Hi BP'ers,
I have been working in Human resources for a while (recruiter) and I have been reading on BP because I have a couple of rental properties (2 SFR, 1 Duplex). For some time now I had been struggling to figure out a new career direction, when it hit me, I want to start a property mgt. company! I was a property manager many years ago for a firm in Boston managing high end condos as well as student apts., so I have some experience in the buz. I love real estate and am aware of al the headaches but yet am still really excited by this proposition, it s been a while since I felt this passionate about working.
I will likely partner with/hire a licenced broker as it is a requirement here in NC. What I would like to know from the BP community is this - What is it that you want from a property management company that you aren't seeing? What issues do you see with most companies? Essentially, how can I set myself apart from the others.
In my area the clients I will target will likely have SFR's as well as some multifamily dup/tri/quads. I would of course be open to apartment complexes but I am not betting on that happening right away. More likely investors with a few properties up to 30ish units.
Of course it has to be realistic with respect to the costs, I can't offer White glove service at 5% and no lease-up fees. With the understanding that you have accepted you will pay somewhere between 6% - 10% in monthly fees plus some additional for leasing, what is it that is typically lacking from your current or past property management companies?
Thank you in advance!
