The property management business is a good concept for someone who would adore making a decent income without taking too many risks .

in Uncategorized by admin — February 22, 2011 at 16:15 | 0 comments

My expedition into property management was only by chance. I had about fifteen dwellings in Dundee and employed a fulltime convenient man to pocket leases and sort out any minor repairs. My chum Chris knew that my properties were well managed and he questioned if I’d look after his mother’s terraces. I knew that she was never well and due to her well-being in the year half her apartments had lain empty.

I was able to get her occupancy up to over ninety %. My charging structure was simple as I kept 10 p.c of the rent and she also paid all costs. She was happy with my service and told her pals who approached me to do the same for them. Being busy though not needing to say no immediately I offered to supply the same service but at 15% of the monthly hire.

To my continuing surprise they concluded. Recommendation by buddies got around and at once I had to start turning folk away as I was far too pushed handling my packing company to do property management full time! Had this business not been doing well I may have started handling properties full time. I even managed to buy 2 flats at knock down costs when one of my clients wanted a fast sale after his renters left. They offered me the properties for a similar price they’d purchased them for a couple of years gone. I knew the market rose significantly since that time and acquired them immediately.

I spent one week or 2 doing them up and had them employed out in almost no time. When property costs started rising strongly I sold both, making decent money only to lose out on the real boom in costs! If you have sufficient time to waste why don’t you consider handling other peoples’s properties? Be warned though you are on call 24 / 7 if an emergency occurs at any of the properties.

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