Hello,
Can anyone share their experiences with owning a unit that has managment rights.
I backed out of this deal based on the following.
Property cost $140k brought in $27k
and i only ended up with $4 in the hand at the end could do that with a house with low returns. only one making money was the property manager.
Costs:
bc 2.2k
rates 1.2k
pay tv $50/ night it was rented out charged to the owner, not the renter/holidayer.
12% management fee
advertising fee
cleaning fee
laundry fee
internet fee
sundry fee
banking fee about $40/mI think they even had a fee to flush the toilet. Joking, anyway, they could not even give me an itemised statement with the annual fees so i pulled out.
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