Should Your Property Management Company Own Rental Units Too? - Article Banner

What are you looking for in a Columbus property management company? Are you hoping that your Phenix City property management partner is experienced and knowledgeable?

You should definitely be looking for experience. 

What we recommend is that you hire a property manager with personal experience as well as professional experience. 

What do we mean by that? We mean that when your property manager is also a real estate investor, you’re getting an extra layer of understanding when it comes to your needs and challenges. 

At Bickerstaff Parham, we also own rental units, and we believe this helps us relate better to our owners. We understand the stress of vacancy and the fear of bad tenants. We know what it’s like to have to budget for a capital improvement or oversee renovations during a turnover

There are a lot of rewards when it comes to investing in rental property. There are a lot of risks, too. 

How well does your property manager understand? 

Columbus Property Management and a Sense of Urgency

When you work with a property manager who has never owned their own rental home, you might notice there’s not a lot of urgency. The showings will be scheduled eventually and the vendors will be lined up when they’re available. 

Working with a property manager who also owns their own rental units, time is of the absolute essence.

That’s because we understand what a difference a week or even a few days can make in rental income and long term ROI. We won’t waste time. We can’t. 

You need a management company that respects your time, your tenants’ time, and the time that your investment requires. Working with a fellow investor will bring a sense of urgency that all of you can relate to.

Keeping Costs Down and Income Up 

Any good property manager will do their best to maximize your rental income. 

But, a property manager who is also an investor will know some creative ways to keep expenses down and profits up. We have learned some tips and techniques while trying to earn more on our own rental homes. 

Expect a property manager who also has their own rentals to negotiate for better maintenance rates. We’ll dig a little deeper into the local rental rates and set a price for your property that’s both competitive and profitable. We’ll always be looking for the most cost effective ways to make improvements and upgrades because we’ve done this for our own properties

Keeping Phenix City Rental Homes Compliant

Knowledge of LawUnless your property manager is a legal expert, their knowledge of fair housing laws, security deposit requirements, and habitability issues are likely based on what they’ve learned and heard. 

For property managers who also own rental properties, those laws are just as critical to us as they are to you. 

We don’t want to be caught up in a fair housing dispute, either. We’ll do everything we can to avoid going to court over a security deposit challenge. 

You can expect a rental process that’s legally compliant and a lease agreement that’s legally enforceable. We have done this before. 

Look for a property manager who has personal experience in the industry and the market as well as professional experience. You’ll notice a difference in tenant satisfaction and your own. 

If you any questions about Columbus property management, please contact our team at Bickerstaff Parham Property Management.