Today’s question is, under what circumstances would you not be a fit as my property manager in Denver? So, I’m Matthew Whitaker with gkhouses, I’m going to cover this topic real quick.
This is going to be a very short video compared to some of the rest of mine.
But this is important before you decide if we’re your best fit for a property manager, that you understand kind of how we do business and under what circumstances it would not make sense for us to do business together.
The First Thing. Number One Is, If You Want To Pick Your Own Tenant.
In our world, this is a very dangerous thing when the owner wants to pick the tenant through us.
It opens us and you, honestly, up to all sorts of liability when you talk about fair housing laws and being objective.
Fair housing and you can look up, it’s a simple Google search which has become a hot topic in our world.
Set Of Objective Criteria
And I think it’s very important that we’ve set up a set of objective criteria whereby we will rent houses to people regardless of race, or a bunch of other demographic-type profiles.
And we’re really looking at somebody’s true ability to be able to pay you.
So we’re looking at it from an economic standpoint, and not a bunch of different ways that people may or may not qualify if you did a fair housing violation.
So, if you wanna pick your own tenant, we’re not the place for you.
Tenant-Based On Some Objective Criteria
Because we’re going to that tenant-based on some objective criteria.
And we think it’s in your best interest. Keep in mind too, we get paid to pick tenants.
So, this is kind of like our job, number one, is to find you the best tenant possible.
And it really is a business.
If you want to make money, we’re going to help you pick the tenant to maximize return on your investment.
Number Two, You Want To Manage Every Repair
So, we have a lot of people out there that think that maybe they have a brother-in-law or somebody that can do the work of the rental house.
One of the challenges with that is it’s hard for us to manage a repair for you, and so it becomes a logistics and communication nightmare.
Maybe your brother-in-law’s sick or he’s got a day job, and we’ve got a mad tenant, and the tenant gets frustrated and leaves.
What I would tell you is some of our most happy, satisfied clients are the ones that let us handle that, let us handle that kind of common repairs.
Reach Out To You
Now, if a repair exceeds $500, we’re certainly going to reach out to you.
And if you have a brother-in-law that can do that, you know, that excessive, you know, something in excess of $500, then certainly that’s a possibility.
But let us handle the small stuff. Let us knock that out really quickly, keep that tenant very happy.
And one of the things we’ve seen is when you keep a tenant happy and keep them in there long-term, you make a lot more money.
The Biggest Expense
The biggest expense in this business is when we have to turn houses. And you not only lose rent, but you also don’t make…you also have to spend money to get that house back ready.
The Third Thing Is When Our Owners Are Tight On Cash
It becomes very frustrating to them when… I mean, it’s a business, things are going to break, things are going to happen. A tenant may be a little bit late on their rent.
And if you’re tight on cash, like if you’re living paycheck to paycheck, this becomes a huge problem with us because this business works in over-time.
Pay Out Of Your Pocket
But there are one-off type instances where you’re going to have to essentially pay out of your pocket to fix a, you know, heating unit, to fix a plumbing issue.
And so if you’re tight on cash and you’re demanding every single dollar out of that rental house, then we may not be the best fit for you as a property manager.
That’s it. That’s questions owners ask in Denver, and my name’s Matthew Whitaker with gkhouses.