What To Look For In a Property Manager

http://www.pmdave.com/index.php/what-to-look-for-in-a-property-manager-video/
3nd Interview with Marc Cunningham of Grace Management & Investment.

PmDave: What should I look for in a property manager?

Marc Cunningham: In this market you have to be careful because what we have seen in the past 12 months you see property management companies popping up all over the place. Because a lot of Realtors that find their business a little slow - Realtors that have done nothing but sales they have nothing to do, they are not making any money. So they are deciding to jump in to the property management business so suddenly their are a lot of property management companies to choice from.

Just like any other industry so are good and some are bad. So you look for longevity see that the property management company has been around a while. Make sure they are a company that specialize in property management and they company that just sells homes and doing a little bit to supplement by doing property management. You want some one that specialize in that.

Make sure they have enough inventory so they are not just depending on you Mr. Owner to make their income you don't want to be one of ten customers this person has because you need to have a bigger base than that, yet you don't want them so big that they are just rolling in to their system and you don't get the service that you think you need.

Someone that has been around awhile someone that knows what they are doing. I always tell owners, when you are talking to property management companies - think of your worst case scenario that could possible ever happen to you and ask them how they would deal with that. Because if the property manager has been around for a while and he knows what he is doing - they have seen it all they will pretty much have an answer for any question that will come up.

PmDave: What is a bad situation a furnace going out?

Marc Cunningham: A tenant saying I am not going to pay rent and I am not going to move. Come get me, come kick me out because I am not leaving. It is rare but it happens. People know how to deal with that I get calls from other property management companies asking what they should do. "How are we going to get this guy out, do we hire an attorney do I negotiate do I make a rent concession." There is no real right or wrong to a lot of these questions.

A lot of it comes down to judgement and experience.

Category:

Education

Tags:

• property
• management
• pmdave

[propertymanagementt]

HELP....your volume doesn't work on this video.

[68buickwildcat]

If you have a tenant that does not have the rent when it's due, you give them a legal form, usually dwnloaded from your local tenant board web page, and this form is basically a formal way of demanding rent by a certain date -usually they get 14 days, from there you move on to start proceedings on the 15th day, costs a few bucks for the landlord and then from there the tenent board sends a letter with a court date, after which if they have to move and don't you get the sherriff to come down.

[morpheus1x]

1:45 Easy! Tell him you have someone who wants the apartment and offer him $500 to leave in 2 weeks. It works every time.