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Why Do I Need A Property Manager?

By
Real Estate Broker/Owner with American West Realty and Management 12599

Why do I need a Property Manager?

How hard can it be? You put an ad in the paper or on Craigslist, you interview a few people, they pay you some money each month, and everyone is happy. Why would anyone hire a Property Manager for such a simple job?

Here's the answer in picture form:

Broken windowsBack yard

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

These pictures were taken after the tenant had been cleaning up for a while. The middle - right picture is sideways but it shows a walk-way that allowed the Tenants to walk over the standing water and feces in the basement!

The owner self-managed multiple properties for years before realizing she was probably losing more than she earned. When she came to me, the Tenants were way behind on rent. I also discovered they were trashing the home and it was a serious health hazard so we evicted immediately. 

MONEY LOST

$10,400 unpaid rent + $20,000 in renovations = $30,400

PROPERTY MANAGEMENT COST

$3,000

The Landlord would have made $27,400 more by hiring me two years ago!

Nearly 50% of my new accounts are Landlords that tried to manage on their own and failed.

If you are a Landlord tired of dealing with Tenants that don’t pay rent, regularly violate your lease, or cause other problems, give me a call. We can do the work, reduce your stress, and ensure steady income.

Learn more about our services online or

Call us at (307) 587-9608

 

Comments (12)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nathan. The old saying holds true:  "you can pay me now or pay me later"! Choose wisely!

Jul 31, 2017 05:07 AM
Donald Urschalitz
Lubeck Realty Group - Jupiter, FL
P.A. Realtor ABR RSPS North Palm Beach County

Some people will step over dollars to pick up pennies.

Jul 31, 2017 05:08 AM
Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

If you have more than several properties and you have day JOB, time to consider a property manager

Jul 31, 2017 05:12 AM
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

Good morning, Wayne. It's absolutely true that they will pay one way or the other. Thanks for commenting.

Jul 31, 2017 05:17 AM
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

Donald Urschalitz that is exactly true! They think they are saving money but in almost every case, they are spending/losing far more than it would cost to hire a property manager. And that doesn't include the work and stress!

Jul 31, 2017 05:18 AM
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

Sham Reddy managing a couple rentals on your own makes sense. I think once you get to 5 or more, it's time to hire someone. Unless you have nothing better to do.

Jul 31, 2017 05:19 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

So you don't wind up with someone running a Meth Lab in your rental property !!!

Jul 31, 2017 06:26 AM
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

Michael J. Perry that is exactly right! Most owners do not screen applications nor do they inspect the property on a regular basis. There's much more required than just collecting a rent check each month!

Jul 31, 2017 06:31 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nathan, 

I don't think it can be any clearer that a property manager is the way to go!  Nice job with the presentation. 

Jul 31, 2017 07:31 AM
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

Thank you, Sheri. I picked up three rentals this month that were all dealing with dead-beat tenants. One of them is owed over $35,000 in unpaid rent and utilities!

Jul 31, 2017 08:11 AM
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Nathan - That's a pretty convincing argument. Most of our clients who use property managers now have seen similar scenes in real life.

Jul 31, 2017 03:42 PM
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

Thanks for commenting, Dick . I hope your year is going better than this owner's!

Jul 31, 2017 07:35 PM