Are You Sure You Want To Be a Property Manager?

If you own rental properties, they will have to be managed. Before you decide to do your own Property Management make sure you know what you are getting yourself into.

Some things you will be responsible for are:

• Advertising your property when you have vacancies.
• Preparing the property to be shown
• Showing the property to prospective tenants
• Handling all calls from prospective and current tenants
• Arranging for repairs when needed
• Handling disputes between tenants
• Handling tenant complaints
• Dealing with and paying for damages caused by bad tenants
• Evicting bad tenants

Are you willing to take phone calls at any time of the day or night? What if someone’s toilet overflows and they call you? Do you have sales and marketing skills? You will have to convince any prospects to rent from you.

All of these activities take time. The more buildings you own, the more time it will take, and you will eventually run out of time. If you decide to do your own Property Management, make sure you allocate enough funds so you can hire someone else to replace you when the time comes.

Happy Investing,

Jim Pellerin

Investor, Advisor, Speaker, Coach, Writer

7 Steps to Real Estate Riches

The Realty Millionaire

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