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A Lesson In Money Management
It disturbs me when I read about marketers who've lost a ton of money promoting their ventures. I've seen messages by marketers who've spent as much as $9,000 without making a cent. What's even more disturbing is the fact that many of them have...
Debt Management
Debt management. To be sure, the phrase has been in use for some time
now and the Federal Trade Commission reports that there is a fast growing area
of complaint involving the so-called Credit Management or Debt Management
industry. But...
Effective Talent Management
When three leading magazines (Harvard Business Review, Business Week, and Training & Development) all have cover stories about talent management the same month, it is safe to say you are looking at a hot topic.
Talent management (the recruiting,...
Tips for Credit Card Debt Management
Debt management is a course every American needs to take simply because so many Americans are clueless when it comes to credit and debt management. This is unfortunate because many people do permanent damage to their credit record by not knowing how...
Two Most Important Time Management Questions
Have you ever found yourself thinking about work when you were supposed to be enjoying time with your family… or thinking about your plans for the evening during your work day? Nearly every day, I hear someone tell me they wished there were more...
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Hiring Rental Property Management
Why hire rental property management? Because doing it all yourself is the surest way to make your real estate investment experience a bitter one. You also have more time to find the next deal when there is someone taking care of the details for you. Hire a good property manager, but first ask the following questions.
1. How much is the fee? Fees vary around the country from as low as 4% of gross rents for larger buildings, to as high as 12% for single family homes. Be sure the fee is clearly stated and understood.
2. What other properties do they manage? It is best if they handle rental properties that are similar to yours. It is also helpful to drive by their other properties to see how they are maintained. 3. Who will actually handle your property? It is best if one person handles your building all the time. They should also have some experience. Get their name.
4. What costs extra? Is it extra for showings? Do evictions cost extra (beyond the legal fees)? Any other extras?
5. How is the fee collected and when? Will you be billed, or will it be deducted from your
account directly? Monthly? Quarterly?
6. What type of advertising? How do they advertise the units and what does it typically cost you?
7. Cost and time to prepare units? What is the typical cleaning fee on a vacancy, and how long will it normally be before it's rented out again?
8. What needs owner approval? What dollar amount needs your authorization, and is this negotiable?
9. Hours of operation? What are their business hours, and who takes weekend calls?
10. Accounting? What reports do they send? How often? How are accounts set up?
There are probably other questions you'll have as well, based on your particular needs and the particular property. Ask everything up front, and you'll have fewer misunderstandings. With good rental property management, real estate investing is a lot less stressful.
About the Author
Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com
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Management - Wikipedia, the free encyclopedia |
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Management |
International review on management research. Peer-reviewed, occasional. Ejournal, with tables of content, abstracts and full articles available on-line. |
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Distributed object computing industry standards group founded in 1989. Defined standards include CORBA and IIOP. |
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Management Reading | Global Executive | Business | Economist.com |
The one management thinker every educated person should read Nov 17th 2005 ... The story of Emerson's successful management process is fascinating. ... |
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Emerald: Home |
Publisher of journals in management and library and information services, engineering, applied science and technology. |
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Yale School of Management |
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