Tip of the Month - March 2008


Source: Property Management & Managing Risk
             Robert C. Kyle & Floyd M. Baird, RPA/SMA

Anticipate change to avoid financial loss! Property Managers who can analyze the real estate market and recognize trends will be prepared for economic fluctuations and crises.  By anticipating changes in the market and adjusting rentals and other factors within their control, Property Managers can minimize the effect of contractions in the real estate cycle and keep their vacancy rates as low as possible.  Knowledge about economic trends and specific cycles in the real estate sector provides a background against which to view the specific conditions and characteristics of each property.  The ability to anticipate economic trends and market behavior provides the Property Manager with excellent insulation against Owner dissatisfaction.

What are some of the reasons a Property Owner would choose to hire a Property Manager rather than manage the property himself or herself.?  

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This web page was updated on 02/29/2008.