There are investors for whom the management company is the gold and silver, and as soon as the property is transferred to its management, for them it is...

Original posting date on the United States Real Estate Forum on Facebook:
2019-01-06T20:29:12+0000

There are investors for whom the management company is the gold standard, and once the property is transferred to its management, it is “set and forget” for them.
This approach is fundamentally wrong, since we as investors must understand how the management company operates, what its interests are, and who it protects.
More than once, when the management company feels that “the cat is asleep,” the mice start to celebrate, and we should not allow that.
The management company needs to feel that we are reviewing its every step, and every decision needs to have a logical explanation and documentation. All of this also links to the first video on choosing the company, in which we will examine the existing procedures for different scenarios.
It is important to have a permanent contact person who knows us personally, who knows our history, what is important to us, and who is able to give us a reliable market overview, reliable professionals, and an organized way to receive reports.
In the third video, I present tips for daily dealings with the management company we have chosen. It is important to always remember that we as investors manage the business, are responsible for making sure things happen, and they are supposed to serve us according to the instructions we give.
It hurts the management company less than it does us that a property is empty. In some cases, they don't even come out of it unscathed. (One of the situations that is recommended to be avoided in advance when choosing the company and signing the agreement.)

How to act regularly with the management company, what to demand and what to do, to maximize the return. For more details: https://bit.ly/2NzNCoa

Link to the original post on the United States Real Estate Forum on Facebook