My Best Property Management Tip Is ...

[Michael Germinario]

Hi BP!

I thought it would be a cool idea if everyone shared their best tip for managing their rental property.  I'll start if off.

My best property management tip is charging a 5% late fee when a tenant fails to make the rent payment on time.

I look forward to all your tips!

Mike

[Steve Rozenberg]

I think the best thing you can do is make sure you treat your properties like a business with not only having policies and procedures in place  but followed. Remove yourself emotionally from your properties and treat it like someone hired you to make their business run profitable