Originally posted by Bryan Hancock:
The property management business is very tough. You have to deal with all of the crap that investors don't want to deal with, owners angry about stuff breaking, tenants paying late, evictions, placing tenants, etc. That is a lot of crap to put up with for 7-10% of gross rents.
Having said that...I have had almost universally poor experiences with property managers. They just don't care for your property like you would and they are really more concerned about THEIR business instead of yours.
I have had the same experiences. Having said that, I would rather gouge out my own eyes than take that soul crushing job. Tenants lie more easily than they tell the truth. My family has a hundred or so doors, and around the 6th of the month, we have dying parents, sick children and lost jobs like clockwork. How many people can have more than three or four parents?
The only advice I would have about property managers is to get them young, before the nature of the job has had time to rob them of their integrity! :lol:
