Lord help me if I run into another would be property manager who just came fresh from some seminar and thinks they know everything they need to know to run a property successfully. This is not a get rich quick business. This is a customer service relationship business. The faster this notion becomes clear to the property owner or manager, then so much better for everyone involved in the process. Having some sales experience is always a plus, but customer service […]
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Good news travels fast, and bad news travels even faster. For you to be on top of your game as a landlord you need to have measurable information at your fingertips at a moments notice. Think about it. In medical terms, the patient is your dear and beloved property. That would make your property manager your attending physician monitoring the health and well being of the property. You would not want a doctor that knew or even suspected a problem or […]
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When you are interviewing a property manager ask to see a copy of their service contract. This is a good indicator of how any given scenario may play out once they are your manager for your property. A typical property manager contract is just like a tenant-at-will rental agreement you hold with your tenant-at-will resident. You want to be able to end the contract mutually either way in 30 days. If you are not happy with them and the service […]
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How many properties does your property manager own like yours? This one is kind of a trick question. Most property managers started out managing their own properties and then take on similar properties like the ones they already own. That makes pretty good common sense. However, you have to keep your eye on the ball here. I have heard stories of some unscrupulous property managers actually taking good tenants out of properties they manage, and placing them into properties they own. […]
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