Straight From the Source

Another property management interview conducted was with a Brooke McCarty a local real estate/property management and investments person who has experience in the property management field. Here is what she said about property management;

What is the biggest challenge in the property management field?
The biggest challenge in the property management industry for us is keeping the units filled. There is such saturation in the rental market right now (local and nationwide) because of the steady building and with the housing market being very affordable with low interest rates and accessibility. The other thing that is challenging in the property management field is that you have to be able to answer your phone and follow up on leads as soon as you can. There is sometimes such a quick turnover in the rental/buying market that if you are not on top of your property management game it will pass your business by. It sometimes feels like you are always on your phone, juggling viewings, setting appointment and giving out information.

Then I asked them for the time they have been involved in property management, what were some of the changes they have experienced in property management?
While there seem to be plenty of customers to keep our property management business busy, the rental market can sometimes be too large. Lately our business has seen an over abundance of rental units and when you don’t know the landlord, price cutting among rental properties on the same street can hurt the business. Try to know your landlords and stay in communication with them, it will help your business.

I asked them mention a key item in property management.
The biggest factor in property management to me is the communication the landlord and the tenant. Being able to be the middle person in property management is sometimes a difficult task in the effort to please both parties. I would also say that being available to customers is key element in property management. Not all property management businesses are available after 5pm. I have found that by extending my schedule, I can make showing appointment in the early evening when it is convenient for my clients.

And last to share a funny story about property management………
Our property management business recently had a tenant ’stop’ a water leak with a piece of tape. So that did not last and  she completely flooded our rental and we just had to file an insurance claim on it for approximately $4,000 that she of course has no money to pay our deductible!!!

Conducted by Natalie Thomas, TQA’s executive and business blog writer.

Thanks for visiting our Property Management blog, a blog that can teach you a thing or two.

PhoneSmart is your offsite sales force and call center in Columbia, Missouri.

Rent storage at 4000 S. Providence Rd, Columbia, MO 65203

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Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.

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