I get this question from landlords frequently as they attempt to wrap their heads around a seemingly similar commodity of service providers. Most charge about the same amount for their monthly fees, most say they will do a great job. So how in the Hell do you tell which one will actually deliver and do an excellent job?
Find the property manager who has the passion and perseverance for the job. Find the guy or gal who can overcome the physical, emotional, and unknown obstacles day in and day out.
Find the property manager who doesn’t have just a simple enthusiasm to earn your business. Almost any fool can be enthusiastic…especially when they want your money.
Find the one who has the endurance.
Endurance is RARE….find the one who has the ability to endure. You’re not running a sprint in your rental business….you’re running a damn marathon.
Hint: When interviewing a prospective manager, don’t ask them how many properties they have filled or how many units they manage. Ask them to tell you about a time when things went from good to bad with a tenant and how they responded. Then shut up and listen to their story.
This will give you more insight than a crystal ball all waxed up and shiny.
Teddy said it best early on…
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”