What A Property Managment Company Can Do For You.

My husband started a property management company a few years ago out of nothing

. We had to have a professional broker to even be able to have the property management rental company so he thought he'd chosen some honest, reliable people. He put all the money up front for all of the advertising, rental background checks, etc... He made this property management company very very successful.

He was very professional and found many rental houses and tenants to occupy each property very quickly. It was a lot of hard work for him and as a single person working with no other managers willing to help in anyway he pushed the property management company to the top. There came a point in his professional career as a property manager that he needed his brokers to help with the cost since he was using their name and building their repoir. It was a rookie mistake that he didn't get any property management contract with his 'professional', honest, managers (brokers). He went into their Sacramento property management office on several occasions asking for them to sign the contract and help cover the property management costs. They just kept making excuses on why they couldn't.

After 3 years we decided that the amount of money we were spending out of pocket for this property management company was not worth it. It was a thriving professional property rental business but we were not seeing any results since the managers (brokers) were taking the money and 'fame' while my husband was doing EVERYTHING! We had to get a lawyer and try to get our tens of thousands of dollars back that we put into this professional property management company, but to no avail. Since there wasn't a contract it was going to cost too much in legal fees to get the managers to budge on any property management reimbursement. What a learning experience that was for us.

My cousin bought into a property management company for $10,000 about the same time my husband started his property management company. It seemed like a lot of money up front but now his property management company is legit and thriving. He actually just bought into the same property management company in San Diego, so pretty close to Sacramento. He doesn't work much now that he has assistant managers to help him with all of his rental and professional needs. It's hard not to think 'what if' on many items, how many rental property 's would we have and how much more professional would we be?

Property management is a great business if you know how to do it right. We learned our lesson not to trust everyone you think you can. No matter how professional they may seem or how great of managers they act to be. A rental property management company is something to consider if you can't buy a house and are looking for a rental property.

by: Lindsay Steve

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