How to Hire & Manage a Property Manager

2022-10-05

It’s hard to overstate the importance of choosing the right property manager. When you’re not around, they will literally make your investment flourish or fail! While your property manager can be your best friend in the lead-up to signing a contract, it’s what happens once they have the keys that really matters. A poorly chosen property manager can quickly turn into an endless nightmare. In this episode, Terrie provides a Five-Point Strategy for selecting and managing a property manager. It's a treat you don't want to miss!

It’s hard to overstate the importance of choosing the right property manager. When you’re not around, they will literally make your investment flourish or fail!

While your property manager can be your best friend in the lead-up to signing a contract, it’s what happens once they have the keys that really matters. A poorly chosen property manager can quickly turn into an endless nightmare.

In this episode, Terrie provides a Five-Point Strategy for selecting and managing a property manager.

It's a treat you don't want to miss!

What we learned from Terrie Schauer in this episode:

- Managing the manager: When should you keep or fire a property manager?

- The five point strategy for managing the property manager.

- The importance of understanding how property managers are being paid.

Success Quotes:

"People get paid a certain way and if you understand the financial rewards in a particular industry, you're going to understand where your incentives and the professionals' incentives might not be perfectly aligned.”

Timestamp:

00:00 - Intro

00:27 - Terrie shares the experience of firing a property manager.

02:22 - The first point in managing a property manager.

06:16 - The second point in managing a property manager.

07:22 - The third point in managing a property manager.

08:26 - The fourth point in managing a property manager.

08:39 - The fifth point in managing a property manager.

11:17 - Outro

Connect with Terrie Schauer here:

TerrieSchauer.com

MindfulLandlord.com