All Forum Posts by: Phil Earley

I'd start off with a calm phone call to discuss termination of the agreement because of the current situation.   If they don't pick up, go to the calm email next.      

I would imagine there is a clause in the management agreement that allows each party to terminate the other for specific reasons so quote that if needed.   

A mutual termination will be quicker and easier for both parties.  

On a side note, if a company has to mail your disbursement check, they may not have systems to handle anything well:)   

Once I found out the average bank robber will risk it all for $300 on average, check or direct deposit is the only option.   It won't take long for someone to know you have a couple of thousand in your pocket the first of every month as you're jumping back in your car.

1) Your Keller Williams Broker can be the principle broker for your company or you can do it under the KW umbrella and help open it for them.    My company started in a closet at KW so it can be done.   The sales world and rental world don't always speak the same language so having a remote office in my opinion works best.  

2)Unlicensed people can perform administerial duties for licensed people whether its in sales or property management.  Your state real estate commission should have a list of allowable duties.  Double check with your broker also.  I know KW has a list to help build your business.

3)Any business can be as profitable as you make it.   The consistency of Property Management will open up lots of doors for you. 

Good Luck!

Free always has a price.  

You need to complete the entire process for the right answer.  

It could be a problem with the management team or a problem with the landlord. 

I came across this guide a couple of years ago put out by Fannie Mae. 

Becoming a Landlord

It's an easy read with lots of great information to help all of us in the industry.   It will help him decide what strategy is best for him.

Georgia and Florida have what is called reciprocity for licensing.   The forms and criteria can be found on the GREC website.   Pretty straight forward and easily accomplished.  

Good Luck!

Rental income are trust funds and not something to mishandle.   A quick phone call letting them know that the Michigan Real Estate Commission will be your next point of contact will close this out for you very quickly. 

Maybe offer a weekly time where you will open up the property for 1 or 2 hours for a fee.   He can schedule all of his showings around the predetermined time.  

It sounds like you can conduct quarterly property visits during the course of the lease also to help him.  Sounds like a good business venture.  

Check out narpm.org   National Association of Residential Property Managers.  You can search by zip I believe.    Once you get it narrowed down to 2-3 companies, take the time to visit the offices.    Its a great way to gauge the professionalism and quality of who they are.  

I'm not sure who I'm quoting but this line has stuck with me for years.

"The bitterness of poor quality remains long after the sweetness of low price is forgotten."