Though some real estate investors would balk at the typical commission received by a property management team – usually around 8 percent – sharp investors recognize the real value in a great property management structure.

"What you focus on, you improve."

Over the last few months, REI Nation and Premier Property Management have worked diligently to increase the home inspection scores of the properties under our management. Our scale begins at 1, indicating that the home needs major improvements before it should be available for residency. The numbers on our scale range to 5 with an additional score of Perfect for houses in which the Inspector deems have no discernible issues. Our goal is to have every property reach a Perfect score.

I was doing some research this week on improving tenant relationships with their property management companies and I came across this info-graphic.  Part of the research was on how to respond quicker and provide better service to tenants who have issues with their rental properties.  For a company like Premier Property Management where 100% of the properties we manage are owned for real estate investing purposes, quick reaction and tenant satisfaction will go a long way in helping an owner have a consistent and reliable income stream.  

With the first half of 2013 completed, Premier Property Management has grown into one of the largest rental property management companies in Memphis.  With more and more property management franchise companies popping up across the country, we thought it would be a good idea to begin documenting certain performance numbers.  We did this in hopes of setting a trend that other companies would follow.  It would make it much easier for investors to make management company decisions.  We'll see if that ever takes place!

When you're ready to start purchasing rental properties, you have a big decision to make: Do you hire a professional property management company or take care of it yourself? Each option has its pros and cons, and there is no clear universal answer. Which direction you should go is dependent on your financial situation, your experience, and to what extent you're wanting to be involved with your investments. It is also dependent in large part if you decide to be an Out-of-Area Investor.  Many real estate investors choose to buy properties in other parts of the country because of better returns, less expensive pricing and more stable rental environments.

Property Management Is The Key To A Great Rental Property Portfolio

We get asked many questions about rental property management ranging from how we set up our business to how we conduct the business.  Most are simply stunned by the numbers.  Some even specifically ask if we can work with property managers in other cities where they own properties.  Nothing would make us happier than to help with your portfolio in other cities, but the fact is, we run our Memphis property management company differently than traditional property management companies.  Our plan is to set-up and operate a management company in Dallas using the same successful techniques developed here in Memphis.