A property manager explains how to align management decisions with the owner's goals, whether flipping in 2-3 years or holding long-term. High occupancy and tenant retention drive revenue. Spending and operations should match the holding timeline.
Chapters
What are some of the key things that you as a property manager that you do to successfully manage these properties?
Getting in line with, with our owner and our client. They think of us as an extension of themselves, but the primary thing is what do you want? Why do you want it? And then let's plan in that direction. When we get people that just buy and then they, they're like, hey, rent this. Usually it usually heads for rocky waters because there's not a whole lot of us understanding what their goals are. We're obviously always gonna do work, work to keep it tenanted. Vacancy is your number one enemy for the most amount of money, right? Those two things are normal. Every property manager should be doing them. It, it's even more so of like, well, is this a 5 to 7 year property? Because if we're in it for a little bit longer, we're gonna change how and when we're putting money into it. If you're only gonna have this 2 to 3 years, we might start pre-planning some of this stuff if this is going to become a flip.