Hello everyone. I am looking to start my own propertycompany here in my hometown in Nebraska, and I am currently in the "market research," phase of my business plan. I want to change the game in property management, and build a reliable, trustworthy, effective and affordable service to investors in my city. I hear all of the time on podcasts and from people I know in the industry, that they are unhappy with their property management or have had terrible experiences in the past. I am here to change that, but I would like to know:
What should I do differently?
Why are investors so unhappy with property management?
What do you wish your property manager would do that maybe they don't, or what do you wish they did better?
What are the things that you are happy with?
What do you look for in a property manager?
Any and all advice, input and/or stories would be GREATLY appreciated.
Hello @Jonathan Stastny
Wish you best of luck with your endeavor!
I self-manage my properties but I had experience with property management. I'm a little bit of a control freak and it ended up that I was managing management company. I think the reason is that they were not very transparent and they had too many "property managers" changed over a year. My tenants were complaining that they had to call and talk to a different person every time and explain whole situating from beginning over and over again. The company improved since but I took my properties back. Feel free to reach out to me if you have any specific questions.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.