Invest in Staff. Invest in people who will invest in the property.
Invest in people who will invest in the property with their time, energy and creativity. High quality customer service and strong resident relationships are the keys to increasing resident retention. Having the right people in place can protect and increase the value of the asset.
Let Block Multifamily Group (BMG) analyze your property for a FREE analysis. Go to www.blockllc.com/free-analysis.
To better do this, you need to hire a property management company that will help you to manage all your assets and properties well. You can also visit www.bradford.com for more details.
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I think another thing would be hiring staff that can handle stressful situations well. Sometimes things get a little hard with the clients and you need to be prepared to handle it with dignity. Ethics is always one of the things to be aware of when in a managing business. http://www.sjcmanagement.com
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I'd love to get a rental property as a retirement financing asset. Right now, I am still working full time. For that reason, it could be super difficult to meet the needs of renters and rental properties. If I could hire a staff, as you suggest, I could be less burdened with the rental property from day to day.
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