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Hired a Property Manager
Just wanted to post that I hired a property manager for my four plex. I've been quite critical of Property Management companies, stating they are a waste of cash. We had experienced high cost on turnovers in both PM companies we had. But over time, I started to notice things about the PM companies that were ingenious. First was the PM company I had in Albert Lea only switched out deadbolts on turnover. Small matter, sure, but really smart. Why put the turning knob through the added wear and tear? I also missed our PM in the Twin Cities as my leases started to get dated, and I missed having the team readily available. With a good PM with references, I have a property manager, a leasing company, an accountant, a maintenance manager, a lawyer, and the best thing is, they are a team and coordinate themselves.
I'm enjoying life more, and budgeting for expenses from my PM. Setting aside a larger monthly amount that may or may not be spent, but planning for it. I think it is going to go better this time around. And now I can finally add another four plex, Lord willing.