing that.
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Property management is all about your trades people their promptness and proficiency. And about leasing. Screening tenants is an art. The rest is just bill collection and accounting. Can be done by an online service.
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For 100 doors in SBay, it seems you’ll collect around $250k (10 leases as 1k, $200 per door per month recurring) revenue per year. Expenses should not be more than 10k for the year, probably less.
So we should all jump into property management business?
Oh, so you guys are advertising other people’s businesses?
Gee! And I see a guy complaining before of doing that.
Hypocrisy much? 
Btw really feels like rental market has slowed. We had 2 units turn over. The cheaper unit rented in the first week, the more expensive unit is still on the market after 3 weeks…
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That is not a good sign because it means net outflow. Demand of buying + rent should be the same, you either buy a house to stay or rent. Now less demand for buying + higher mortgage rate, then renters are staying instead of buying hence should be able to get same or higher rent. With both going down, it means we are experiencing net outflow!