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Updated almost 10 years ago on . Most recent reply

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Steve Rozenberg
  • Specialist
  • Houston, TX
1,069
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1,252
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Do You Know What A Property Management Company Does?

Steve Rozenberg
  • Specialist
  • Houston, TX
Posted

What Does A Property Management Company Do Anyway?

  • Steve Rozenberg
  • Most Popular Reply

    User Stats

    1,252
    Posts
    1,069
    Votes
    Steve Rozenberg
    • Specialist
    • Houston, TX
    1,069
    Votes |
    1,252
    Posts
    Steve Rozenberg
    • Specialist
    • Houston, TX
    Replied

    @Steve Vaughan

     interesting comment, while I can understand and appreciate your thoughts I can tell you that I am both a very active investor that owns both single family as well as apartment complexes over the past 14 years. Its funny because the reason I created my own company was because I could not find a company that I felt comfortable handing my portfolio over to, so I can see where you are coming from.

    However I would disagree with your other comments. I think that if you find the right partner that understands the mentality of an investor and what their goal is and make sure those are established in the begininig it can work fine. I manage over 450 homes, and am the highest rated company on google in all of Houston. So I do think you can do it correctly by having the right business model. The problem I see is that most investors do not treat their properties like a business. 

    They do not have a business plan, they don't have a working business model, there are no policies and procedures in place let alone written down. They have no idea what the Fair Housing Laws, Discrimination, Property Code, Security Deposit and Fair Credit Reporting Laws are either.

    To me collecting rent is simple, keeping you from getting sued and losing everything because of ignorance of the law and not knowing what your doing I feel is worth $4 - $5 per day for property management.If that is too much try standing in front of a judge with a fair housing violation and tell them you didn't know that was the law. I know because as an investor I have been there and it is not a fun feeling.

  • Steve Rozenberg
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