Today, in our second of three blogs on real estate property management, I give some thoughts on Property Managers and Property Management Companies. I have worked with a couple of dozen different companies over the past 17 years and have learned a few things that I will try to pass on to you.
These days I have had more success with a hybrid system, where:
a) I hire a person to be my on site representative.
b) I take care of the advertising and set the rents,
c) this person then meets the tenants and gets and app filled out,
d) I verify if they are okay or not,
e) then my on site person does the lease, the tenant inspection report and takes pictures.
f) the rent money gets sent to me. If the tenant is late I get the on site person to pay a visit. If there are still issues then I take care of anything legal.
g) together we plan how best to deal with Repairs and Maintenance.
As always, if you want to talk about anything relating to Real Estate investing or you have capital to invest and would like to do a Joint Venture please get in touch with me.
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Happy investing, Darcy.