Taking over Moms property management business.

4 Replies

Other than "don't do it!!!" would anyone care to share your best advise and perhaps top pet peeves about property managers you have worked with while managing your investment properties. 

We are managing 18 properties for 10 different owners/investors. 

Thanks!

Paul 

Do you have to have a license in Texas?

Our biggest complaint with property managers has been lack of communication. If something is going on with the property or tenants, we would much rather hear about it sooner than later (or not be told at all). If an owner leaves you a message or emails you with a question, respond promptly (preferably within 24 hours). If you say you will get back to them within a certain amount of time, do it. 

The relationship has to be built on trust, and if you take days or weeks to get back with an owner on something, they are going to start questioning that trust. 

I agree, quick communication is what I expect from my property managers and it is very annoying when I don't get an answer that same day or the next at the latest.

Arlan,

Mom has the brokers license (over 35 yrs experience) and I will have my TX real estate salesperson license by the end of this month.

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