If you are a Realtor, you can be a property manager, legally. So does being a Realtor qualify you as knowing the business. What does property management and Real Estate have to do with one another?
Doesn't it seem almost rediculous to think that being a licensed real estate agent is the criteria for being a licensed property manager? That's what happens! So you have real estate agents that are slow, hungry and use the time to try and offset some income loss by trying to manage a few homes. Sounds reasonable right? You are mistaken to think that you download some marking software, put a tile out saying you are now in the property management business and then expect to do a good job or even a half way decent job. Its just not as easy as you would think.
Ask before you hire your next property manager some of the following questions:
How long have you been managing properties?
How many properties are you currently managing?
How many full time employees do you have working in property management?
How do yow market your properties for rent?
Do you personally show the properties or do you send someone to the property with a key or lock box code?
What is your tenant screening process?
How do you deal non paying or late paying tenants?
Tell me about your inspections? Move in, out and in between?
What about repairs?
This is only a small sampling of questions that should be asked. If you don't get some good solid answers, keep going.
This is a highly specialized business. It doesn't leave a lot of room for mistakes. There are so many aspects that needs to be right that a lot of expertise in a lot of areas is critical to the success of an investor.
We pride ourselves as professionals at property management. But please don't take my word for it. Learn more about AAA Realty LLC and our property management business by going to WWW.aaarealtyllc.com
Until next time,
Tammy Rodriguez
Broker/owner
AAA Realty LLC
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