All Forum Posts by: Edward Lamson

Turning prospects’ interest into property visits.The way in which you show your rental property to prospects is important.
Avoid walking from room to room stating the obvious. Instead, point out certain benefits of your rental unit’s unique or special features. Just don’toversell the product and talk fast like a late-night TV used car salesman.Ultimately, the best technique for showing your rental property is letting the property show itself, The best result you can expect to achieve at the property-viewing stage is convincing the prospect to complete your rental application and put down a holding deposit. What the prospect can expect from you at this time is the receipt of any mandatory disclosures

It give you great leverage and maximization that can focus your great strengths without interruption.Property managers provide client with a product known as shelter.In other words, as a property manager, you’re supplying tenants with a place to live in exchange for the payment of rent. Although property management doesn’t seem that complex, you can avoid the many mistakes unprepared property managers make by knowing what you’re getting into. It can also give you leverage and maximization that can focus your great strengths without interruption.

My suggestion in Ideal Real Property Management and Repair Costs


Ideal Real Property Management Cost

Must have the absolute lowest rates; management fee structure must be simply put, untouchable.Charge a leasing commission equal to 84% of the first month's rent for an annual lease (7% of the gross lease). Almost every other company charges the entire first month! Additionally, management fees are only 10%.

Ideal Repair Costs

Should need repairs that vendor relationships typically provide the owners with a 20% - 25% repair cost savings. The property management must able to achieve these discounts due to the volume business they do with their vendors.

Hiring only a real estate sales agent to manage your property

Paying more than 7% of the Gross Lease as a leasing commission

Paying more than a 10% management fee

Signing a long-term, binding contract

Using stock, dated leases

Hiring managers who don't have the proper experience and education

Hiring companies that only do leasing and not management

Hiring companies that don't return your call in a timely manner

Reading then Hands-on because variation can come up, you enjoy the variety of tasks and challenges found in property management. Sure, some aspects of it are repetitious. Rent’s due every month after all. But for the most part, every day in property management is something new.There is also interaction with different people,if you’re a people person, you’ll findthat property management is a great opportunity to meet all types ofpeople. Not everyone you encounter will be someone you want to make your close friend, but you’ll certainly have the chance to work with a smorgasbord of personalities.Development of skills: Property management requires diverse skills,because you must handle so many different tasks (like marketing,screening, and maintenance, just to name a few). But it also allows youto grow those skills beyond the basics through patience and passion,like by moving from advertising your rental unit in a basic way to analyzing ad campaigns for unrelated products and applying those concepts to rental housing. Experience with real estate investment: As you manage rental property,you obtain the necessary skills to become a successful real estate investor. Of course, some real estate investors succeed without everbeing hands-on property managers because they hire others to handle the task for them. However, I believe every rental property owner should gain that real estate investment expertise by actively working as a property manager for several years.