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Our Apt owner may give us a rent reduction to be property mgmt. Have a question for you ladies.

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So we live in a multi family home.  We moved in a few years ago when the owner was in the apt in the house right next to us.  We get along great.  We are the oldest tenants here.

He ended up having to move and got a prop mgmt co. to oversee things.  They have not been doing their job.  The owner and I talked over the phone about DH and I taking care of things here for a rent reduction.  He is coming over tonight to talk specifics.

My question for all of you are: How much of a rent reduction would be worth it and what should we expect to be doing?  I am fine with calling plumbers and such but I can't do much to fix problems on my own.  I don't want to chase anyone down for rent, but I don't think with the people who live here now that's a problem.

Should we just stay out of this and respectfully decline or is this a good opportunity?

by on Jan. 31, 2013 at 9:19 AM
Replies (21-24):
by Bronze Member on Jan. 31, 2013 at 11:48 PM
We have done that before. I worked in the rental office as the assistant manager..and we also had the night resident keepers job. We got free rent for that part of the job.
I had to keep the pool clean, pick up trash on the grounds, answer emergency calls. I was on call 24/7. It wasn't too bad though. Walking the grounds was good exercise and I had 24hr access to the pool.
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by on Feb. 1, 2013 at 12:31 AM
What did they say? What did you decide? I'm anxious to hear how it worked out.
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by on Feb. 1, 2013 at 7:45 AM
It's best left to a pro. I'm a Realtor. My Broker has her property management license and realized there's a lot more than just a few phone calls once in a while. No less than 15% of each unit would be acceptable. I hope there's a warranty on each unit if any appliances go out.
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by Bronze Member on Feb. 2, 2013 at 4:47 AM

Try it out and see. I don't think you'll have to do that much. The property manager that he hired was probably getting 10% of the rents. He may want to do the rent collection himself and just have you show the place and do a little yard maintenance. I have a rental property and I just like having someone in town that I can call for little things.

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