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3 Tips You MUST Know To Run A Property Management Company

Managing property is not easy. It takes a lot of time, energy and know-how. At Holdfolio, it takes a whole team of staff who are certified real estate investment experts to keep our properties in line. Through this experience we’ve learned A LOT, and we wanted to share some advice with our readers.

3 Keys to Properly Running a Property Management Company

1. Have Concrete Systems in Place
As humans with kind and open hearts, we want to give people the benefit of the doubt. This generosity often leads to disaster. Proper procedures for tenant and day-to-day operations must be in place. For example, finding qualified tenants for leasing is imperative to ensuring the safety of your property and return of your investment.

2. Communication
Tenants, landowners, property managers and maintenance crews are all members of the same team. If an issue occurs, each party is involved in finding a remedy. For example, if property maintenance is needed the tenant, repairmen, vendors and landlord must all work together to address the issues. The more efficiently the problems can be communicated, the quicker the issues can be addressed.

3. Team

Hire people who you know will be great employees due to their enthusiasm and problem solving capacity. These people will be the back bone of your property management company. Sometimes paying the little bit extra to get that person who you know will do a knock-out job is worth the investment.

Need to Know More?

Want to learn more about property management? Contact our staff at Holdfolio to learn more from expert real estate investors.

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Jacob Blackett

Originally from Reno, Nevada, Jacob began his real estate career in 2010 as a sophomore at the University of Nevada, Reno, when he bought and sold his first two residential “fix and flip” properties in Southern California.

In 2014 Jacob founded Holdfolio and by the end of 2019, Holdfolio had amassed a rental portfolio of 141 single-family homes and 412 apartment units. At this time Holdfolio was fully vertically integrated, meaning they were operating every aspect of the investment cycle which included acquisitions, procuring bank loans, raising capital from investors, running a full-service property management company, a licensed construction company, and performing their own asset management.

Fueled by low interest rates and strong rent growth, real estate values increased steadily and dramatically between 2010 and 2020, and by early 2020 Holdfolio could not pay as much as other firms on new acquisitions. Jacob took this as an opportunity to sell all of Holdfolio’s holdings and pivot the business model to see more deal flow and invest with much larger and more experienced firms, which is how Holdfolio operates today.

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Ready to invest in real estate?

We make real estate investing simpler, more transparent, and accessible to individual investors.