On today’s show we are talking about how to choose a property management company. Property managers come in all shapes and sizes.
There are those who have strong corporate systems and processes and are excellent at managing hundreds of units on a single property.
Then there are those who specialize in managing third party properties but do not dedicate staff to a single property. A single property manager might have a dozen or more clients.
There are those property managers who aim to maximize their income on the back of the property owner. These property managers charge extra for everything. You want a site visit? that’s extra. You want the property manager to call a handyman to repair a ceiling fan? There’s a fee on top of the handyman conducting the repair. You want the property manager to call for trash pickup when the bins are full, there’s a fee for that too.
Then there are the class of property managers who think and act like a property owner. They realize that the path to maximizing their own revenue is by maximizing the income for the property owner.
Sadly these types of property managers are in the minority.
Host: Victor Menasce