Property Management Maven

Two property owner/clients I fired in the last 2 years now want to come back.  I’ve never had this happen before that I can remember.

One client did not like the repair/rennovations I suggested for long-term holding of their property so I suggested they find another property manager.  They elected to try to sell the property and had their Realtor handle the temporary leasing of the property.  Well, it did not sell, their “faux” property manager failed to use the correct leasing forms and lead disclosure, the tenants are gone and the property owners have had no income since December.  I’m going to have to think about this one as they may have other issues with the property.

The second set of clients were “new” and after an hour property presentation, 19 page management proposal and numerous e-mails, they wanted to choose the tenants, I said NO; they did not want to repaint children’s rooms to a neurtal color and they did not want to include yard service as we originally discussed.  Since I had very little time invested in setting up the property, I suggested they find another property manager who would agree to their conditions.  Evidently, they made the same demands of other PMs in the area and got similar responses and they now feel that my management program and marketing efforts are superior to the other area property managers they talked to and still want me to handle their home.  I’m leaning toward NO as I see similiar conflicts in our future relationship.

I now see why many property managers are electing to charge a set-up fee when taking on new management accounts * I charge a $400 fee if the 2 year management contract is cancelled within that time * I’m going to pay more attention to the time I invest in setting up a new property and consider it more seriously.

Our area is in the “early throws” of the rental season, so I made sure ALL of my FOR LEASE signs were placed on available properties before Easter so that prospects in the area for the holiday weekend AND for Spring Break who are driving around the area would take interest in the properties I have for lease.

As a frequent poster to Craigslist for rental properties and a frequent “flagger” for discriminatory ads, I am glad to see that the suit from several Chicago area attorneys has been dismissed. Craigslist is an electronic bulletin board * they do not write or even proofread the ads that are posted UNLIKE the faceless print media classified voices or e-mail addresses that we use to insert print media ads. I have seen numerous discriminatory ads for my area on Craigslist and it is these individual landlords that need the attention of Fair Housing agencies rather than the 800 lb gorilla in the Bay Area….unfortunately, there is little or no potential for media attention on individual landlord complaints so it is more likely that these “big splash” cases will continue to be filed in an attempt to extort $$$ for the agencies tasked with investigating and filing these complaints….KUDOS to Craigslist for hanging in there!!!