Property Managers Can Make or Break Your Real Estate Business!

The importance of finding a successful property manager cannot be overstated. Even after that, you can keep track of anything that happens on your house. It’s important to remember that this is a company…your business. If you’re not careful, your investment could turn into a liability. see here

Although the fee a property manager charges is essential, the service you receive is even more so. On average, we pay 8% of collected rentals per month. You may find someone who will charge you just 5%, saving you money, but they will ruin your business in the process. We have yet to find a decent property manager who charges less than 5%. It’s not as necessary to save money as it is to hire the right property manager to look after your investment.

Your objective is to:

Expenses such as electricity, maintenance, and so on should be reduced.

Tenant turnover can be avoided.

Rents should be raised to keep pace with market rents.

Property managers are not partners in your business. They are on your side! They can make suggestions, but that’s all they can do. Consult them as a resource, but the final decision is yours to make.

It’s important that you clarify how you want things done to them. Then you must pay careful attention to ensure that they are following your instructions.

You should always question whether a property manager thinks something has to be fixed. The kitchen light was once said to be broken. I requested that before sending the handyman to fix it, they first ask the tenant to check the light bulb. The dilemma was solved by actually adjusting the light bulb, believe it or not. Your property managers can only send maintenance personnel when it is absolutely appropriate.