Durham, NC · Member since 2016 · 80 posts · 14 votes
Hey BP!
I am a current leasing agent located in Durham,NC. I am thinking of starting my own property management company. I would be the only person managing until I build up a great team.
My question is: How do property managers deal with managing properties by themselves?
For example: when a tenant calls in a maintenance issue, would I be the one to go fix the problem? Or would I have the owner decide?
I understand getting a system set up and I would be interested in Buildium software.
I understand collecting rental payments and screening tenants. Knowing fair housing laws in my state and advertising.
I am just curious since I would be starting out as a portfolio structure company (one woman show) how would I handle maintenance requests?
Thank you !
My wife @Rebecca Lebowitz manages over 140 properties by herself. The secret is your power team. You need a good lawyer, a good accountant, a good maintenance crew, and the most important, a good piece of software!
Maintenance requests should be funneled through your software and then given to your crew. You drive over and make sure the work is done to your satisfaction.
Kim Meredith Hampton thank you for looking into that Kim! I'll look into real Estate schools here in Durham NC and get started there ! Thank you again for your input this really was helpful
Myself and my partner managed up to 200 before taking on staff. We took that to 800 and then sold to where there are 1500. It is all about systems and having a home for every single moving part.
The required work would heavily depend on the age and quality of the property, as well as quality of tenants. Theoretically you could have 30 properties and handle them with a few hours a week or 40+ hours a week depending on issues. On the average, to self-manage 30 units you'd either have to have a good contractor and handyman, and then possibly a lawyer and accountant. Or, not have a separate job and do it all yourself.