Inspired by questions asked by the Bigger Pockets community, Co-Hosts Rob Coldwell and TJ Hock interview each other in this unique episode of Living Well with Rentwell. As Property Managers, we often feel like there is some mystery about how Rentwell operates and we’d like to shed some light on our systems. Our hosts discuss the companies they run, how they got where they are, and where the future stands for them. From growing to a multi-state company and consolidating back down to a smaller core market, to the specific clients that they want to serve, this is a great look into the business model.
http://www.rentwell.com
http://www.rentwell.com/obp
Timestamps:
0:00 – Start
4:40 – What type of assets do you manage?
6:34 – What do you charge?
9:55 – Can I do my own maintenance?
16:45 – How often do you visit my property?
22:45 – What is your method for marketing prospective tenants?
27:57 – When I sign up with Rentwell, do I have a main contact?
33:10 – If a tenant does not pay rent, do you handle the eviction?
35:45 – Can I meet my tenants?
38:40 – How long does it take to find a tenant?
40:05 – Do you offer any guarantees?
44:41 – Does the Owner Benefit Package have a website?
Key Takeaways:
Property Management fees are based on making sure all parties are ensured a profit
When it comes to maintenance, it’s best to let your property manager call the shots
Well timed property visits ensure that tenants are following rules and owners are getting the best value for their leases
The best way to gain new tenants is to provide them with as much high quality information about the property as possible
One bad tenant placement can cost the homeowner upwards of $15k
