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As CONSUMERS We Buy in BULK * As PROPERTY MANAGERS We Can NEGOTIATE in BULK!

By
Property Manager with Gibson Management Group, Ltd.

I chuckle everytime I read DYI landlords say that it costs MORE to use a property manager.  This is not REALISTIC or TRUE.....DYI landlords who do their own maintenance or use YELLOW PAGE/Google vendor selection REALLY pay more $$$ for their repair costs in the long run.

As a property manager with 100 properties within a 25 minute drive from most vendor's offices, I can negotiate MUCH BETTER prices for services for my properties

♥  My HVAC service charges the same rate for their Spring/Fall HVAC service as they did 5 years ago * no FUEL up charge, etc.  AND they change the smoke alarm batteries at the same time for $5 AND they provide residents with additional filters * I GIVE THEM SO MUCH BUSINESS

♥  My Yard Service firm provides routine service for several larger properties which is included in the residents' rent AND they will do additional services as needed * mulching in the Spring and leaf removal in the Fall.  If residents need mowing during vacations, my yard service will perform this work for residents AT A REDUCED RATE.

♥  My Plumber is AWESOME!  I can e-mail him a repair request with my tenant's contact # and he will e-mail me an electronic invoice for the completed work within 24 to 48 hours.  My residents' repair requests get his PRIORITY!


Having started 2 property management businesses from SCRATCH, getting responsible and RESPONSIVE vendors and service people is the HARDEST part of the job.....getting client/property owners and getting residents is the EASY part

I NEVER stop asking for referrals for good service people.  I have gotten service people from owners, other property managers,  friends and relatives.....

If they APPRECIATE the work I provide them, respect my residents and give my owners good prices * I am their DESIGNATED Property Manager!!!

Posted by

Wallace S. Gibson is a Certified Property Manager with over 50 years of property management experience and expertise.  She maintains a specialized property management business in Central Virginia serving Albemarle, Greene, Fluvanna and Louisa counties  

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

Comments(9)

Virginia Gardner
Roy Wheeler Realty Co. - Charlottesville, VA
Realtor, Charlottesville, Serving Central Virginia

Bravo, Wallace, this is a really good post.  I understand that some investors want the whole kit and kaboodle to be their job, i.e. buy and then manage.  I guess that's okay, but most of them are very handy, and they like the work.  BUT it costs them money, that is, along as they value their time!  I know some distance owners who are just two hours away, who try to manage their vacant home themselevs.  It doesn't work well at all.  Good news for me, they'll more likely be calling to put the house on the market this spring! lol  p.s. they did get your name :-)

Jan 17, 2011 11:24 PM
Laura S. Baker
First Weber Inc - Lake Mills, WI
Realtor (920) 728-4118, First Weber Inc

Wallace, you are amazing!  I love the buying of houses and rentals and fixing them up, not the managing.  Right now is the best time for me to buy, fix, put renters in, then flip later.  But I am tired of dealing with the "RENTER" issues.  I am seriously considering using a property management company for that part.  Do you have any posts about what to look for in a property management company?   

Jan 17, 2011 11:36 PM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Laura * YES * some GREAT posts in the AR property management group from professional PMs all over the counrty!

Jan 17, 2011 11:57 PM
Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales

Great post Wallace.  There is also the fact that the people we use to do work in our rental properties are well known to us and we know we can trust them.

Jan 18, 2011 01:26 AM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Wallace, 

This is a fabulous post that I am off to re-blog.  Having a strong vendor pool is critical and makes a property manager more successful.  

Most of my vendors answer immediately when I call, as we have developed a good business for them, in many cases I hear we are their best customer!  

Even this morning a neighbor called to ask my preferred plumbers... another blog post coming soon.

All the best, Michelle

Jan 18, 2011 02:21 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Thank you for the Reblog Michelle * I've worked VERY HARD to build up a good service/vendor data base....trial and error and knowing the scope of the work that needs to be performed is IMPERATIVE!!!

Jan 18, 2011 02:45 AM
Scott Hayes
(512) 786-8300 - Austin, TX
Realty Austin, Broker Associate

Wallace,

Why do I think I'm going to really enjoy posting to te property management group and you so much this year.

Great points/post, that those of us who do property management, can cite, when speaking to prospective owners.

Jan 18, 2011 05:00 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Welcome. welcome, Scott!  Please share your experiences with us!  We've all been there and some of us have had to learn the hard way! 

Jan 18, 2011 05:17 AM
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Great post Wallace! You are another expert who loves to share her information! Thanks!

Jan 20, 2011 01:14 AM