KGC Properties LLC ~ Property Management & Real Estate In Tucson!

head_left_image

When It's Good - It's Peachy. When It's Bad That's When They Want To Hire Someone.

Call it the cycle of renting a home.  Many people end up becoming landlords because they do not want to pay someone to do it.  It might take some time, and almost anyone can rent their home out. Right?! And things are peachy great - rents coming in, tenants never call with problems, it's so easy!

And what most of these happy go lucky landlords don't expect is the inevitable - problems.  And it is a cycle - problems will come up at some point - whether those great tenants suddenly go bad, or a major repair is needed or you start getting notices or complaints.  And it is not IF it happens - it is WHEN that most people aren't prepared for.

And when things start going real bad, suddenly DIY landlords start dialing for a property manager to take over.  The question is - will a property manager take on your problem?  Some might, most won't. 

There are many reasons why a property manager will not take on your problem -here are my top three:

  1. It will cost money to fix the problem - and it's probably money you don't want to spend.
  2. Property management is a long term relationship.  The risk is high that if you managed your own property and it failed, you are likely to let a property manager fix everything, and then back out of the contract.  Although it costs to back out of a contract, many DIY think it's cheaper to eventually dump a property manager than to keep them on - and we know that.
  3. Many property managers simply do not want to get involved with a bad problem - it's likely that what a DIY landlord in trouble says, is probably just scratching the surface and they aren't telling the whole story.

When you hire a property manager, you need to be committed from the get go, find a good one and remember, hiring one from the start is usually a lot cheaper than digging yourself out of the bad when the happy peachy cycle of being a landlord hits bottom.

Buying or selling Tucson real estate, Mt Lemmon, Tucson bank-owned homes, Tucson rental homes, or Tucson lease option homes? Visit www.KGCPropertiesLLC.com .

                                                 

 

This blog is written with my opinions and my opinions are  presented with accuracy but not guarantees. Please talk to a professional before making any real estate, financial or agency decisions.    Gabrielle Kamahele Rhind - 2014. If you want to reprint parts of this - just email me for my permission: KGCProperties@gmail.com .

 

Comment balloon 5 commentsGabrielle Kamahele Rhind • July 06 2013 05:05PM

Comments

Gabrielle

So true . . . . I enjoyed reading the post.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 5 years ago

You are so right about the many suggestions as to why we do what we do. I find that they also blame us for the behavior of the tenants.

Posted by Charles Stallions, 800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl. (Charles Stallions Real Estate Services ) about 5 years ago

Yep!  Don't expect some one else to bail you out of problems (at least without paying for it).

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 5 years ago

Hi Gab.... great post.... I wish I had hired a property manager to handle my properties decades ago.... what an intense job...and I'm sure I broke many laws during those days of managing a few derelicts....

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) about 5 years ago

I just took over a 9 property portfolio with seven vacancies. I have all his properties filled at this time within two weeks. Now, he is listening to me because we have to make all units rent ready by July 15th. I will only do it with my crews because I know their skill level. Bottom line! He agreed. He said just get it done. Great post today

Posted by Harry F. D'Elia, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (Real Estate and Beyond, LLC) about 5 years ago

This blog does not allow anonymous comments