If you manage a small number of residential rental properties—say, fewer than 25—then this program is for you. Suppose later today you find yourself on one phone line listening to a $635,000 sale fall apart while on the other line you have a tenant who has just informed you the dishwasher is gushing water all over the kitchen floor, and hasn’t a clue what to do about it. Most likely the faltering sale will consume your immediate attention but in the back of your mind you know the property management issue requires your immediate attention as well. That would be YOUR attention, because with fewer than 25 properties you probably do not employ an assistant to help you with your management responsibilities. At this point you may find yourself wondering if it is even worth the effort.
Actually, managing rental property can be a lot of fun—provided you have adequate support staff, appropriate software, reliable vendors, a location central to your inventory, an aggressive leasing program, and the personal dedication necessary to pull it all together and make it work. But your expertise is most likely in real estate sales, so your property management demands are generally a distraction from your real vocation. I can assure you that no matter what size your inventory, if you are not 100% focused on your property management business, it can cause you some serious problems. As an alternative, consider outsourcing with WJD. If you would like to explore this possibility, please do not hesitate to contact me. I look forward to hearing from you.
WJD Management LLC