Property Managers (PM) that do turn-key management have goals that are often opposite of an owner. This is especially true of inexperienced PMs. A PM makes money when they fill a unit. A PM makes money every month when rent is collected, sometimes even if it is not collected. A PM makes money when your place needs maintenance. A PM makes money on an eviction. A PM makes money when they turn the unit. A PM makes more money when they have to evict and turn a unit, than when they are renting it to a long term, good quality renter. A PM makes more on subpar renters, than solid ones. You make more money on a long term, good quality renter. Remember, great tenants manage themselves. It is cheaper to lower your rent, and get better tenants, than hire a PM. Continue reading “Property Managers, The Downside”
Landlording for maximum profitability and Financial Independence
