Menu
The Cost of Property Management is not in the Professional Fees
The Cost of Property Management is not in the Professional Fees

When I reflect back now, after 15 years of managing other peoples’ property, I quake in my boots thinking about my self-management days. That’s before I learned what I know today.

I often hear landlords complain that property management is too costly. But what I have witnessed is that the cost of no management or, worse yet, bad management is the most costly. While it’s really hard to nail down the empirical facts, you can be sure that the cost of tenant turnover and repairs far exceeds the cost of property management. Good property management minimizes both of these sources of costs. And if that’s not enough, there forever looms the threat of lawsuit for negligent or errant behavior as a landlord.

The Cost of Property Management is not in the Professional Fees

If you self-manage, make yourself an expert, don’t do it off the cuff. It may cost you big time, if you do!  If you hire a professional, be sure the professional really knows the job. Get personal references, and do not simply shop management fee rates. Inquire about the services you get for the money. Recent economic conditions have given rise to scores of Johnny-come-lately in property management. Many of these newcomers do not understand the cost of delivering sustainable, quality property-management services. They will discover this quickly enough, but when they do, what will happen to your asset?  What will happen to your relationship?  More importantly, what will be the cost of this experience?

My suggestion is that you find one of the many experienced property management services out there to assist you. A good place to find references is at your local chapter of NARPM (National Association of Residential Property Managers). That’s a professional trade organization, where committed professionals hang out, and learn from the fellowship.


Daniel R. Wilhelm
3 Options Realty, LLC.
678-397-1282
dan@3optionsrealty.com
http://www.3OptionsRealty.com

Our Services

  • Our Guarantee

    Our Guarantee

    3 Options Realty is committed to providing Georgia's best property management services. But in the unlikely event that a landlord…

    Read More
  • Eviction Protection

    Eviction Protection

    A dream tenant on move-in day can turn into an eviction case six months later. Missed rent, damage to your property,…

    Read More
  • Property Management

    Property Management

    Are you struggling to maintain multiple rental properties? Have you recently purchased your first real estate investment, but are feeling overwhelmed…

    Read More
  • The 3 Options Realty Difference

    The 3 Options Realty Difference

    Most property management companies are designed around the departmental organizational structure.  3 Options Realty is much different and there are…

    Read More
Recent Blog
13
May
Five Ways to Highlight Every Rental Property’s Most Sellable Features

Every rental property is different, as each one has distinct features that make it stand out from the rest of the…

Read More
06
May
8 Pro Tips to Refine Your Move-Out Process

When tenants, landlords, or property managers terminate a lease, it sets in motion a move-out process that occurs in several stages.…

Read More
01
May
Property Manager Skills: What to Look for in a Property Manager

Rental property ownership comes with a multitude of responsibilities that can be overwhelming if tackled alone. With that said, hiring…

Read More
01
May
How to Rent a Furnished Apartment That’s Right for You?

Furnished apartments are popular options for short-term renters. Whether it is a temporary move, a short job, or you just need…

Read More