Episode 8 – Is There a Good Property Management Company?

Episode 8 of the Smarter Landlording Podcast poses a question every landlord has asked at some point: Is there a good property management company? The answer may surprise you. To get to the answer, the SmarterLandlording Podcast talks again with Richard Scarbrough. Richard has over 40 years experience in all facets of real estate investing and has used numerous property managers during his career. In this podcast, Richard and I explain the five ways property management companies make their money and how these may create incentives that are not so beneficial to the landlord. We also describe two major issues with property managers that all investors should be aware of.Next, we talk about what a landlord should do if they choose to go the property management route, including the major questions you should ask when considering a property management company. Plus, we consider if you can and should tailor the contract with the management company to better suit your needs.Finally, we talk about some steps you can take to make self-managing your properties easier, including how to handle money flow and repairs.Richard is always a wealth of real estate investing knowledge and he again shares some great information regarding property management companies on this episode of the SmarterLandlording Podcast. Give us a listen today!