We charge 5% of all gross receipts and expenses.

Yes, for your first property, the onboarding expense is $750; for properties 2 to 4, it is $250 each; and for properties 5 and above, it is $100 each.

No, you are not able to make changes to the management agreement.

Managing your rental property yourself might seem like a cost-saving decision, but it often comes with significant challenges and risks. Here are some reasons why it may be better to hire a professional property manager:

Legal and Regulatory Compliance

• Complex Laws: Landlord-tenant laws, fair housing regulations, and local ordinances are constantly changing. Failing to comply can lead to costly legal disputes.

• Evictions: If you need to evict a tenant, it requires proper legal procedures. Mistakes can result in delays, fines, or lawsuits.

Tenant Screening Challenges

• Quality Tenants: Screening involves more than just a credit check. Property managers use thorough processes to verify income, rental history, employment, and criminal background.

• Risk of Bad Tenants: Without experience, you might inadvertently rent to someone who doesn’t pay rent or damages your property.

Time Management

• Ongoing Responsibilities: Managing repairs, maintenance, rent collection, and tenant complaints can be time-consuming, especially if you have multiple properties or a full-time job.

• Emergency Calls: Property managers handle late-night emergency calls, freeing you from the stress.

Marketing Expertise

• Vacancy Reduction: Property managers know how to market your property effectively, pricing it competitively and attracting quality tenants quickly.

• Online Presence: They often have access to multiple listing platforms and professional photography resources, making your property stand out.

Maintenance and Repairs

• Cost Control: Property managers often have established relationships with reliable contractors, offering better rates and faster service.

• Proactive Maintenance: They schedule regular inspections to prevent small issues from becoming costly problems.

Rent Collection and Financial Management

• Consistent Income: Property managers enforce lease terms and ensure timely rent collection, reducing the risk of financial loss.

• Financial Reporting: Many managers provide detailed financial reports, helping you track income and expenses easily.

Stress Reduction

• Dealing with difficult tenants, disputes, or unexpected issues can be overwhelming. A property manager acts as a buffer, allowing you to enjoy the benefits of rental income without the associated headaches.

Managing a rental property may appear straightforward, but it requires time, knowledge, and resources to do it effectively. Hiring a property manager ensures your investment is professionally handled, maximizing returns and minimizing stress.

Yes, 208.properties is designed as an Investors Property Management Company. We have a clause in our lease that not only allows you to sell the property as an investment, but you are also able to sell it as an owner-occupied property. We are happy to discuss the details of this in depth if you are interested.

All tenants are run through a background, credit history and eviction history screening. After passing those screenings we start doing the legwork, contacting the employer and verifying their income and job status. We then contact their current and prior property managers and verify they were good tenants, we ask a number of pointed questions to ensure we get a good idea of how they were as tenants such as: Did they have any late payments? Did they have any lease or HOA violations? Did they get their security deposit back? Did you ever file for eviction?

We have a wonderful marketing team at ensures we have a large online and social media presence. In addition to listing properties on all the major syndicated site (Zillow, Zumper, Apartments.com, etc) we push your property out on our socials and our website.

We ask you to refer any potential tenants to 208.properties to run through the screening process.

Please see all criteria here: https://www.208.properties/rental-policies-and-procedures

This varies based on price, location and seasonality.

You will get paid on the 10th of the month or the first business day following the 10th.

The late fees go to 208.properties to cover the efforts involved in bringing the account current.

This is discussed on a case by case basis with you our investor.

208.properties holds all security deposits in order to ensure the seamless move out process.

When residents move out we have a maximum of 30 days to return the unused portion of the security deposit, this is slowed down if we have to request the monies back from the owners.

This is handled based on the time of year the lease is written. We recommend not doing longer than 12 months for the first lease.

No, the lease is legally binding for both parties.

If a tenant stops paying rent, we will work with the tenants to try to resolve the issue. We are unable to resolve this issue 208.properties offers and Eviction Guarantee in our Owners Benefit Package.