Hired a Property Manager

[David Moore]

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.

[Ashley Kehr]

Thanks for sharing David. I currently self-manage but in the future would like to have a property manager. When my kids get a little older I want to be more passive in my business. Good luck on finding your next fourplex!