Notes

Contemplating the Structure and Content to Create the Best Investors Property Management Book
Lately, I've been working at the idea and content to have an Investors' Property Management Book. I've read several and reviewed a lot more books about them. Unfortunately, each will (that I've identified) always be books for property management by career property managers. Or to the contrary, the end up emphasizing how to produce millions buying rental housing. To me, both cases miss the purpose. Investors have to have a property management volume that is targeted on their issues. From go now are:


Protecting the asset and invested capital,

Maintaining the asset value and condition,

Maximizing equity value,

Minimizing ownership risk for liability, tax, and financing

Maximizing income and income.


I suppose the main reason volumes have not taken this system is in the final the writers are determined that managers' interest ought to be parallel towards the owner. While I agree in concept, the truth is events usually do not transpire like this. As owners, we should instead consider and plan management around our investment interests rather than allow manager's focuse to undermine this.
Why will a manager diverge through the investors' position? The driving factors have been easy. Managers and maintenance staff develop the house everyday. Necessarily, they begin to identify with the residents and linked with emotions . focus on his or her take a look at how the exact property "should" be managed. While the difference is relatively subtle the result is expenses have a tendency to inflate and capital needs and expenses rise quickly consistent with this transformation. Further, a concern around asset value or risk will take a backseat to the interest position unnecessarily placing investors' capital and income inside a poor position.
On the opposite hand, the investor and owner will certaily focus on protecting the asset first. This means that paying taxes, paying insurance, and making critical capital improvements will come first. Improvements that maintain or increase occupancy will come next. Costs that prevent customer turnover and otherwise improve performance will observe immediately behind these.
Because from the difference between both of these views a volume focusing on these complaints could be a real value for the industry and particularly to investors in the marketplace. Such a book may go far to increase investors ability to realize their income goals, could prevent foreclosures and lawsuits, could increase asset value increases and purchases results. If ready, this book will signficantly improve readers power to achieve their total investment goals and minimize their investment risks.
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