What Prop Management Does
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
What Prop Management Does (by Moshe [CA]) Dec 6, 2022 5:13 PM
       What Prop Management Does (by Robert J [CA]) Dec 6, 2022 5:39 PM
       What Prop Management Does (by Susan [OH]) Dec 6, 2022 5:48 PM
       What Prop Management Does (by 6x6 [TN]) Dec 6, 2022 8:14 PM
       What Prop Management Does (by RB [TN]) Dec 6, 2022 9:27 PM
       What Prop Management Does (by Moshe [CA]) Dec 6, 2022 11:27 PM
       What Prop Management Does (by Phil [OR]) Dec 9, 2022 12:21 PM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

What Prop Management Does (by Moshe [CA]) Posted on: Dec 6, 2022 5:13 PM
Message:

What do Good property managers do:

Well, here's a hint:

I'm on my 4th manager in 2 years, starting December 1.

Old manager #3 responded to e-mail from December 1 asking for return of all keys, today (December 6), that keys have been mailed.

New manager #4 sent an e-mail report on December 2, informing me that all rents had been collected on-time.

--47.139.xx.xxx




What Prop Management Does (by Robert J [CA]) Posted on: Dec 6, 2022 5:39 PM
Message:

That's great! But I would personally pick up the keys and before giving a receipt I would inventory them. All of my resident managers that only have keys to each unit, no master keys, have stamped on each key, "Do Not Duplicate".

When a manager has a master key, then when a tenant needs to borrow a key because the tenant locked themselves out, instead of the manager opening up their locked key box and finding the tenants key, they often hand them the master. And in seconds a copy could be made. I had this happen with a partnership property and many units got things stolen with no forced entry. I caught on the video camera a tenant opening up their door with the mangers master key.

You always do things top notice with a lot of thought, but I've been burned. As a contractor working with other landlords, since I have master keys to all buildings, when a issue occurs, I get reported. I have to convince the authorizes it wasn't me. As a locksmith I don't need a key in most cases-- locks can be defeated. --47.156.xx.xx




What Prop Management Does (by Susan [OH]) Posted on: Dec 6, 2022 5:48 PM
Message:

Moshe, did any of your PM's require you to sign a yearly contract with them? --76.189.xxx.xxx




What Prop Management Does (by 6x6 [TN]) Posted on: Dec 6, 2022 8:14 PM
Message:

You may have found a keeper.

What was wrong with the first 2?

I was also wondering about the yearly contract? --73.113.xxx.xxx




What Prop Management Does (by RB [TN]) Posted on: Dec 6, 2022 9:27 PM
Message:

Two or three properties ? --24.183.xxx.xxx




What Prop Management Does (by Moshe [CA]) Posted on: Dec 6, 2022 11:27 PM
Message:

KEYS: Manager #2 has a guy who will make MEDICO keys marked DO NOT DUPLICATE for the pool for $7.50, wjile my locksmith charges $15. #2 can get all the keys he wants from his guy whether I pick them up, get receipts, etc. #2 isn't dishonest, but he wasn't satisfactory either. But in this matter, he was LATE.

Next-day rent report is a good sign from Manager #4, I hope for more good signs, maybe some serious ones.

--47.139.xx.xxx




What Prop Management Does (by Phil [OR]) Posted on: Dec 9, 2022 12:21 PM
Message:

I have one duplex that I hire a PM for. It's a 3 hour drive... First PM was the largest in the area. Went bad right away...he didn't know the law pertaining to CO alarms...had his own maintenance company that he fed everything to. Got charged $75 for changing a light bulb...$75 to remove a fork from the disposal... Passed up on a couple of really great deals on other duplex because the charges but cash flow negative... lost out on about a million dollars of equity gain. New PM is fantastic. Would have bought more if I had her from the start. --76.138.xxx.xxx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: What Prop Management Does
Your Name:
Your State:

Message:
What Prop Management Does
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: