All Topics / Heads Up! / Dedicated Property Management Business

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  • Profile photo of Matt_ArnoldMatt_Arnold
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    @matt_arnold
    Join Date: 2006
    Post Count: 142

    One of my good friends is considering starting her own business as a dedicated residential property manager.

    In brief, she has worked for several years in a real estate office as a property manager, and has the opinion that quite often the property management department is seen as the 'default' department. As such, many investors are not getting the service they deserve.

    Her pitch is that by having a 'dedicated property management' business, with no distraction based around sales, she can greatly improve the service offered.

    The catch, to fund the increased service and lack of 'sales revenue', she is going to need to charge about 10 – 12% fees.

    So, my questions at this stage;

    1) As investors, would you prefer to list your property with a 'dedicated' property manager as opposed to a standard real estate ?
    2) Would you be prepared to pay above industry rates for the management if the additional service reflected the fees?
    3) What level of service / additional services etc would you want over and above what you are currently receiving in return for the additional fees?

    Thanks in advance !!!

    Matt     

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