rental properties & hired management - Posted by Michael

Posted by Michael on February 13, 2001 at 08:39:04:

Actually I am talking about me being the management company for investors…handling the nasty items like rent collection, evictions, etc. that may “burn out” an owner/landlord.

rental properties & hired management - Posted by Michael

Posted by Michael on February 12, 2001 at 14:36:55:

How many of you own rental property? Do you manage yourself or hire someone to handle the details for you? What I see around here is kinda expensive, (half the first month’s rent to sign up, then 10% per month). It’s tough enough to make positive cash flow even if you manage it yourself.
If you do manage it yourself, at what point, pricewise, would a professional management company become interesting? I’ll admit, I am toying with the idea of starting a property management business. Thanks for any thoughts.

Re: rental properties & hired management - Posted by dandrews

Posted by dandrews on February 12, 2001 at 15:06:09:

I have owned as many as 400 rentals. Good property management is as rare as hen’s teeth. I have always managed my own or had direct employees. Most of the guru’s I have heard say hire it out. Never worked for me.

Re: rental properties & hired management - Posted by Ben (FL)

Posted by Ben (FL) on February 12, 2001 at 16:57:04:

If your properties are in decent shape, and you have a good, trustworthy handyman, don’t bother with management company. Give the tenants the handyman’s name, and make sure the handyman calls you whenever he gets a call. That way, you can approve the repair before he goes over there. You can handle the showing, renting, evicting, either before or after work, or during your lunch hour, (if you have an d8-to-5) and on the weekends. The most time comsuming thing is the repairs, and with a good handyman, it’s a snap.
Check www.mrlandlord.com for other tips and advice, too.

Re: rental properties & hired management - Posted by Michael

Posted by Michael on February 12, 2001 at 15:38:59:

What problems did you encounter?