What's up everybody, welcome back to this week's segment of the no limit minute.

Have you been listening to show for any any amount of time, you know what we like to do when these segments.

You know, I like to try to spend not too much time, but enough time educating you maybe five, 10, 15 minutes on some high level, deep detailed data points about something very specific.

When it comes to what what is going to benefit you or different mindset shifts or financial things or creative strategies, tips, tricks, whatever it is that I can give you to make you and your business more successful.

The purpose of the no limit minute, so today it's going to be no exception, we're going to be going over 25 different points 25 different specific things that you want to look for qualities that are going to make a the difference between an average property manager and an excellent.

So these are 25 things you absolutely want your property manager to have, whether it be the staff that you're hiring within the actual third party company or whether it be the company itself that you're looking to bring on for your asset.

So let's jump in number one.

They have a solid property management training slash experience, so they actually have solid management training or experience and they need to have that solid training or experience in the relevant asset class that you're targeting.

So if you've got an asset that you're looking to turn into short term rents and you've got a manager that's only ever done long term rentals doesn't know anything about short term rentals doesn't know that it takes a lot more actual management and turns and cleans and better like people skills and they don't have any of that because they're used to the longer term lifestyle, maybe they're not even good at marketing to short term tenants.

Then it's probably not the property manager that you want you want them to have very specific training and what it is that you're doing the same thing goes even if they are long term property manager, but let's say you've got a 100 unit complex.

C class it's a little bit older all the rewiring work needs to be done and you go and you find a property manager who's only ever managed 50 units are below they've never done any large scale capex work like doing rewires and all the units.

And there may be not super familiar with even that market that you're in maybe they're really familiar in the market right next to yours, but not necessarily yours and they're like oh well there are a lot they're very similar and you know.

We have a lot of customers and clientele and people that bleed from over here to over here and don't believe in in that jargon they don't have the training or experience that you need them to have they're going to try to sway you they're going to try to tell you that is they want your business right that they're the best awesome property manager that you need to use.

Don't believe in it they need the relevant training experience and what it is you're actually looking to do so you're not only looking at you know comparable properties in terms of rents when you're doing underwriting.

But I need to be looking at comparable properties in terms of what that property manager has actually managed and that's either whether it's going to be a new property management company or the same management company that you may want to keep that property.

They need to have a personal poise solid reasoning skills and a consistent repeatable process to their work the best way to figure out if they've got any of that is to ask basically for referrals try to find other property managers or i'm sorry not other property managers you want to ask that property manager for referrals of other owners in the area that have a very comparable very similar asset and business plan.

Then the one that you have with your deal and hopefully within the same time frame like if they did this same asset class 20 years ago good for them that's just not relevant to today I need in the last like six to 12 months you've done something exactly like this in this exact market with this exact skill set and everything that we need to do.

You've done this before because I need you to excel because you are going to be the face and the driver of success of this asset.

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