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What is a property management company and what is it that they actually do If you're going to play the game of real estate you need to really understand this very concretely So in today's video'm going to break it all down for you Alright my friends Kris Crohn here, and today we're talking about property management If you're in the game of real estate you're going to have to decide are you going to be your own property managed you hire a different third party property manager Do you skip property management by going lease option You've got a number of different considerations here and what I want to do is I want to hit the really main big ones for you that will help you really just understand what property management alright so the first thing to understand is that property management their responsibility is to find tenants So if you have house, and it's vacant you need to get it rent it out then property manager ingoing to do that My experience of most property managers is they do not sell lease options They just do property management And the reason why that'kind of big deal is because you might say Kris I love your lease option strategy But if you call up a property management company 99 out of 100 arguing to say huh that's not really our bread-and-butter It's not really what wed They will find your tenants They will also replace tenants okay Now the other thing that's really important is they're going to collect the money If you are a bighearted person land lording might be really tough for you because people are always looking for where they got the wiggle room So a number of people arguing to see if they can mooch a little on you and if they can mooch a little they're going to take the pinky They're going to have taken the whole body because that's kind of what goes down Last thing you want to do is get in relationship with a tenant where you're in the perpetual habit of being late Botha're going to go ahead and take care of collections Will also take care coffining their going to enforce the contract right If the people are late there could be some late fees, and they're going to enforce and make sure that the contract is appropriate That it's legal and that the moment anything is broken we're erring on the side of justice instead of our mercy to make sure that the investment goes according to planted're also going to take care of evictions You're going to have some if you buy enough homes You can experience eviction I know there's a lot of people worried about nightmare tenants you know where most nightmare tenants come from It's not property managers placing people its novices placing people So we'll actually put the wrong people in our homes and then when we get what we deserve We didn't know But we didn'tknow the standards We didn't know the mark and the reality Israel basic common sense hey this person makes thirty thousand dollars a year, but they want to rent this place at fifteen hundred a month Well do some basic math there 1500...
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