
The most important element for the success of a real estate investment is management. How a rental property is managed will influence:The quality of the property and the caliber of tenants it attractsThe cost of operating the property and its overall profitabilityIf the asset is a source of passive income for the owner or a jobThere are two ways landlords can manage their assets. They can operate the rental property by themselves, in which case they would have to dedicate considerable time to overseeing repairs and maintenance, supervising their staff, managing tenant relationships, and doing all the work of marketing the property.The second option is to hire a property manager (PM) to see the day-to-day operations of the property... [Continue Reading]