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#431637 - 01/09/14 03:33 PM Taking on a new client??
toledorules Offline
Member

Registered: 07/14/07
Posts: 64
Loc: United States
A prospect called in and wanted us to take over 8 units ( single families ) already rented for 6 months contract only - Just wanted some feedback if you are property managing and received this request what would your response be?

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#431656 - 01/10/14 04:46 AM Re: Taking on a new client?? [Re: toledorules]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7858
Loc: Vermont's North-East Kingdom
Are all of the books in order ?

Or did the prior Property Manager leave things in a mess ?

Was there a Property Manager? Bonded ?

Is there a lot of deferred maintenance ?

How well screened were the Tenants ?

May be more interesting than starting with an empty building ?

Singles are the hardest to monitor; there are no other building occupants to report on what's going on within the building.

I'm assuming the 6 months is just a trial period; or do they just want you to straighten things out and then they'll take over ?

If the latter; I wouldn't invest the effort.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#437278 - 06/30/14 03:31 AM Re: Taking on a new client?? [Re: Vermont]
DanDav Offline
Member

Registered: 06/26/14
Posts: 12
Loc: United States
[quote=Vermont]Are all of the books in order ?

Or did the prior Property Manager leave things in a mess ?

Was there a Property Manager? Bonded ?

Is there a lot of deferred maintenance ?

How well screened were the Tenants ?

May be more interesting than starting with an empty building ?

Singles are the hardest to monitor; there are no other building occupants to report on what's going on within the building.

I'm assuming the 6 months is just a trial period; or do they just want you to straighten things out and then they'll take over ?

If the latter; I wouldn't invest the effort. [/quote]

All absolutely necessary questions, but in my opinion it seems like an unnecessary headache.

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#446395 - 07/12/15 06:57 AM Re: Taking on a new client?? [Re: toledorules]
Rents2Riches-Pat Offline
Member

Registered: 05/04/12
Posts: 62
Loc: Oregon, USA
I am not sure why other people are hemming and hawing about this. Yes, do your due diligence. If the property is a mess with respect to organization, then determine the extra work required to bring it into order and charge them!!

You should not even be second guessing this!

Message me if you think I can help. No brainer here.
_________________________
Patrick Rogers owns and operates Asurent Property Management located in Medford Oregon and is also a nationwide Property Management Marketing Business Coach through Rents2Riches.

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