Updated almost 6 years ago on . Most recent reply
Hiring a private Property manager
We have 10 units currently ran by our PM since we work away. We will be going to 26 units shortly. Does anyone have a form or tips they would care to share that they have in the PM contract? As we continue to grow I want to be sure we are being smart. Our PM has never given us any doubt and can account for every penny spent. So I don’t have issues with her at all and hope we can keep her with us but I also want to protect us.
Anyone else have a personal PM not a professional company, what or how are you all paying?
Thank you
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- Real Estate Broker
- Cody, WY
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@Beth Matherne I manage 350 units and don't have a problem communicating with owners.
Maybe yours is great. Maybe she's just been lucky with the first ten. I see this happen with new investors all the time where they make rookie mistakes but things still work out pretty well and they escape disaster. That all changes when something seriously goes south and they realize they have no idea how to handle it.
You're going to increase her workload another 150%. I would expect some problems to arise that she may not be suited to handle while working a full-time job somewhere else. It's at least worth exploring a professional property management company.
- Nathan Gesner
