Chris Thorman, who blogs about programs for property managers, recently sent me an article about What to Consider When Hiring a Property Management Company.Chris touched upon both self-management of property and outsourcing the management of your property. Here's a preview:
Deciding when to outsource and which company to hire is one of the most important business decisions a property owner can make. Choose wisely, and an owner will be rewarded with the peace of mind that comes with responsible property management. Choose incorrectly, and an owner will be working harder after hiring a property management company.
Whether an owner has one or one hundred properties, it’s important to consider whether or not they’re prepared to hire a property management company. Handing over the management of property is a major decision. Before making that choice, owners will want to make sure they understand the following:
• The implications of self-owned management;
• The pros of outsourcing management to a third party;
• The corresponding cons; and,
• The alternatives to outsourcing.
You can read all of Chris' article at his blog.
4 comments:
Thanks for the great real estate blog. this is a very interesting topic
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The article presents very valid pros and cons for acquiring property managers or self managing.
I've been on both sides of the issue and it's a decision that shouldn't be taken lightly.
Thanks for the great advice Chris!
Thanks,dude..your blogs is very useful to a student like me..LoL. =)
I'm taking the same course as you were. Real estate management.
This blog could be a great help.^^
Best regards,
-Antily-
Learning the industry through and out is a terrific approach to make sure you hire the best rental management services for your building or buildings. Then, you'll be fully aware of both the necessary actions and the correct procedures. By doing so, you can determine whether the rental management firm you hire is performing its duties effectively. You'll also be able to identify any problems before they balloon into major concerns. You will learn a lot from managing your property, even for a short period of time.
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