Please note that this post is an excerpt of the webinar hosted by our sister company, The Landlord Code, where our co-founders coach DIY landlords how to avoid problem tenants and maximize rental profitability. Get access to more training like this in our (free!) private Facebook group HERE.
If this management company is reputable and there are hundreds of thousands of reputable management companies nationwide, they’re going to do the job that they’re supposed to do, which is protect you from the worst case scenario. They’re going to make sure that they, when they show their property, it’s showing the best way possible to maximize therental income that can, that can pay for itself,pay for the property management company in and of itself. If you rent your property for 150 to $200 more per month, because it was staged, right, it was clean. It was showing well that pays for the management company likely for the year and a lot of places in the country. Number two, they’re going to ask the right questions and they’re not going to push you in a predicament with fair housing or the law.
Number three, they’re going to have protocol around their qualification practices. Like for us, we have, we use our PQ method. When we qualify people, we have a person paper and a poll. So we do all this stuff physically want to make sure that we qualify. We, we run our own credit. We verify references. We look at all the details to make sure that whoever’s moving to that property as well, qualified and the potential for issues and bad things happening down the road are mitigated on the front end. And guess what? Over a billion dollars worth of real estate that we’ve done, we manage it over the PA. This is just since we started counting over the past 10 years, a less than 1% addiction rate, it works.