By 2009 I had increasingly been shocked at the sloppy and
expensive management services being offered to
landlords by Real Estate companies. Over
the previous 16 years I had owned and managed properties
for myself and friends, as well as using so called
professional property managers. By 2009 I said enough to
these substandard services; and that's why I started the
first Property Management company offering landlords the
opportunity to trial management services for FREE. I also
wanted to give something back to my fellow property
investors, so I worked out a business model which would
operate on lower margins. The idea was to Give you More...
But it is with property managers I have had the most frustrations. After all, you trust them to look after your properties and you pay for this service. Check out a few of my experiences below.
I currently own 24 20 rental units and have been using managers and managing my own and friends properties since 1993.
LOW FLAT FEE MANAGEMENT
With most managers charging a % fee I have always let out my own more expensive properties, often finding it easier than the less expensive properties. I just don't get why the owners who get higher rents pay more. It's the same service and the tenants are often easier.
So why pay more?
OPERATING LIKE AN OWNER
Most of the problems of poor service come
from overworked property managers who get paid the same
salary whether or not they do a good job. Whenever I have
had good property mangers they have usually been the
owners of the business... they just try harder. They have
a real stake in keeping the landlord happy and getting the
rent in. When does it go wrong? When they get too big and
hire salaried staff. They just can't be there making sure
these staff are doing the right job. At WeRent we have
a profit share (or pay per action) so we are incentivised to look after your
properties as though they are our own.
With WeRent you are assured that the people looking after your properties CARE MORE because if they don't, they feel it first.