Keys to Multifamily Asset Management for Investors
In a situation then when you do need to find a property manager where would you start with maybe looking for one?
If we have to hire a new one, the first thing I would do is there’s a couple of differenst websites you can go to. There’s one called IREM.org, IREM.org. There’s CCIM.com. There’s also NARM.org. N as in Nancy ARPM – National Association of Rental Property Managers. The other thing that I would do, too, is I would go to a local apartment association because then you could meet up with other owners and property managers and of course the people that run the apartment association in that area where the property is located. And I would always ask for referrals. So, even though I gave you the websites first, I would generally go to the apartment association or other owners first and ask for referrals to other property managers because that’s usually word of mouth is going to be your best bet. Anybody can advertise on the internet. Anybody can put up a website that says, “Hey, I’m a property manager”. The key is “Are they actually going to do what they say they’re going to do?”