In this episode we discuss the importance of property management and what things to consider when selecting and working with a property management company.

Our guest is Brenton Hayden -- the founder and chairman emeritus of Renters Warehouse USA, a six time honoree of the Inc. 500|5000 list.  Brenton attended Harvard Business School and MIT’s Sloan School of Management and was named the youngest franchisor in America by Inc. Magazine in 2011 at the age of 25.

Breton can be reached on LinkedIn at https://www.linkedin.com/in/brentonhayden.

His company's website is www.RentersWarehouse.com.

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Welcome to Passive Real Estate Investing. I'm your host, Marco Santarelli. This is the show where busy people like you learn how to build substantial passive income while creating wealth for the long term. Today's show is a very important show about property management. As you know, my eighth rule of successful real estate investing is to use professional property management. You never should manage your properties on your own. There's a few exceptions to that, but generally speaking, it's not a good idea.

Property management is a thankless job and it requires a solid understanding of tenant landlord laws, a solid understanding of marketing skills, strong people skills. These are all things that allow you to deal with your tenants and your tenant complaints and excuses when they come up. You see, your time is your most valuable resource, it is precious. You should spend your time with your family, on your career, and looking for more investment property. Property management is not the thing you should be doing.

What do you look for in a property manager? There's different reasons to have property management. For example, your property manager or at least the professional property manager will know how to market your property to keep it rented. Vacant rental properties are a drain on you and a drain on your cash-flow, and it doesn't make a productive asset. An experienced property management company will know how to aggressively market that property and keep it leased.

The second, you get better tenant screening, an experienced property management company is more likely to have an effective system for screening and qualifying tenants that will ensure that your property has quality tenants that will meet their financial obligations. That means that they'll take better care of your property too.

Thirdly, having a professional property management company will protect your investment. An experienced property management company will take better care of your property. Now, what do I mean by that? A property management company that has been in business for a number of years, they'll have seen and heard everything. They would have come across virtually every possible problem and scenario and be able to confidently handle those problems, as they arise, quickly and efficiently.

Last but not the least, having professional property management makes owning your rental properties a more simple and convenient investment. You see, a company with years of experience in property management, they have systems in place. They'll be able to have a streamline process setup so owning rental properties becomes a simple passive, not disconnected, but a passive investment for you. That gives you the time to do other things while you still enjoy the financial benefits of owning that investment property.

 



 
Property Management Secrets with Brenton Hayden
 

On today's show, we have a very special guest, someone I’ve known for a great number of years.