Keep it stupid simple ! charge minimum 10% of the rental price , renter is responsible for lawn care and general upkeep of the property , owner responsible for maintenance , property manager handles the paperwork , the inspections and on calls and coordinations and referrals
@searchbug Жыл бұрын
Just wanna add, when building your property management business, make sure you partner with a data company that offers intelligent contact data or background check/screening services to help you screen potential tenants. There's a lot of data companies that can help you verify identity of people.
@alpfiestafoodsltd2282 жыл бұрын
Very informative, I like the wisdom and experience being demonstrated.
@jedmond17 жыл бұрын
Just found this show on UTube and I will tell this was an excellent interview. Very, very informative! As a person looking to start a PM business, this interview was on target. Awesome! Thank you both!
@ThePropertyManagementShow7 жыл бұрын
Glad you liked it! Feel free to subscribe to our channel for more information on running a property management business!
@wjackstl7 жыл бұрын
The Property Management Show you Sir, must continue uploading videos. phenomenal show, great content, awesome guest and love your style - good flow, consistent recaps and deep questions. bravo
@AlexOsenenkoFourandhalf6 жыл бұрын
Thank you sir.
@franceschou80436 жыл бұрын
Jim E h vbbbvb
@IDONTLIKETHATSHIT7 жыл бұрын
Great interview, I wondered upon this video and I'm glad I stayed. Ms Richards you're an amazing person!
@RentalMatters7 жыл бұрын
So glad you enjoyed the content.
@BigDaleT7 жыл бұрын
She charges fees for everything. So what is included in the original fee? Nothing?
@ChristianBimmer3 жыл бұрын
Great information! Thanks for having her on the show!
@investconnect94737 жыл бұрын
awesome cast. Great info Kathleen....simply amazing!!!I love creative thinkers!
@callipto3 жыл бұрын
Alot of value in this and learnt alot, thank you!
@ThePropertyManagementShow3 жыл бұрын
Glad to hear it! If you're looking for more info on initiating a marketing strategy for your new property management company, take a look at "How to Market a New PM Company" -- fourandhalf.com/how-to-market-a-new-property-management-company/
@rentospropertymanagementso48953 жыл бұрын
Helpful video. Thank you for sharing the valuable inputs to start a property management company.
@ThePropertyManagementShow3 жыл бұрын
Glad it was helpful!
@workingshlub88617 жыл бұрын
property managers get around 10% of the gross monthly rents.
@birdeyes2007 жыл бұрын
What are the prices this property management charges? She never mentioned her prices for each service.
@torivillarreal71583 жыл бұрын
From what I’ve experienced it ranges from a set fee per month or a % of the rent per month. Examples I’ve seen= flat rate companies $75-100 per month. % companies 8-10% of the rent per month plus a bonus of 1/2 months rent when the tenants renew their lease. (I am a property manager in Houston, Texas)
@Nikannosneb4 жыл бұрын
a very educative discussion. thank you
@ThePropertyManagementShow4 жыл бұрын
We're glad you found this episode helpful! If you're starting out in property management, we highly recommend you also watch these two episodes: 1.) Risk Management Mistakes that Keep Property Managers Up at Night - kzbin.info/www/bejne/oIann5uDebqeo9E 2.) Property Management Banking and Trust Accounts Explained by a Banker - kzbin.info/www/bejne/pJ6Vf6p6nrh5rLs These two components are extremely important to all property managers, and understanding these areas of the business earlier on will lead to a stronger business foundation. Do let us know if there are any topics you would like to see in future episodes, Benson! We're always open to suggestions. Hope you are staying safe and well!
@OttoThompsonReviews7 жыл бұрын
Cathy what's you profit per year. I know this video is old and I don't expect am answer. But I would like to know what's the average revenue for new apartment manager business onwers.
@tommajor38324 жыл бұрын
Thank you for your time!!!!!
@bettylopez1557 жыл бұрын
Thank you for all your information. Great interview.
@PortolaRentals7 жыл бұрын
Betty, so glad you found the information useful. Thanks for taking the time to watch and listen.
@mrs.c65697 жыл бұрын
Please give us newbies some example figures! Starting rates at least.
@torivillarreal71583 жыл бұрын
I answered birdies comment above. $70-100 per month or 8-10% per month plus 1/2 months bonus each month
@paulsdoe8 ай бұрын
I tried listening to the video...the constant feedback noise or low hum made it difficult.
@ThePropertyManagementShow8 ай бұрын
Hi Paul, thanks for the feedback. This was recorded in early 2016 when recording equipment and editing software were a far cry from what we have today. However, if the background noise is too distracting for you, you can read the transcript instead: fourandhalf.com/starting-a-property-management-company-how-much-to-charge-and-how-to-build-a-team/. We hope that despite the sub-par quality of this old recording, you will still find some insights from their discussion. Our more recent episodes also have higher audio quality, and now include video. Please try to check them out as well. Thank you so much, and have a wonderful week!
@adambrent40765 жыл бұрын
Good interview. But...she never answer the charge question.
@historyhongkong75215 ай бұрын
May I ask which jobs can one change after working as a senior property manager or officer with professional qualification for 20 years please?
@ThePropertyManagementShow4 ай бұрын
Hi @historyhongkong7521, are you thinking of staying within the residential property management space? It really depends on what you are passionate about or what aspects of property management align best with your skills. For example: if you are good in sales and like to talk to people, you might want to consider a Business Development Manager role (BDM) at a property management company. Your experience as a senior property manager or officer might actually give you an edge because you will be able to explain things very well to the property owners, and you have a much deeper understanding of what goes on behind the scenes after doing it yourself for 20 years.
@historyhongkong75214 ай бұрын
@@ThePropertyManagementShow Sorry. I am asking which non-property related working fields can a property officer or manager change to work at. Which fields please?
@refused13kilnxiii6 жыл бұрын
Girl, you are hired!!
@segelenge2 жыл бұрын
What was the name of the Property management manual James storms or Gene storms Can i anyone help? Thank you
@ThePropertyManagementShow2 жыл бұрын
The name is Jean Storms, and she actually sold her LandlordSource business to Kathleen Richards in 2017. Kathleen rebranded it to PM Made Easy and you can find it here - www.pmmadeeasy.com/. If you use the promo code FOURANDHALF, you can get 20% off PM Made Easy products.
@patriotliberty30706 жыл бұрын
Awesome info! New sub here😉does Kathleen have an email so I can get a hold of her for coaching services or an ebook for beginning property managers? Thank you!!
@sebastianricci42794 жыл бұрын
@Rachel Byers did you happen to find that ebook or coaching?
@davidalmendarez78744 жыл бұрын
how could anybody afford that? nickel and dime kinda management..
@krisone634 жыл бұрын
A GOOD property manager is experienced in contracting therefore they can foresee problems with a home before they occur and allow the home owner to prepare for future expenses. Depending on what state you live in a real estate agent is licensed to find renters and qualify them, not property managers. I have property managers that also know how to change something as simple as a light bulb to replacing a toilet. They also give advice on how to improve a home with replacement furnishings or appliances. This lady does not, she simply farms everything out... as the interviewer state, it's nickel and diming people. The person that can offer more can put her out of business and I hardly think she is worth modeling a business after.
@aftech72683 жыл бұрын
Yup
@claudiaramos79084 жыл бұрын
I’m would like so more info on Kathleen management
@ThePropertyManagementShow4 жыл бұрын
Hi Claudia, what kind of information about Kathleen Richards are you looking for? Or did you mean you want to hear more about property management from Kathleen? P.S. We just published a new podcast episode which has Kathleen Richards as our guest. If you haven't seen it yet, we suggest you check it out: kzbin.info/www/bejne/oIann5uDebqeo9E
@JedBergowitz7 жыл бұрын
Do you have to be a Real Estate Agent or a Broker to start a PM company?
@RentalMatters7 жыл бұрын
If you are in CA you do need a sales license and work under a broker to start a property management company if you are managing for other investors or property owners. If for yourself then no. If you don't want to work under a broker and instead have your own brokerage/office/business - meaning you get to keep all the commissions then you will need a broker's license. However, check with your state licensing board. Some states don't require a real estate license but to be honest I would never hire a property manager who wasn't licensed. So, even in the States that don't require licensing there are many property managers who do have licenses. Hope that helps.
@JedBergowitz7 жыл бұрын
thanks
@leannaanderson45595 жыл бұрын
@@RentalMatters thank you for sharing such great information! You're an inspiration to smart, credible women. I'm an agent and plan on opening my own business in Boston, MA.
@swindlinbillz4 жыл бұрын
Fees on Fees on Fees
@aftech72683 жыл бұрын
She needs to keep it stupid simple !
@nhlakeboy53644 жыл бұрын
She never told us how much she charges?
@patriotliberty30706 жыл бұрын
As a licensed realtor wanting to start a property management company can I give referral fees to clients and vendors?
@AlexOsenenkoFourandhalf6 жыл бұрын
Hi Rachel, navigate to Kathleen's website and reach out from there: www.thepropertymanagementcoach.com/ best of luck and thank you for listening.
@leannaanderson45595 жыл бұрын
As long as they're licensed; e.g. real estate agent sending you client (s). You also can give them gift certificates to appreciate the business.
@mikewilliams23804 жыл бұрын
Not exactly investor friendly...quite a few nonsense fees.