What do you charge for limited service property management?

So today?s blog will be fun. We get leads from a variety of places. One of those is from 3rd party companies whom we pay for the leads. Today we got an inquiry that we needed to share so that everyone could learn. (all personal information will be withheld to protect the parties involved)

Here?s the excerpt:

Property Type: Single Home or Condo (valued under $250k)
Address: See Note Below
City: Austin
State: TX
Zip Code: 78753
Other Details:
Property occupied by owner
Individual is not an association board member
Comments: ?I am looking for a house to buy in Austin, TX. It will likely be
in Northeast Austin (N of 1983/290, E of Lamar). I am seeking limited
management service. I travel a lot so I need some one to look in on the
house every two week (eg for a water break or other major item) and to have
the lawn mowed. That?s all I need. Can you provide this service? What would
you charge? Thank you. XXXXXXXXXXX Since i travel a lot, the best way
to reach me is via email to?xxxxxxxxxxx@yahoo.ca.?

?

So, with this in mind how can we best help this inquiry/person?

First let me say if you have no idea what you?re doing in real estate, save your money and take someone to lunch that does.

Let?s take this from the start. This geographic area is?.let?s say I wouldn?t put my money there and leave it at that so I don?t get into trouble.

Limited management service:

Our base rate is $80/month for single family residential full service management. How much less do you want to pay? Businesses set up processes and services for a reason and typically it?s not only to make money. These processes and services are in place because A. the market desires them B. They are either required or the best course of action given the entire picture and C. They are cost effective for the customer and the company. Any service provider that is willing to alter their business model to suit one customer won?t be in business long.

To look in on the house every two weeks would require someone to drive out, disturb the tenant and would cost about $45/trip. This equals more than our monthly min. and would infuriate the tenant if not force them to sue the person not giving them peaceable use of the premises they are paying for.

Mowing the lawn: Why would you pay to mow the lawn as an owner? This is lost revenue for a bill typically paid for or completed by tenants in this particular area. This isn?t a $1,000,000 property where services like this are expected. Plus if you mow the yard in this neighborhood I can promise you?re the only one in the neighborhood that is maintaining their yard.

What would we charge: We wouldn?t. We don?t take clients money and offer them a poor, ill advised service in return. We offer quality and honesty.

Owners, Investors, Future Clients, if real estate investments isn?t your game, there is no shame with that. When I go to the Dentist the last thing I?m going to do is start asking for services I might think I need. If you don?t know the ropes, it?s 100% ok but find someone that?s in the business you trust and like and take them to lunch. One meal can save you thousands of $$$$. None of us know it all but many of us specialize and are experts at what we do. If you?re seeking a Dentist we can?t help you. If you?re seeking expert real estate advice and property management services in Austin Texas call us today. That we can do to perfection.

BTW: Perlas is just down the street and it?s really good for lunch.

Matt ? 1836 Property Management

Source: http://1836propertymanagement.com/2013/01/17/what-do-you-charge-for-limited-service-property-management/

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