Mendell Gosnell, CPMPrincipal Broker, Centurion Real Estate Services · Helping Real Estate Investors Build Generational Wealth Through Smart Property Management | Branch Offices in Salem, Corvallis, Eugene and Redmond.

The Hidden Fees of Property Management: What You Need to Know in Salem, Oregon

26 Feb 2015 · 2 min

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2:04

In this concise video, Mendell Gosnell of Centurion Real Estate Management explains that property management fees should be fully transparent, yet many companies hide costs by stripping services and charging extra fees à la carte. He warns that low headline fees can be misleading, emphasizing the need to compare the full suite of services and their associated costs—focusing on the bottom line rather than the top line. Gosnell advises landlords to scrutinize what is included versus what is extra, to avoid unexpectedly higher expenses, and invites viewers to contact his firm with further questions.

Chapters

Hi, my name is Mendell Gosnell with Centurion Real Estate Management. Today I'd like to talk to you about hidden fees in property management and some things you should know. Really, there should be no hidden fees. Everything should be disclosed and transparent. However, in an effort to keep management fees down, some Some companies do strip out a lot of the services and bill those as extras. Now that's not necessarily bad, and sometimes it's a way to offer inexpensive services à la carte and just choose the things that you need, but it's something that you should be aware of and something that you should pay attention to when you're comparing property management companies. Some companies try to do this to appear to be the low-cost leader, but in reality come out to be much more expensive. So one of the questions that we often hear is, "What does it cost?" or "What do you charge?" Something that you should be aware of and understand is when you're comparing property management companies is that in order to compare apples to apples, you really need to know not just what they charge but the services that they offer and what they charge for any additional services. So oftentimes people pay attention to the top line when really it's the bottom line that's the most important. So top line is less important than the bottom line. There is a reason why we have the expression, "If you go cheap, sometimes you could pay dear." So, things to pay attention to, and we hope this helps. And if you have any further questions, contact us today.