Property Managers Professional Opinion: Ray Bloom
Property managers, like lawyers, typically charge their clients hourly rates. It is a practice that has been going on almost forever. it is one of which I strongly disapprove. At John D Wood we only charge our clients .xed property management fees. Because it provides transparency, leads to a better relationship with clients. Which helps us win repeat business.
I don’t wish to sound holier than thou, but a client that pays hourly rates to its property manager. Which is left in the dark. It is inevitable that, pretty soon in the relationship, it will be billed for, say, 10 hours’ work when it had been expecting three. It is human nature that a manager who charges by the hour will drag its heels or take the longer route to a solution.