My fiance Johnny and I own a property management company in our town, and we have been doing property management for seven years now and the two of us have grown to like it.
We manage both residential and commercial properties for our clients, and in addition to our property management company, the two of us also own more than one property that we rent to tenants.
As with any company venture, being property owners has its advantages, in addition to downsides. For instance, the two of us must be aware of all the current fair housing laws that govern our area to make sure that our tenants are constantly treated fairly. Furthermore, the two of us must know what actions are legal when the two of us do have tenants who might become an issue. Of course, renting a property can become challenging if you can’t retain your tenants. The goal of any property manager is to find an enjoyable tenant who pays the rent on time and who doesn’t destroy or create problems that would cost money for the property owner. Also, we would like to consistently have tenants occupying our properties so that the two of us don’t have to cover the rental costs for when the property is empty. Currently, all our tenants seem content, in addition to that I am glad to say that the two of us have an undoubtedly high tenant retention rate. My fiance and I would like to continue to grow our property management company, and the two of us would eventually like to add commercial properties to our portfolio. We know that tapping into the commercial market will elevate our property management company and the two of us are more than pleased to venture into the next level of this business.