Ep69: Hiring The Right Property Manager - Marco Kozlowski

Big Fat Real Estate Checks

Marco Kozlowski

How To, Education, Realestate, Business, Investing

5 • 957 Ratings

🗓️ 15 March 2021

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

The property manager (PM) is likely the most important member of your investment team. Investing in real estate and thriving in it is a top priority for you, and hiring the right Property Manager is necessary to keep the property occupied whether it keeps the tenants happy and the building competitive or looking for other properties in the market.

In this episode, Marco and his co-hosts talk about the importance of hiring the right Property Managers and what questions to ask for your potential property manager.

EPISODE NOTES:

Understanding about rental units a property manager can manage
What are the inclusion of fees and how do property managers charge?
For Vacant rents: is it necessary to charge an added fee?
When it comes to the maintenance, what is the basis or how do you increase the fee if the company is based on gross revenue
How does a property manager collect fees?
Under what circumstances can a property manager cancel an agreement?
The terms to consider and cancel the agreement
How a property manager market the units when it’s vacant
Ways to advertise the units.
The kind of reporting can a property manager provide

RESOURCES FROM THIS EPISODE

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Email: [email protected]

Website: https://marcokozlowski.com

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Transcript

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0:00.0	On the anniversary of the lease, I like to give a bonus as well of a half-month rent if they're renewing the lease because they've done a great job
0:07.8	So it gives them a high-five to a good job on finding a good tenant and you know, yeah, performance bonus is a great
0:13.5	It's not only do you know, we hold them accountable when they do something wrong when they do something right they get rewarded
0:19.0	It's fair. It does work both ways
0:21.7	Welcome to the big fat real estate checks podcast with Marco Kuzlowski
0:26.8	Where we help investors like you get the knowledge and skills you need to replace your J-O-B with passive cash flow for life
0:36.2	Hey, Marco here
0:37.2	I really wanted to share with you our earlier podcasts that we created now our mics were not the best
0:43.4	But the content was really strong and I know you will learn a lot
0:48.5	We had an absolute blast recording this and I know you're absolutely going to love it as much as we love recording it
0:55.5	This extremely content rich information will not only give you the edge in your real estate investing business, but in everyday life enjoy
1:06.5	Welcome back in this episode. We're going to get into interviewing a property manager
1:12.1	I actually have a list of quite a few questions to ask we're not going to go over all of them
1:16.4	But we're going to go over a handful of them to get you to get a feel of the kinds of questions and why we're asking these kinds of questions
1:23.7	To make sure we have the best possible property managers in place at all times because of the quality of the asset or the quality of the
1:32.4	Revenue that I'm going to receive is based on the quality of the management if I have shitty management bad things are going to happen
1:38.7	So let's get things rolling. Yeah, so a couple of questions
1:42.2	We can start with the first one which is how many rental units do you manage?
1:45.9	You cannot start to the property manager
1:47.7	Why do you want to know two reasons one if they don't manage enough units?
1:52.6	So if they only manage 10 units in the area then obviously they're considered inexperienced or not enough experience to be able to
1:59.6	To manage your property want someone without more experience than that
	...

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