Hiring a Property Manager (Part 1)

This seemed a like a good choice for the first series of posts for Real Estate Blog. As a property manager I am often asked what services does my firm provide and what do our services cost. That seems to be where most people want to start when beginning the section process of hiring a property manager. I think there are a few earlier stages to the selection process.

First question is "Do you need a property manager?"

Most people hire property managers because they either lack the time, knowledge, desire or proximity to the property needed to property perform the day to day tasks that are needed to properly ensure the success of the property.

Things to take into consideration:

• Do you really have any "free" time? or Are you working a 9-5 job, with family obligations?
• Do you know how to set proper rent amounts? or How to handle an eviction PROPERLY? or How to execute a LEGAL lease? Or Do you know how to stay in compliance with fair housing guidelines?
• Do you really want to receive a phone call at 4am in a snow storm? Do you want to be interrupted by a tenant while you are in the middle of dinner to discuss why the tenant hasn't paid their rent? or Do you really want to meet, get stood up, screen and make decisions about who to rent to?
• Can you be at the property within 30mins at the drop of a hat to attend to an emergency?

More often than not anyone that owns an investment property NEEDS a property Manager.

Part 2 “Why you bought the property”

Peter N. Lamandre is a Licensed Real Estate Broker, Consultant, Speaker, Mentor and Licensed Real Estate Instructor in Scranton Pennsylvania. He currently owns and operates Better by Design Real Estate, LLC a full service Real Estate Brokerage in Scranton, PA. One of the areas of specialty Better by design Real Estate. LLC is property Management. Peter is a member of IREM (Institute of Real Estate Management), the National Association of REALTORS®, the Pennsylvania Association of REALTORS® and the Greater Scranton Board of REALTORS® where he services on various committees and taskforces. Peter can be reached at his office at (570) 969-2105 or by visiting BetterByDesignRE.com.