Your Property Manager is Your Friend…Until He Isn’t

We can never forget that property management is a business and that your property manager is your friend, until he isn’t.  This was reminded to me this week when a client we have managed for the last several years has a severe defect in the plumbing system with their home,  ie, the sewer line broke underground.

And somehow, someway, I’ve been told that we mismanaged the situation and made it worse.  How I or my staff can make an underground collapsed sewer line worse is still yet to be explained to me.  But that isn’t really my point.  The point is, real estate and property management here in Kansas City (everywhere, really) is a business.  And it’s a business not everyone should be involved with. (Yes, I’m fully aware I’m not supposed to end a sentence in a preposition…but still.)

The root problem here (no pun intended) is that there needs to be a cash reserve with which to repair problems that will inevitably develop with an investment property. Especially one many decades old.

Cash reserves are needed for broken sewer lines, aged roofs, crumbling basements, deficient tenants, etc.

As a Kansas City property manager all we can do is communicate problems and successes, offer our advice, and help to make the property as profitable as possible through maximum rents and advise as to which maintenance issues will do what with how much. Sometimes we have to deliver bad news.  As I said, we’re your friend…until we’re not.

5 Comments

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5 responses to “Your Property Manager is Your Friend…Until He Isn’t

  1. Jason Conferido

    Yes that’s the thing about businesses you can never be really friends with anyone. Well not until the deed or business relationship is done. Here in my country (probably around the world) we experience a lot of conflict between tenants and landlords because of certain damages in the property and repair responsibilities. I find it comical when clients or tenants blame property managers and landlords when a certain defect occurs that’s why in my opinion certain agreements should be made on whose responsibility it is to do repairs. Thank you for the tip on cash reserves that’s probably the best preparation for any unprecedented events.

    Jason

  2. Jason, in my opinion, it’s mostly due to financial stress when people lash out at the landlord. Yes, we have maintenance in our agreements. But we cannot be at the houses 24/7 and we cannot always rely on the truthfulness of tenants. Most of the time, calmer heads prevail. Thanks for reading.

  3. Chris,

    Hello from property managers out here in Phoenix, Arizona! We often find that people don’t fully understand property management, their property managers, and the policies of their specific property management company. This leads to problems with things like a maintenance reserve and communication between owners and managers – the issues you’re talking about here. Your followers/readers/fans might find this to ebook to be a useful resource if they are trying to gain a better understand if these issues: https://www.activerenter.com/rent-it-blog/74-questions-ask-hiring-property-manager

    Would love to hear your thoughts as well!

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