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Updated over 5 years ago on . Most recent reply

User Stats

485
Posts
277
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David Moore
  • Investor
  • Crystal, MN
277
Votes |
485
Posts

Hired a Property Manager

David Moore
  • Investor
  • Crystal, MN
Posted

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.

Most Popular Reply

User Stats

178
Posts
136
Votes
Ashley Kehr
  • Rental Property Investor
  • Buffalo, NY
136
Votes |
178
Posts
Ashley Kehr
  • Rental Property Investor
  • Buffalo, NY
Replied

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!

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