If you are doing long term rentals and raising rents, you will have turnover of a significant number of tenants after their year of renting when you raise their rent.

Once you walk a property, you often have to throw your original underwriting out the window.

When it dies I won't replace it with an ice maker but they were over the moon to get the rental and this is the second set of tenants that said we don't care about the ice maker.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Often don't have to be licensed, but ask.If you are serious about all this, recommend getting your RE license AND pursuing NARPM courses.

Be sure to ask how, and how many of these a year do they do, how often, what listings do they have right now that you can look at, etc etc.. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

When you own a couple of units, the odds of there being unexpected vacancies that overlap each other are usually low, but when you acquire more and more real estate, the odds of tenants moving out around similar times increases. 

Managing tenants yourself is no small task, but I’d say it’s often a blessing in disguise.

The 2nd group can often be spotted via the credit report, and they are a lot less fun to host (late payments, asking for concessions, demanding, etc.)