Property Manager Advice?

Discussion in 'Buying & Selling Real Estate' started by Kate, Apr 23, 2014.

  1. Jeff Butler

    Jeff Butler Guest

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    Is the property manager Invested?

    Selecting a property manager

    I am a investor myself and am starting a property investment and management company here in Niagara, Ontario, Canada. From my perspective the answer to your question, is in fact a question....and that is...Are you adequately compensating the property manager for his/her time? Like anything in life, especially business, you get what you pay for. If rates seem reasonable and fair, and the work is being completed in the short term to your satisfaction you are very likely in an agreeable business relationship with your property manager. If either the rate you are paying seems unreasonably low, and /or service is poor at any point, find someone new. Most of all don't get tied into contracts that are long term and not performance based.

    In Niagara Canada I can be found on Twitter @InvestHomes4u and on email at [email protected]

    Thank you,
    Jeff Butler
    B.Comm, CHI
     
  2. Jeff Butler

    Jeff Butler Guest

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    Is the property manager Invested?

     
  3. Strykstar

    Strykstar Well-Known Member

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    That's always the risk when hiring new people, you never know how well they are going to perform in their job.
    Maybe offer them a contract with a trial period in which you can fire them without compensation?
     
  4. Peninha

    Peninha Senior Investor

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    Depending on what the market is offering a trial period is always good, I think that's in general law. If the guy is good he will have no problem proving it. ;)
     
  5. lovemwaf

    lovemwaf Member

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    One thing that really comes to mind right now is that maybe you'd be able to inquire from the property manager that you have on your first property to direct you to somebody who they think is good and reliable and of the same caliber as them to manage the property. Generally what happens is people were in the same field will tend to know other people are just as good as them. So instead of you looking for specific character traits your original property manager will know the traits very well and will be able to link you up with somebody to manage that.
     
  6. Gelsemium

    Gelsemium Senior Investor

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    If we have a lot of properties a manager can really help us, or even several ones, but we have few properties eventually we can do that ourselves, they are our properties after all right.
     
  7. shilpa123

    shilpa123 Banned

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    Property manager can be a great guide when they are knowing quite a lot about the place and can help you decide on the right place. I believe that I is best to try and find the best property manager out there.
     
  8. shilpa123

    shilpa123 Banned

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    Property manager can be greatly useful when you really have something to get advice for. It I best if we do not usually hire a property manager.
     
  9. shilpa123

    shilpa123 Banned

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    I do believe that property advisor can be quite useful in many ways. I think it can be totally great in every possible manner. I hope to use one soon.
     
  10. dianethare

    dianethare Senior Investor

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    @Kate...maybe after having an 'almost perfect' property manager, i'd like almost the same/near to/similar qualities of the current property manager to the newcomer, hence those are the qualities i'd be looking for, only this time i'd be posing them in question form to know whether prospective property managers have these qualities..just $0.02.
     

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