Allen’s mother had reached the point where she needed to move into an assisted living facility. Allen decided to hire a property manager to rent out her home. Allen had never shopped for a property manager before, but it shouldn’t be any different than shopping for anything else, right? Just the other day, he stopped at Tony's Fresh Produce and bought bananas. He asked Tony how much he wanted for the bananas and Tony quoted a price. How much harder could this be?
Without realizing it, Allen’s prior experience with bananas caused him to make five bad assumptions. They are:
- All property managers cover the same services under their monthly fee.
- Property managers only need a little information to determine the cost to deliver the needed management services.
- The monthly management fee will always cover all charges.
- All property managers perform all tasks required to maximum income.
- All property managers have the same training, experience, dedication, and competence for providing property management service.
- Allen found five property managers on the internet. He plans to get bids from them and only talk to the two or three that offer the lowest prices.
