Nowadays most rental properties are under 3rd party management i.e. landlords use property management firms and while this has allowed for greater objectivity i.e. landlords focus on the business of investing it also distances landlords from their clients; i.e. the tenants, and this can result in misunderstandings and important information getting lost in translation. Landlords […]
Tag Archives | property manager
Firing your property manager is a Landlord’s right and many do it without a second thought. Landlords have the power to do it and for some there’s joy of taking the action with a sense of accomplishment i.e. increasing in cashflow by getting rid of the property management fee. However as we know good times don’t last and this is when property managers come into their own and landlords using them breathe a sigh of relief.
With ever-increasing costs, Landlords often wonder if they’re doing the right thing using a Property Manager, and it’s a topic that’s discussed a lot on PropertyTalk. Why pay for the service when they could do it and save hundreds of dollars every year per property? Well one reason to not do it yourself is all the rules and legislation. The use of property management firms is increasing due to the complexity of owning rental properties today.
Referrals speed up the property manager selection process for landlords and it’s why asking for referrals is a popular activity on PropertyTalk.
However what do you do when referrals are thin on the ground and you need to engage a property manager immediately? Thankfully the answer is online and Landlords can now ask prospective property managers a list of pre-qualifying questions.
While property managers are a dime a dozen these days – doing the job well is no easy task. Arguably there are too many property managers in business whom are not doing the job particularly well.
Property Managers have to put up with a lot though.