Maintain and Manage you own Properties vs Management Company

[Joseph Tramonte]

I don't see management companies able or willing to do the small things that lead to bigger problems. ( Its been windy lately here in Minneapolis- here is a perfect example, The rental next to mine has a broken storm door and its just blowing open and then slamming shut for weeks now and no one cares. This is managed by a professional management company).

I see so many properties that are professionally managed (quote unquote) with deferred maintenance. The owners  are not driving by or live out state so they don't  have a clue about what is going on. This is just one of many examples I have seen throughout my tenure as a landlord Investor.

These issues turn into bigger issues, because tenants never notice these things and management companies don't drive by or walk the property. I'm in the camp, that if possible self managed is better.

[Kim Meredith Hampton]

@Joseph Tramonte Not ALL Property Management companies operate the same way. Speaking for ourselves, we actually have our homes professionally inspected before, during and after occupancy. This keep everything transparent, as well as letting the owner know what needs to be addressed/repaired. SOME owners choose to not repair, replace or even look at what needs to be done. I personally felt it was important (on my own ticket/expense) to get this done. Good to look at things with both hats (owner and manager), not all owners are as engaged or caring, or even have the funds to what is necessary to take care of their investment. If I have an owner that wont or cant repair or replace an item, I have them sign something that states that they know and are aware that this was their decision and they have been told.