In this episode of Uncontested Investing, we continue our "Building Out Your Team" series by diving into one of the most crucial roles for any investor: the property manager.
We explore why property managers are the boots on the ground and the true extension of the investor, and how hiring the wrong one can derail your portfolio quickly. From maximizing cash flow and tenant retention to protecting your long-term property value, the right property manager can make or break your strategy.
This episode covers the qualities to look for, the red flags to avoid, the questions you need to ask during the interview process, and how to structure a long-term relationship that sets both you and your property manager up for success.
Key Talking Points of the Episode
00:00 Introduction
01:01 The real role of a property manager in your real estate business
02:13 Tenant Relationships: Why personal touches lead to renewals
03:45 Qualities of a good property manager: Transparency, proactivity, responsiveness
05:50 How reputation and local experience will translate into attracting tenants
07:35 Systems and processes: tenant screening, maintenance, rent collection
08:45 Legal knowledge and fluency in local ordinances
10:47 Key interview questions when finding a property manager
12:56 The importance of the relationships built with your tenants
13:26 Handling maintenance requests and emergencies
14:34 Tenant screening: credit, background checks, and criminal history
15:51 Fees, services, and ensuring fairness in contracts
16:56 How references can help you find the right property manager
19:16 Red flags: vague answers, poor communication, no written agreements
21:02 Excessive maintenance markups and lack of online presence
23:31 Vendor relationships, likability, and tenant interactions
26:02 Tips for investors: trial periods, evaluation, local vs. national property managers
29:10 Long-term relationships: clear expectations, bonus incentives, and accountability
33:39 Communication, escalation procedures, and long-term success strategies
Quotables
"The property manager is an extension of you as an investor. They handle what you can't, so you can focus on growth."
"Transparency is non-negotiable. If they're closed off in the first meeting, that's a red flag."
"Don't just hand your property over and forget it. Set expectations, review reports, and stay engaged."
Links
RCN Capital
https://www.rcncapital.com/podcast
https://www.instagram.com/rcn_capital/
REI INK
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