Besides working as the Social Media Director at Rentec Direct I am also a landlord and manage my own properties. As landlords or property managers we all know the importance of having a reliable team of professionals that we can rely on.
Your team may consist of lenders, realtors, other investors, advisors (lawyers and tax accountants) office assistants, tenants, owners. Last but definitely not least your team should consist of a reliable hanyman, painter, plumber, landscaper, and other vendors.
Having a team that is willing to do the right thing is so vitally important to the success of your real estate business, finding these high quality people may mean that you have to spend a little more money and you may not be able to always go with the most competitive pricing but in the end surrounding yourself with people you beleive in and trust will pay for itself. The peace of mind that comes from being able to ask advice or ask for a job to be completed and know that it will be done correct and without any or much “handholding” from you is very valuable.
As Property managers and landlords we must also ask ourselves what the right thing is to do. Many of our actions as landlords and property managers should be guided by local and federal laws as well as procedures and policies. If you work in an office setting you likely follow a code of ethics or other manual to guide you in making good choices. So when a tenant asks you to make an acception or if you find yourself tempted to treat a tenant differentl than any of the other tenants remind yourself that this could be construed as discrimination and is not the right thing to do.