being charged to my property and asking a lot of questions, I’m not the landlord who is getting ripped off. We always hope to be working with professionals that have strong ethics, but sometimes we don’t know who they are (or in this case, who they are NOT) until they do something that makes us take a step back and question whether they’re trying to overcharge us. Overcharging landlords is very easy to do when landlords treat their investment properties passively and aren’t paying attention to the reports and asking questions.
If a PM has 50 landlords they’re working for and there are 15 of those landlords who are paying close attention to their expenses, those will be the 15 landlords that aren’t getting a bunch of extra charges, effectively stripping down their cash flow. If someone is going to be shady, it’s a lot easier for them to get away with it with the other 35 landlords who aren’t paying close attention. Managing your manager isn’t just about catching “overcharges;” it’s also about building that relationship to help you maximize both the cash flow and the value of your property. By actively
communicating with your PM, watching your reports and paying attention to what’s happening in your investment markets, you’ll mitigate risk and maximize the value of your investments.
Stacy Conkey Founder "Multifamily Real Estate Investing" Facebook Group Click Here to Follow on FB
P A G E 7 4 |
Powered by FlippingBook