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Ep008: What To Expect From Your Property Manager Part 1 Get Clear On What You Want From This Relationship
- 2024/04/16
- 再生時間： 41 分
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Ep008: What To Expect From Your Property Manager Part 1 Get Clear On What You Want From This Relationship
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あらすじ・解説
This is the first of our 12-part series called What To Expect From Your Property Manager. Whether you are your property manager, you are already in a property management relationship, or you are thinking about hiring a property manager, this series help you set expectations for performance that can only positively impact your profitability over time. Chris and Laci kick off this series with a discussion about getting clear in your mind about what you want in a property management relationship. Specifically, we cover the many hats a property manager wears in the course of a month, being able to articulate your reasons for investing in real estate in the first place, managing property remotely, the value of your time as a scarce resource, and the hidden and not so hidden costs of going it alone. As an extra bonus we are going to be joined for this series by Gretchen Mitchell, Director of Property Management for ROOST Real Estate Co. I guarantee you will find tips tricks habit and mindsets you can you to make your real estate investments work for you – and not the other way around. SHOW HIGHLIGHTS We kick off our "What to Expect from Your Property Manager" series, highlighting the importance of defining your expectations for a property management relationship to positively impact your profitability.Laci LeBlanc and Gretchen Mitchell join the conversation, emphasizing the value of time as a scarce resource and the significance of setting performance expectations for property management.The recent legislative victory with the Springfield Ohio Landlord Registration and Licensing Ordinance is celebrated, noting the removal of the self-inspection requirement as a benefit for property owners and tenants.We delve into the concept of becoming an accidental landlord, sharing my personal story of turning a bank-owned property into a profitable rental and the strategic benefits of making extra mortgage payments.The discussion touches on the necessity of treating real estate investment as a legitimate business and learning from past mistakes to ensure success and compliance with fair housing laws.We explore the emotional toll and time commitment of real estate investment, particularly for accidental landlords who depend heavily on rental income, and seasoned landlords with a financial buffer.Anecdotes are shared to illustrate the challenges property managers face, such as unexpected maintenance and tenant turnover, underscoring the importance of proactive management.We stress the financial and stress-related advantages of hiring a property manager to mitigate the unforeseen complexities and protect against the unpredictables of the real estate world.In discussing property management partnerships, we reflect on the importance of readiness and finding the right fit for a long-term, collaborative relationship with a property manager.We conclude by affirming that a property management partnership is about more than offloading responsibilities; it's about creating a path to real estate success and achieving financial goals. LINKS Show Notes Be a guest on the Landlord Profitability Playbook Podcast Download your FREE copy of The Landlord Profitability Playbook and learn how to automate your property management. Visit ROOST Property Management and find out more about the ways we can help you create a more profitable portfolio. Visit Rental Property Registration to access the registration page and self-inspection form. TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Intro Welcome to the Landlord Profitability Playbook Podcast, where we share the best practices we use to help our residential real estate investor clients automate their rent collection and get on with their lives. Check out the show notes at wwwlandlordprofitabilityplaybookpodcastcom. This show is brought to you by Roost Real Estate Co Property Management. To learn more about our company and the services we provide, visit wwwmanagewithroostcom. Now here's your host, chris McAllister. Chris: Hello Chris McAllister, here with the Landlord Profitability Playbook Podcast, where it's my job to create and coach business opportunities and strategies that support and add value to the lives of residential real estate investors. I am not only joined today by my good friend and podcast partner, Laci LeBlanc Good morning Laci Good morning Chris but also by our Director of Property Management at Roost Real Estate Company, Gretchen Mitchell. Hello, Gretchen Mitchell. Gretchen: Hello. Chris: This is our first in a 12-part series called what to Expect from your Property Manager. So, whether you are your own property manager or you are already in a property management relationship, or you're thinking about hiring a property manager, this series will help you set expectations for performance that can only positively impact your profitability over time. So we're going to kick this off with the discussion about getting clear in ...