When your at the point of hiring a property manager to run your apartment complex, what things do they typically NOT DO? In other words, what things would i still be required to do to keep my investment running smoothly? I cant imagine property managers do EVERYTHING for an investor so they can sit back and collect paychecks each month...or am i wrong? lol
I would say the issues isn't what they "won't do" but what you need to do to keep it running as you wish. I always put it this way, no one care as much about the properties success as you do! Therefore while I self manage and do it all myself, I know a lot if people follow up and check in regularly to make sure that it's down correctly! Remember at that end it's your head on the chopping block
I think property management is like having a pet. Strict training in the beginning and then reinforcement of training from then on. As soon as they start running it "their" way they will keep doing it.
@Ryan McElroy PMs don't exercise leadership. They aren't thinking about how you should reposition your rental or better your long term brand. They aren't networking within the community for your benefit or looking out for the neighbors that surround your investment.
The aren't looking for new profit centers that might be appropriate, or proactively building a wait list.
I would hire one on the spot if they did.
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