When an owner is looking to hire a property manager, one of the first things they should ask themselves is, what do I want in a property management company? If they are like most owners, the answer is that they want the best company that provides the best service. They also must consider the cost as well. Unlike other industries, property management cost only differs by 1-2% between one another. The average cost of property management on a recurring monthly basis is around 10% of the monthly rent. It’s also a common practice to receive a discount when you have multiple properties being managed. Owners should resist the temptation of hiring a reduced or discount management company on the sole basis of price only. Often times where you see reduced pricing, you usually get reduced services. Moreover, these reduced service companies have to make up this lost revenue in other areas during the management of your home. As the old saying goes, “you get what you pay for”. As was previously stated above, the goal first and foremost should always be the best company with the best service at a fair price.