Wonderful point!! The best way to emulate amazing qualities is to watch and study landlords that you have had! They will often teach you what "not" to do but it is great to hear you have a terrific landlord. Just a thought for you - I would see if you could take them out to lunch or coffee or something. If they are doing 95% of what Matt is suggesting, they are doing something right! This might be a good connection for you - maybe you can mentor under them or help them in some way. Sounds like a great company to learn from. It would be awesome if you can sit with the property manager and pick their brain a bit and add value in some way too! Just a thought for you! Good luck!! And if you ever have any questions, we answer questions every Monday on Mentorship Monday. Please email helpme@derosagroup.com. Happy to help you!!! :)

Thanks! To get a big basket of goodies and bonuses PLUS a coupon to join our DeRosa Insiders program for $1 the first month, just text DEROSA to 66866. Go to www.derosagroup.com/insiders to learn more about Insiders.

Thanks for the feedback! Just a fyi, because Matt's schedule is so crazy and busy, we shoot a lot of videos we post here on KZfaq the same day to be as efficient as possible and maximize our time. That is why you see Matt wearing the same few shirts! Lol! Glad you liked the video!

Jake Hamilton ll

Glad you think so!

Thanks! You can go to www.biggerpockets.com/privatemoneybook to pick it up and also get a bunch of bonuses including an Ebook on buying apartment buildings!

It's my pleasure

Glad it was helpful! Thank you! I would say just do your research when looking for property managers. I like to go by networking and asking local landlords for good referrals instead of just the yellow pages. Make sure to subscribe for new videos twice a week like tonights video: kzfaq.info/get/bejne/qqqhqLKfx7Cak5c.html We just closed on a bunch of properties so we have a lot more content coming soon!

I would use the same team for a 1 unit up to a 50, then over 50 there are pm companies that only do larger complexes, I'd go with them

@@DeRosaGroup thank you for the advice much appreciated 🙌🏽

Of course! They aren't allowed to discriminate.

Thanks so much for ur reply Well so many things are not allowed on paper but what Actually happens in the real world is what I am asking

I get it. Older people can sometimes have more people skills. Property mmt is a big people business. You have to have difficult conversations like when the tenants heat is going to get fixed or why they didn't pay their rent. If you can show them that you get people, can relate and communicate with them, you will be an asset.

Thank you Vivien!! Check out some of our new videos and tips here!! kzfaq.info/sun/PLwMizf219eEJbmzKrSVVvjcTqFfWgfUjz

We began many years ago when we had a small portfolio (less than 10) with Rent Manager. Although it was good over the years, we outgrew it. We have moved to AppFolio and we have been very happy we have done this. You can check out our website (www.derosagroup.com) AppFolio built this website and included on their a tenant portal, investor/owner portal, ability to market units and apply right from our website, and also an area on our website where tenants can submit maintenance requests. We have found AppFolio to be much more user friendly than Rent Manager. If we had to do it over again, and had 5 tenants, I would use another system called "Buildium" - I think this system is much better for less than 50 units. Although we have never used it, we have heard very good things about it. Either way, I would highly encourage you to use something. I am so glad we used a system early on vs. having to switch to something later on! Hope this helps!!

Yardi voyager!

The property manager is not a direct shelter for lawsuits - if they get sued the owner will get sued too. That said, they can help you avoid the lawsuit altogether as they know the local codes, can establish preventative maintenace protocol to remove hazards that can become a claim in the future, etc...

Yeah knowing local codes is super important as a maintenance manager.

Great question. It is standard for property management companies to charge either a half of month's rent or full month's rent to the owner to lease the unit. I don't think we have ever heard of a property management company not charging for this service. When evaluating property management companies, you want to make sure that they have a strong process for leasing units. Some outsource this to a leasing agent, and some have their Property Manager facilitate all the leasing activity. You just want to make sure they have a website and strong marketing that way they lease your units quickly. Hope this helps! Thanks for commenting!!

​@@DeRosaGroup Sorry if this is a bit late, but this is something I don't quite understand: If the property manager makes most of their money from collecting first month's rent, what's to stop them from only looking for questionable tenants or even high risk tenants that they know will only last a few months? That way, they collect first month's rent from that tenant, PLUS the next tenant a few months later. It just kind of seems like a closed loop. Are there any ways to prevent PMs from doing this?

Yes, great question. You would ask the PM to provide a warranty on tenants they approve. If someone they put in the unit get evicted inside the first 6 months they would replace them for no fee. Just an example.

Basilio Alcantara, My name is Michael Fernandini and I work alongside the owner of our property management company. If you still need assistance with managing a property or have any questions give us a call 407-421-6256.

I think it's just his way of saying that he uses the winner's winning as a way to promote interest in future drawings... which is ultimately just a fun way to incentivize paying one's rent on time. ☺️