Property Management 101
Property Management , ,

Property Management 101

When you purchase an investment property to rent out to tenants, you have a choice to make — hire a property manager or manage the property yourself. Property managers aren’t cheap, so at first, this might seem like an easy choice, especially to inexperienced real estate investors. However, it’s important to know just how much value a property manager can bring to the table before deciding which way to go. How much does an investment property management company cost? Just like other service-based businesses, the fees charged by property managers vary tremendously. Having said that, 10% of collected rent seems…
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Hey Rusty, Give Me an Example of What You Do!!
Property Management ,

Hey Rusty, Give Me an Example of What You Do!!

As landlords and property managers, we often focus so much on choosing the well-paying tenant, we forget that there are other tenant characteristics that can make managing properties a nightmare. Here are three of my worst tenant archetypes: their modus operandi, how to spot them in tenant screening, and how to handle them if they manage to slip through your screening process. Nightmare Tenant 1: The Excuse-Maker When it came to paying rent, I’ve heard everything from “My sister’s best friend’s mother passed away” to “I ran out of checks” (the tenant equivalent of “My dog ate my homework”). In…
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