My partner John and I own a property management supplier corp in our town, and we both have been doing property management for 15 years now and we have grown to prefer it.
We manage both residential and commercial properties for our shoppers and our property management corporation, and both of us also own more than one property we rent to different renters.
As with any business venture, being property owners has its advantages and downsides. For instance, both of us must be aware of all the current housing laws that govern our part to make sure that our renters are consistently treated fairly. Furthermore, both of us must know what actions are legal when we have renters who might become an issue. But of course, renting a property can become challenging if you can’t retain your renters. The goal of any property director is to find a superb renter who pays the rent on time and who doesn’t destroy or create complications that would cost money for the property owner. Also, both of us would love to consistently have renters occupying our properties, so that we don’t have to cover the rental costs for when the property is empty. Currently, all our renters seem satisfied, and I am ecstatic to say that both of us have a undoubtedly high renter retention rate. My partner and I would prefer to continue to grow our property management corporation, and both of us would eventually prefer to add commercial properties to our portfolio. We really think that tapping into the commercial market will elevate our property management supplier corp, and both of us are more than gleeful to venture into the next level of this business.