Self Management VS. Professional Management ADVANTAGES OF SELF - - PowerPoint PPT Presentation

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Jan 01, 2023 212 likes •397 views

Self Management VS. Professional Management ADVANTAGES OF SELF MANAGEMENT $$$ The main reason to manage your own home is cost savings. This may be a valid enough reason to undertake self management. However, there are some items to

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Self Management VS. Professional Management

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ADVANTAGES OF SELF MANAGEMENT

The main reason to manage your

wn home is cost savings. This may

be a valid enough reason to undertake self management. However, there are some items to consider

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PITFALLS OF SELF MANAGEMENT

$$$
Liability
$$$
Time
$$$

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SELF MANAGEMENT CAN COST MORE THAN YOU SAVE IF YOU CANNOT ANSWER THE FOLLOWING IN A POSITIVE FASHION

Do I have the time to manage?
Am I familiar with the legal side? State statute,

county and city regulations, fair housing laws etc.

Do I understand the ongoing tasks associated

with management?

Can I afford the extra time, learning curve and

possible mistakes?

Am I comfortable being on call 24/7/365?

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Do I have service personnel who can address

general maintenance, HVAC, plumbing, electrical, etc.? Are they appropriately licensed? Do they have the necessary insurance?

Do I understand property management

accounting

How will I handle:
Showings
Rent collection
Maintenance
Inspections
Lease enforcement

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You would hire a professional manager....

For the same reason you would hire a CPA, Realtor or Investment Broker. Professionals in their respective fields are experts in their disciplines. Experience WILL save you time and money.

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PROFESSIONAL MANAGEMENT IS LIKELY MORE AFFORDABLE THAN YOU THINK

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A large percentage of Aspen Management’s current properties were either owner managed or managed by another firm

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A majority of those properties experienced a rent increase under our management, with the average rent increase being 15.28%!

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How would that look in practice?

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Owner rented at $2,100.00/month. Professionally rented with an average 15.28% increase - $2,420/month. AFTER management fees, the owner is pocketing $2,075.00/month making the net expense of professional management $25.00/month!!

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OWNER EXECUTED LEASE VS. PROFESSIONALLY EXECUTED LEASE

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OWNER EXECUTED LEASE

We frequently see significant deficiencies in the following areas when owners execute their own leases

Tenant Qualification - most self managed owners

either do no background check or a limited background check. We check credit, criminal, employment and residency history which results in a better qualified tenant.

Leases - most self managed owners have inadequate
leases. Our lease is reviewed by an attorney and

amended as laws and regulations change and evolve.

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Lease enforcement - lease enforcement goes beyond

rent payments, most owners do not know how to enforce the terms of a lease. Aspen staff members have over 100 years of combined management experience across tens of thousands of leases. Experience matters, we have the knowledge to achieve the best outcome for our owners.

Move-out procedures - many self managed owners

do not know best practices for processing a tenant move out. Aspen knows the legal requirements and has tried and true move out protocols to best protect our owners.

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THE TAKE AWAY

Professional management is more

affordable than you think

Professional management nets you a

more qualified, better tenant

Professional management protects

your investment

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