eSignatures for Property Management

How to eSign a document: Property management real estate

What is a property management company and what is it that they actually do? If you're going to play the game of real estate, you need to really understand this very concretely. So in today's video, I'm going to break it all down for you. Alright my friends, Kris Krohn here and today we're talking about property management. If you're in the game of real estate, you're going to have to decide are you going to be your own property manager? Do you hire a different third party property manager? Do you skip property management by going lease option? You've got a number of different considerations here and what I want to do is I want to hit the really main big ones for you that will help you really just understand what property management is. Alright, so the first thing to understand is that property management, their responsibility is to find tenants. So if you have a house and it's vacant, you need to get it rent it out, then property manager is going to do that. My experience of most property managers, is they do not sell lease options. They just do property management. And the reason why that's kind of a big deal is because you might say, "Kris I love your lease option strategy." But if you call up a property management company, 99 out of 100 are going to say, "huh that's not really our bread-and-butter. It's not really what we do. They will find your tenants. They will also replace tenants, okay? Now the other thing that's really important is they're going to collect the money. If you are a big hearted person, landlording might be really tough for you because people are always looking for where they got the wiggle room. So a number of people are going to see if they can mooch a little on you and if they can mooch a little, they're going to take the pinky. They're going to have taken the whole body because that's kind of what goes down. Last thing you want to do is get in a relationship with a tenant where you're in the perpetual habit of being late. So they're going to go ahead and take care of collections. Will also take care of fining. They're going to enforce the contract right? If the people are late, there could be some late fees and they're going to enforce and make sure that the contract is appropriate. That it's legal and that the moment anything is broken, we're erring on the side of justice instead of our mercy to make sure that the investment goes according to plan. They're also going to take care of evictions. You're going to have some if you buy enough homes. You can experience eviction. I know there's a lot of people worried about nightmare, tenants you know where most nightmare tenants come from? It's not property managers placing people, it's novices placing people. So we'll actually put...