Rental Property Investor · West End, NC · Member since 2016 · 98 posts · 32 votes
I know this is an old topic, but I would like to revisit it as I'm now listing two rental homes that I own and manage myself. So this question is for landlords who also manage their own property(ies). Do you prefer to represent as the Owner/landlord, or as a property manager representing the owner? I've heard of many who like to represent as the prop manager to have possibly a less emotional relationship with the tenant. I used to represent as the owner/landlord and at times I really wished I could just be the prop manager when communicating with tenants. Fast forward to now I am listing for rent two properties that I purchased recently. I have been presenting myself as the manager, and I have an LLC set up with that company's name (not sure if that is any good, but I'm learning a ton and trying things out as I go...). Another question on my mind is when I get to drafting a lease, which I'm doing today, can I sign as the property manager/agent? I've always signed as owner in the past. Any other legalities I might not be thinking of on this topic?
Augusta, GA · Member since 2014 · 1k+ posts · 1k+ votes
10y
I usually tell folks (when asked) I'm the owner but I did get a chuckle once when I was cutting the grass at a property for rent and someone pulled into the driveway after seeing the For Rent sign. He got out of the car and started evaluating the house from the outside and I just kept on cutting the grass. He asked me if I knew how much it was renting for and I "guessed" at what I thought I heard the rent was. His comment was that he was pretty good at negotiating things and he felt he could "talk" the owner down on the rent a couple of hundred dollars. I said I didn't know about that; it was a pretty big house (five bedrooms, two bathrooms) but good luck if he could do it.
Rental Property Investor · DFW, TX · Member since 2014 · 117 posts · 29 votes
10y
I have always been representing myself as a PM although I do own the properties. This allows me to get extra time when comes to sensitive questions so I could think over w/ my clear mind without being emotional at spot. Regards lease signing, I have always been signing it without additional notation. I am interested like you how others do with this situation.
Reno, NV · Member since 2016 · 328 posts · 97 votes
10y
Owner. However, I do understand the extra cushion as self-representing as as the PM too. I have a small number of tenants and it's been working for me.
Investor · Portland, OR · Member since 2014 · 26 posts · 11 votes
10y
I have tried to pretend to be "just the manager" and not the owner, but I am a terrible liar. As my wife and I own the properties together, I just say my wife is in charge, and she says the same thing about me, that buys us time.
Augusta, GA · Member since 2014 · 1k+ posts · 1k+ votes
10y
I usually tell folks (when asked) I'm the owner but I did get a chuckle once when I was cutting the grass at a property for rent and someone pulled into the driveway after seeing the For Rent sign. He got out of the car and started evaluating the house from the outside and I just kept on cutting the grass. He asked me if I knew how much it was renting for and I "guessed" at what I thought I heard the rent was. His comment was that he was pretty good at negotiating things and he felt he could "talk" the owner down on the rent a couple of hundred dollars. I said I didn't know about that; it was a pretty big house (five bedrooms, two bathrooms) but good luck if he could do it.
Specialist · Lakewood, CO · Member since 2014 · 1k+ posts · 1k+ votes
10y
@Kirsten Ostby I represent myself as the owner. In the crazy rental market Denver has right now I can see relief and happiness show up on their faces because they just met someone who cares about the property. I've had many great comments about the same.
The reason to represent as a PM instead of manager is to draw a line between business (PM) and personal (owner). If you can set those boundaries on your own you stand to gain by being the owner. If you have troubles falling for sob stories or getting emotional about things then it is probably best to be PM.
I think both are valid methods, but I am a pretty straight-forward person and have no issues establishing and holding the lines.
Rental Property Investor · Golden, CO · Member since 2014 · 136 posts · 65 votes
10y
I'm the "owner", similar to Bryan. I convey that I'm quick to respond, but I also let them know that I expect certain things in return (rent on time, letting me know quickly about repairs, etc). I do think they appreciate that there's someone that cares about their interests.
After a few times of meeting with tenants, I had enough confidence in being able to control the outcome of my conversations with tenants. Besides, I'm with Joseph - I'm a bad liar. It's best to be up front and outline your expectations. Then you don't have to worry about the little things, like letting people nickle and dime your time with petty compaints. Stick to business.
Contractor · Atlanta, GA · Member since 2012 · 176 posts · 103 votes
10y
I use my own management company (separate LLC from landlord) to manage my properties, so I am the PM. I sign the lease as the PM. Rent is made out to the management company.
I just prefer to present a professional business appearance so they know they are dealing with a business and not somebody who works full time and manages his properties in his spare time. I also have an **AWESOME** assistant (who I met through BP) who takes all the resident calls, requests and proactively touches base with them, giving an even more professional appearance to the management company. And we take care of any maintenance requests ASAP, so they know they are being professionally managed.
Investor · Los Angeles, CA · Member since 2016 · 50 posts · 50 votes
10y
I know it depends on the individual but I'm staunchly in the owner camp for the same reasons as @Bryan O. and @Theresa W..
I'm a non-confrontational person who hates conflict but, since my policies are fair and logical, I have no problem representing them as my own. Tenants know that I sincerely care and am invested in the property but also that the buck stops with me.
I can understand wanting a little shield as you get started, however. Good luck!
I am the owner and I take ownership. I am not afraid of my tenants or my responsibilities and do not hide behind the PM hat. There are many reasons given for not informing your tenant of your true identity but it all boil down to the same thing.
Allentown, PA · Member since 2014 · 264 posts · 120 votes
10y
I always say that I am the owner. I also let them know that I love the building and care for it. I tell them that I take care of my building and they have to also, and that I stick to the letter of the lease. For a while I told people that my building (no matter which one) was "my kids college tuition", now that he is in high school I don't use that line.
I don't see how telling them you are a PM helps things.
Los Angeles, CA · Member since 2016 · 16 posts · 9 votes
10y
Be the manager that's managing for a relative, who lives out of state or an old friend you grew up with. Gives you the opportunity to be firm, but not look like the bad guy.
Contractor · Atlanta, GA · Member since 2012 · 176 posts · 103 votes
10y
I'm getting a kick out of a lot of these replies. Obviously each landlord needs to manage the tenant relationship in the way that is most comfortable to them. From the PM perspective, it has nothing to do with being afraid of tenants or not being the bad guy. It comes down to whether you want to have a business relationship with your tenants or a personal relationship.
My tenants don't know if I'm single, married, have any kids, anything about me personally. Why would they need to? The conversation never goes there. I want them to look at me like they do the utility company.
Software Developer · Vidor, TX · Member since 2015 · 922 posts · 639 votes
10y
If a tenant asks me if I'm married, I'll tell them yep. I'm not going to be like, "Whoa now, stop trying to get in my pants, Bill." If they ask me if I have any children, I'll tell them yep three boys (that's right, I'm awesome). If they ask me what I do for a living, I'll tell them I'm a full time Software Developer on the side lol. That's right, I'm a full time Software Developer and I buy/build/manage rentals, I want them to know how awesome I am. Hell, Trump would commend me for my stamina.
They don't know where I live and I don't socialize with them outside of rent pickup/repair.
The business-like professionalism comes from the actual management of the property, not the conversations, or lack thereof.
Investor · Los Angeles, CA · Member since 2015 · 45 posts · 27 votes
10y
You absolutely want to represent yourself as the PM. It provides more legitmacy to your operation and makes the tough conversations easier since you are simply the "messenger". I can't tell you how many times I have denied a tenant from being able to paint their walls pink because "the owner does not allow for that type of modification".
Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
10y
@Kirsten Ostby so others have covered the topic. I think one thing to consider in your approach is your tenant class. If you are renting to section 8 or people in a more working class area then the PM can really be a personal safety issue. The reason being in the lower end the owner becomes "the man" which means they can resent you. They resent you for the class you represent. If you are "just" the PM you are working are working for "the man" as well and they can relate to you. If you are renting to professionals then this is probably not so much of an issue.
You definitely need to figure out a way to buy yourself time to respond to their requests made in person. Plan that response and rehearse it. For example, mine is always shot me an email with that and I'll get back to you. If you are consistent then that also helps to create expectations and provide a buffer.
2) Owners are weak and need to hide behind the PM hat.
3) Owners are not perceived as being professional.
4) Owners are embarrassed to take ownership of their rules.
5) Owner are required to talk to their tenants about their personal life.
6) Owners are not legitimate business people.
7) I am not capable of enforcing my own rules.
My perception is that these are the comments of easy chair investors not landlords. There is nothing wrong with that. It's OK but you should at lease step up to the plate and admit you do not have the personality or skill set to be a landlord. If pretending to be someone else works for you then at least own that if you can not own the property. All the excuses in the world do not change reality.
Minneapolis, MN · Member since 2013 · 2k+ posts · 1k+ votes
10y
I take pride in my properties, I am the owner / manager I have smaller property so the buck stops with me. I worked at several larger property management companies, one the owner was vested, involved, and on site daily we knew we could depend on him and so the residents knew they were dealing with a manager that was owner backed. The other was huge property insulated, impersonal and slow to react to needs of managers and thus tenants waited.
Court wise I represented all of these properties in evictions and as long as my paperwork was filed properly and I had documentation, my cases were always favorable, as owner I filed quickly. As far as signing a lease I never was required to put "owner" after my name or "manager". If needed for representation at court, the companies had notarized papers I would bring along as a authorized person to represent the company, Power of Attorney for representing owner, or you fill out paperwork as owner when you file if your representing your own property.
Investor · Saint Louis, MO · Member since 2016 · 970 posts · 1k+ votes
10y
emotions go both ways. I say I'm the owner as well and when I introduce myself to my tenants they seem to like me cause I'm young and understanding so they usually take that into account and try not to bust up my places :P
Contractor · Atlanta, GA · Member since 2012 · 176 posts · 103 votes
10y
@Thomas S. your perception has nothing to do with reality. I run a business and treat it like a business. The main reason landlords fail is they don't treat it like a business. Stop trying to assign personal feelings to business decisions.
Flipper/Rehabber · Golden, CO · Member since 2013 · 590 posts · 319 votes
10y
When I own alone, I say owner. With a partner one of us is PM, other is behind the scenes. So in that case the partner is just a PM and he needs to consult with the "owner" when anything comes up. Works well for us.
Rental Property Investor · Phoenix AZ / Kendallville, IN · Member since 2016 · 293 posts · 149 votes
10y
Even though I have a PM who takes care of the daily issues at my properties, my PM took me around and I met the current tenants as was introduced as the property owner. Meeting a tenant I was able to put a face with the renter that my PM was talking about, plus the tenant was able to put a face with the owner of the property.
I realize some owners would rather not have any interaction with the renters and that is a personal choice. I do care about the living conditions of my tenants and I hope they see that I care. That being said, I'm hoping the renter will take better care of the unit knowing the property owner has a face and really does care.
"Stop trying to assign personal feelings to business decisions."
My point exactly. There is absolutely zero tolerance for personal feelings/emotions in making business decisions which translates directly to also managing a business. Those that hide behind the moniker of "PM" are obviously incapable of separating their emotions from the operation of their business. I personally do not suffer from the crippling disability of emotions. Sociopaths are far superior at consistently making correct business decisions and are known to be the most successful business people in the world. As a obvious example Trump is highly likely to be a sociopath. Obviously they do not advertise their business advantage.